The invention of operational risk

  title={The invention of operational risk},
  author={Michael Power and P. D. Leake},
This paper considers the convergence between accounting based ideas of internal control and the growing importance of ‘operational risk’ as a category for organizing risk management thinking and practice in banking and financial services. Operational risk has emerged as a residual category for risks and uncertainties which are difficulty to quantify, insure… CONTINUE READING