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> I would break it into two sentences, but you've proscribed that for
> reasons. It actually _is_ two sentences that have been (again for unknown
> reasons) collapsed into one. 'Having standards' and 'combining elements'
> separate actions and belong in two separate sentences.
> Repeating the auxiliary (or not) is by no means "bad English", but does
> improve the sentence.
> I would be tempted to try something like this:
> The bank should (a) have clear standards for the collection and
modification of all
> elements, and (b) combine these elements in a manner that most effectively
> enables it to quantify its exposure to operational risk.
Oooh, oooh, do I get to change my answer?
I'd also get rid of the nominalization of the verbs "collect" and "modify".
"clear standards for collecting and modifying all elements"
BTW, sorry about the subject line in the earlier post.
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