Non-traditional risk areas are gaining prevalence alongside privacy and security.
Recently, Thomas J. Curry, the new head of the OCC, stated that despite the improvement in asset quality, falling charge-off rates, and the highest capital levels in a decade, another type of risk is in fact gaining prominence: operational risk.
“Some of our most seasoned supervisors, people with 30 or more years of experience in some cases, tell me that this is the first time they have seen operational risk eclipse credit risk as a safety and soundness challenge,” Curry commented recently. “Rising operational risk concerns them, it concerns me, and it should concern you.”
Read the rest of Banks Beware: Operational Risk Increasing at Bank Systems & Technology.
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