According to a recent Forbes article, major banks lost almost $210 billion between 2011 and 2016 because of operational failures. With understanding operational risk increasingly high on the Board's agenda, what are the challenges for you and your organisation? Learning from the recent heavy sanctions brought by outsourcing failures, data security violations and money laundering scandals can have a real impact on your business.
In this 30-minute webinar expert trainers, Clive Corcoran and Andrew Street, discuss:
- Why do firms get operational risk wrong?
- The consequences of operation failure: legal risk, money laundering, fraud and reputation
- Examples of operational failure in technology and compliance spaces (e.g. the TSB computer systems failure and the Standard Chartered money laundering breaches)
- What could be done to improve operational risk management?