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The Operational Risk Handbook for Financial Companies: A guide to the new world of performance-oriented operational risk by Brian Barnier

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1.5. Creating More Robust Scenarios More Easily—the ‘How’

“Banks have historically been good at high-level process analysis because they have dedicated many hours to improving the efficiency of their many operational functions. But I think they are less familiar with, and therefore less proficient at, root-cause analysis—and the way that root cause has become critical to process improvement in recent years. Root-cause issues tend to be less immediately visible; it can require some digging to get to the roots. We need tools to make this analysis easier.”

— Mark Olson, former member, board of governors, of US Federal Reserve System Board of Governors

Creating more revealing scenarios to see into dark corners and avoid nasty surprises happens ...

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