Spotlight on Risk
Operational Risk Leaders Adapt to an Evolving Risk Environment
Operational risk issues are in the spotlight as financial institutions respond to new threats in a rapidly changing business environment.
Our new survey, conducted by FT Remark, explores how the operational risk function is evolving.1 It identifies a group of best-practice leaders within the respondents, which we have called the Advanced Practice Leaders (APLs).
This analysis builds on our 2013 survey, Closing the Communication Gap: How Institutional Investors are Building Risk-Aware Cultures.2 This study revealed a lack of understanding around operational risk management (ORM), with uncertainty around the role of the risk function when it comes to managing operational risk issues.
1 State Street 2014 Operational Risk Management Survey, conducted by FT Remark. See page 20 for full methodology. Unless otherwise noted, all statistical data in this report derives from this 2014 survey.
2 Our 2013 report was based on a survey conducted by the Economist Intelligence Unit in the first quarter of 2013 of 297 employees of investment institutions.