Reconciliation of Regulatory Overlap for the Management and Supervision of Operational Risk in Financial Institutions
This paper identifies the extent to which redundancy exists among the regulations associated with the operational risk management environment of financial institutions and recommends ways for financial institutions to decrease or eliminate redundancy in the related operational risk compliance processes. This paper was commissioned in October 2004 by members of BITS Operational Risk Management Working Group and The Financial Services Roundtable’s Anthony T. Cluff Fund and was prepared by KPMG LLP