TITLE

Study Faults Bank Risk Management

AUTHOR(S)
Marshall, Jeffrey; Heffes, Ellen M.
PUB. DATE
December 2003
SOURCE
Financial Executive;Dec2003, Vol. 19 Issue 9, p11
SOURCE TYPE
Academic Journal
DOC. TYPE
Article
ABSTRACT
This article discusses the results of a survey conducted by the Risk Waters Group and SAS regarding the operational risk management programs in financial institutions in the U.S. The author notes that the survey found that many companies don't have a risk management program despite significant amounts of money being lost due to poor risk control practices. The author adds that operational risk can be threats that come from a variety of areas such as people, processes and internal and external systems. Some of the most common risk losses result from transaction or error fraud, system failures and the resulting downtime as well as inefficiencies or the mismatching of financial transactions.
ACCESSION #
11615994

 

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