The advantages for the funded firm lie in smooth financing over time, backed by stable management support whilst the innovative enterprise comes of age. This new type of investment company has started to change the venture capital landscape in Germany.
Against this background, I am pleased to deliver the opening address in which I will cover three main areas. First, I will begin by offering my view on operational risk management – the issues and challenges. Next, I will discuss Basel Accord treatment of operational risk and emergence of sound principles on the topic.