Episode Synopsis "#5 More Operational Risk"

Welcome to the latest episode. We'll talk about a recent blow up that was anything but cosmetic. Revlon, Citibank, payments in the hundreds of millions of dollars made in error. Those are the classic ingredients of an operational error. In days long passed, this type of thing might have been brushed under the carpet. Today, there is a requirement to capture these issues and review them. That discipline is called OpRisk aka Operational Risk. "The risk of loss resulting from inadequate or failed processes, people and systems or from external events” To help us understand the world of OpRisk, I am delighted to have as my guest today a real expert on the topic, Andy Aschwanden. Andy has been thinking about process and the controls that go, or should go, with it, for many a year. We had the good fortune to work together for a number of years and having Andy’s mind at work on shaping process design in advance was a big plus. Andy is here in his own right, so any views he expresses are his own and not those of any employer past or present.

Listen "#5 More Operational Risk"

More episodes of the podcast The Bankers’ Plumber - Lessons Learned

• #11 - Gautam Gujral / Vertalo
• #10 David Potter - Islamic Finance
• #9 Colin Parry
• #8 - Tim Swanson
• #7 - The Consortium Conundrum Pt 2 - How banks change things
• #6 The Consortium Conundrum Pt 1 - How banks change things
• #5 More Operational Risk
• #4 The role of Operational Risk
• #3 Size Matters
• #2 Mike Certo / Ed Watts - The origins of the title “Lessons Learned”
• #1: Barry Lewis - About Basics and Good Control
• Trailer