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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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2.6. Improving IT-related Business Risk Management

“Product processes are increasingly implemented through information technology, so there is increased risk of failure and greater need to find root cause. This includes both complete failures in systems and performance problems such as increased transaction latency that can cause loss because trades are not completed at the best price. We have seen significant failures in financial institution IT systems. This reminds us that we just need to keep pushing our dependency analyses to see what problems can arise and how technology can help us (such as transaction monitoring to better check for errors). We also need to stay disciplined on preventative measures such as parallel systems before fully ...

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