First I'll focus on some of issues arising from events at public companies and banks in the past eighteen months that have shown weaknesses in risk management practices. And then I'll talk about how operational risk management is evolving into a discipline that can strengthen the corporate governance process at banks.
No doubt this procedure started with a ledger, a clerk and a quill pen, and it  didn't change much until 1998 when the electronic Exchange Settlement Account System (ESAS) was introduced.