Recent Australian Prudential Regulation Authority actions recognise the criticality of operational risk management. However, the current financial crisis suggests that regulation alone is insufficient to manage operational risks of process, people and system failures. The challenge is behavioural; it requires the development of an appropriate risk culture, where individuals at all levels of the organisation are mindful of the risk when conductng routine and non-routine activities. In partnership with National Australia Bank, this research will develop and validate a model of the enablers and impediments to the spread of effective operational risk management practices in financial service firms.
|Effective start/end date||1/01/10 → 25/10/11|
- Australian Research Council (ARC): A$24,000.00