It feels very counter-intuitive that the Commonwealth Bank, which has the overhaul of operational risk as the centrepiece of its strategy, has just made a particularly risky move.

Elevating the head of retail operatons Matt Comyn to replace Ian Narev as chief executive of the entire bank could backfire

Those that are looking to see CBA break out of the cultural/reputational quagmire in which it has found itself will be disappointed - even shocked - that one of the bank's establishment executives will now be charged with fixing the problems - some of which occurred under his watch.

At 42, Comyn is already a 20-year CBA veteran - having been raised in its culture. But more importantly, for the past five years he's been responsible for the retail bank, part of which is the focus of the actions taken by Austrac on money laundering.

Some time this week the initial report from the Australian Prudential Regulation Authority's review of the bank’s culture and governance will be released - and its findings due in April may not show Comyn in a good light.