How does an ambitious, multinational bank seriously aim to be number one for customer satisfaction despite rapid growth and a commitment to a return on equity of more than 20%? For Sweden’s SEB Group, the answer probably lies in its new operational risk management system, ORMIS, which it rolled out last year to all 20,000 group employees.
For Lars Hansén, head of group operational risk, the initial priority was to embed the advanced measurement approaches (AMA) for Basel II operational risk into the group’s decision making. “The risk models have to be easy to understand to be used by all managers, yet sufficiently rigorous to be approved by the regulators,” he says.
