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Article: Operational Risk: Risk Management For The Customers - SEB Group Rolled Out An Enterprise-wide Operational Risk Management System Last Year. Bob Giffords Takes Stock Of How It Has Helped The Banking Group Achieve Its Customer Satisfaction Aims.(operational risk management system)(banking industry)
- Article from:
- The Banker
- Article date:
- August 1, 2007
- Author:
CopyrightCOPYRIGHT 2007 FT Business. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: BOB GIFFORDS
How does an ambitious, multinational bank seriously aim to be number one for customer satisfaction despite rapid growth and a commitment to a return on equity of more than 20%? For Sweden's SEB Group, the answer probably lies in its new operational risk management system, ORMIS, which it rolled out last year to all 20,000 group employees.
For Lars Hansen, head of group operational risk, the initial priority was to embed the advanced measurement approaches (AMA) for Basel II operational risk into the group's decision making. "The risk models have to be easy to understand to be used by all managers, yet sufficiently rigorous to be ...