BMO Head of OpRisk Enthusiastic About Achievements
John Kelly 270004J7VQ email@example.com | | 0 Comments | 105 Visits
Canada’s oldest and fourth largest bank has proven a successful risk management framework can reduce risk exposure – even in the midst of a global economic meltdown. Hamish Lock, head of operational risk at Bank of Montreal and valued OpenPages customer is featured on the cover of the November, 2009 OpRisk & Compliance Magazine. In a very candid interview, Hamish describes how he took on his new role as head of operational risk just over a year ago in the midst of the financial crisis and has been able to steer his bank through the crisis relatively unscathed.
“The key goal I’ve been trying to achieve”, said Hamish in the interview, “is to increase the transparency and awareness of where operational risk lies within the bank; ensure ownership is clear and to identify it; and to talk about it in a specific and informed fashion.”
He attributes his success to the value the bank places on effective operational risk management. “It is about maintaining and enhancing the overall risk management capability at the firm. We would be doing a lot of these things even if they weren’t requirements. We believe there is value in trying to continue to evolve the way we manage operational risk as better tools are developed and the discipline matures. I’ve been involved directly in operational risk for almost eight years and there has been a huge amount of maturity in that time, in terms of the way we identify, and particularly the ways we assess and measure, the risks. We would want to continue to do that regardless.”
To view the interview in its entirety, click here.