Op risk analysis underrates human behaviour – Fed examiner
Risk managers urged to focus on group dynamics
Employees' behaviour individually and as a group has a crucial influence on successes or failures at companies and yet the human factor is underestimated in operational risk analysis, a regulator says, calling for "a vision of governance in the broadest sense possible".
The implied emphasis on culture by Richard Cech, senior bank examiner in operational risk governance at the Federal Reserve Bank of New York, chimes with comments by Mick Ankrom of Bank of America who says repairing banks'
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