Dipo: Operational risk loss database consortiums meet in Rome

Italy’s operational risk loss database organisation, Dipo, invited other consortiums from around the globe to a conference in Rome to discuss their various approaches to collecting external data and to speculate on future changes to their role in op risk management.

What if all a firm’s credit or market risk data was suddenly no longer available? Would it still be possible to carry out risk management without balance-sheet ratios, sector forecasts, historical series of prices and interest rates? And similarly, would operational risk management be possible without records of loss events? The answer is clearly no, and the need to collect data has encouraged institutions to band together to establish several international risk data consortiums in recent years