In a recent OpRisk and Compliance Webinar, John Whittaker, group operational risk director at Barclays described how his team has achieved AMA by embedding the Operational Risk Framework. He described how the framework provides a single control infrastructure and common risk language across the Group and supports the effective measurement and management of operational risk.
In support of this initiative, Barclays implemented an operational risk system (built on OpenPages) which replaced separate systems used for Sarbanes Oxley and Operational Risk Management. The OpenPages solution provides Barclays a single repository for data and supports the harmonization of Operational Risk and Sarbanes Oxley risk and control assessment methodologies.
John was joined in the Webinar by Operational Riskdata eXchange Association (ORX) executive director Simon Wills who discussed operational loss data analysis and trends in the banking sector. To listen to this informative and substantive Webinar, check out the archived Webinar presented in its entirety.
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