
324 Operational Risk Control
contributes to the bank’s bottom line. Controlling costs, however, should never be
used as a reason for lax operational risk control – or, more generally, for substandard
global risk management.
Behind advanced IT initiatives lies the fact that all resources at the bank’s arsenal
must be integrated and support one another. In this, databases play a pivot role (see
Chapter 5). One of the patchworks tried in the past, with no results worth
mentioning, has been the building of data warehouses, a superstructure on multiple,
heterogeneous, and overlapping databases aimed at pulling management data
together. This is creating redundancies, ...