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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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2.2. Prioritizing Improvements

Figure 20

“There are no quick fixes. You need to focus on structural fixes and changes. Try to transform your organization in meaningful ways. Two keys to this are, first, understanding deeply the system that is your bank, how that works; and second, the root causes that can hurt your system. If you know this, you can point your analytics at the right data. This is what I expect my risk management leaders to understand—the business.”

— Humphrey Polanen

In our discussion of evaluating risk, a systematic, scenario-based approach was taken to avoid bad surprises. Yet, after a series of scenario-analysis ...

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