Download the "How to Avoid the Seven Pitfalls of Basel II Operational Risk" Audio File (.mp3 - 3 MB)

Financial institutions must work toward Basel II compliance in the absence of complete and official standards, as regulators continue to shape the proposed accord. BearingPoint has identified operational risk issues for institutions to consider in this uncertain environment. The seven pitfalls discussed in this podcast include:

• Waiting for regulators to provide detailed guidance and lay out an implementation road map
• Failing to understand the overlap among regulatory initiatives or dealing with them in a siloed manner
• Failing to make the link between information, technology, risk management and the business
• Attempting to build a Basel II infrastructure without data and technical architecture road maps
• Failing to generate the internal support needed for a smooth implementation
• Underestimating the magnitude of cultural change that Basel II requires
• Not correctly factoring Basel II into the institution’s merger and acquisition strategy