Survey highlights buy-side op risk inadequacies

COVER STORY: RESEARCH | ERNST & YOUNG REPORT STRESSES THE NEED FOR MORE STRUCTURED OP RISK FRAMEWORKS

NEW YORK – Buy-side firms are increasingly taking an enterprise-wide approach to operational risk management in response to growing regulatory and investor scrutiny, but so far European managers have made greater strides than their US counterparts. A new survey by Ernst & Young, Operational Risk Management: Survey of Global Asset Managers, indicates that European managers have developed more formalised op risk frameworks due to Basel II requirements and regional regulations, but pending US S