Swiss Re takes on operational risk

Ever since the new Basel Accords highlighted the need for banks to hold capital to underpin operational risks, global financial institutions' risk managers have paid new attention to this broad set of perils. While definitions of operational risk are varied and routine management approaches embryonic, everyone agrees that operational risk must be dealt with.Bruno Porro, an executive board member of Swiss Re and the reinsurer's chief risk officer, told Reinsurance how his team is approaching