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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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3.1. Oversight of Risk Management

“Problems start when decision-makers’ perspectives are too narrow—they don’t have all the necessary information and, worse, don’t realize they need to broaden their view. Managers believe they are making correct decisions from their own, limited, perspective. But they may not be correct in a higher operational context. I encourage risk managers to look for the conditions of poor decisions. People on the front lines are more likely to have the details, but less likely to understand corporate objectives. The boardroom knows the objectives, but must work to get full clarity on operations and the implications of that status. Risk managers can help bring this together.”

— Rick Sergel

Business objective

The ...

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