Roland Kennett gives IFF insights on the outlook for operational risk
- 25 July 2018
Our Head of Membership and Services Development, Roland Kennett, recently spoke to The International Faculty of Finance (IFF) about what the future looks like for operational risk in the finance sector. Having worked at the forefront of operational risk management for over twenty years, Roland is well placed to share his insights.
Drawing on our Operational Risk Horizon project, which used more than 600 individual assessments, submitted by 44 institutions to benchmark top current and emerging risks, Roland explored what the landscape looks like. The key takeaways included:
- Conduct is the top operational risk
- New technology dominates emerging risks
- The overall risk profile is set to increase
Alongside the list of current and emerging risks, Roland identified a more basic issue – operational risk taxonomies need to evolve to support the management and measurement of risk.