World Bank Picks JP Morgan for Risk Management System

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Byline: Frances Maguire

The World Bank has signed a contract with JP Morgan Treasury Services for the US investment bank's operational risk management system.The system it will use is a web-based, group-wide operational risk management service designed to help managers of banks and central banks document the controls needed to mitigate risk, evaluate the compliance of various business units and identify which areas of business lack the proper control procedures.

The World Bank has also signed up for JPMorgan's Horizon Risk Advisory Program, which assists clients in the planning and implementation of efficient and effective operational risk management programs within …