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Apr, 15, 2015 News Release Main Page
Genesis strengthens its Operational Risk practice
 
Over the past two years training in operational risk has received heightened attention at Genesis International.  Three SIFI-designated financial institutions, as well as numerous smaller banks, have contracted Genesis for custom-tailored training programs addressing operational risk.  These courses have been delivered to business unit heads and line officers, risk managers and specialists in finance, compliance and audit.   
Programs have varied in methodology, content and length to meet the needs of the many individual audiences.

Fritz Newman, Practice Leader in Operational Risk training at Genesis International, notes that while there are many reasons for the increased attention to what is indisputably the broadest of all risks, three factors stand out in particular:
  • Heightened attention from the OCC, which has described operational risk as ‘currently at the top of the list of safety and soundness issues for the institutions we supervise’
  • Record penalties and fines for issues involving ‘Clients, Products and Business Practices’ (e.g., ‘conduct risk’)
  • A realization that in the new stress tests—whether those of the EBA, PRA or DFAST/CCAR—quality of process clearly trumps sheer amount of capital
For further information contact:
Fritz Newman, VP
1 (603) 502-5205

 
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