Op risk benchmarking
Welcome to Op Risk Benchmarking, a new research service scrutinising op risk practices at a range of financial institutions. Each quarter, we’ll share some of the findings from one of four cohorts – G-Sibs, other banks, asset managers and insurers, and FMIs.
Participants get to see all the data – message us for details: ORMBenchmarking@risk.net
Tired of fat-finger blunders, G-Sibs turn to robots for help
Big banks speed up shift towards control automation and AI adoption to counter costly human errors, Benchmarking survey finds
On geopolitical risk, G-Sibs choose their battles
Conflicts – both existing and threatened – raise concern among banks, but many are still grappling to weave the risk into their frameworks
For compliance risk, the big get bigger
Second-line teams have been growing at US G-Sibs – and are set to continue – while Europeans’ flatline
For G-Sibs managing cyber outages, confidence makes the difference
IT disruption drops among top G-Sib concerns this year, as banks revamp models and retool risk indicators
Information security: mind the first-line gap
G-Sibs’ second-line cyber teams still growing, survey shows; others are overhauling KRIs and switching vendors
Op Risk Benchmarking: The G-Sibs
Using data submitted by 11 G-Sibs, our new Benchmarking series explores how the world’s largest banks are managing their biggest operational risks. Team sizes and setups, modelling practices, internal reporting, GRC vendors – take a look here.
Big Figure
Safety in numbers?
FMIs demonstrate broad variability in the size of the second-line teams tasked with overseeing infosec – but that’s starting from a relatively low base: many have teams comprising of just one specialist, while the mean average is slightly more than five.
Op Risk Benchmarking: Banks
Our second Op Risk Benchmarking series focuses on op risk frameworks at large domestic and regional banks, taking a deep dive into each of their top five risks: information security; IT disruption; change management; execution & process errors; and regulatory compliance risk.