August 2024
Imagine knowing exactly what’s going on in your operations. Being able to see where your data is, what’s happening to it, who’s using it and how it’s changed. Think about the impact that would have on operational risk, on how much safer and more resilient your firm would be.
This may be the vision for a Chief Operating Officer, but the reality is very different. Most financial firms have operations that are highly fragmented, opaque and full of hidden risks. While other areas of the firm have acceptable thresholds for credit or market risk, for instance, there is zero room for operational risk.