Operational Riskdata eXchange Association (ORX)
Dipo conference: Loss-data consortiums switch focus from quantity to quality
Quality over quantity
ORX surveys finds scenarios are thriving
The Operational Risk Data Exchange (ORX) recently surveyed its members about their use of scenarios in managing operational risk, and discovered firms attribute considerable value to the process
Mizuho provides a model model for AMA in Japan
Japan’s regulator points to Mizuho Financial Group’s operational risk management model as an example for banks in the country to follow. Shigehiko Mori, the group’s head of operational risk, talks about how the model works and his plans for continued…
New chairman and board for ORX
Mignola new chair of Operational Risk data eXchange
Consortiums look beyond historical loss data
The financial crisis has shown historical loss data is not enough to help model and predict future op risk events, so some loss data consortiums are looking to include features such as scenario analysis results in their databases
How to make VAR go voom
An amended approach to value-at-risk that focuses on the drivers of risk and the use of agent-based modelling and simulation to capture the bounded rationality of human decision-making
Loss leaders
Operational risk is potentially the biggest risk faced by insurers – and also one of the most difficult to model. However, as a number of loss data aggregation initiatives globally either emerge or mature, insurers are better placed to quantify their op…
Making Solvency II stick
Dubbed 'Basel for insurers', operational risk management under the Solvency II regime is still mystifying most in the insurance world. This case study highlights the basic issues to consider.
The case for scenarios in op risk loss databases
Scenario analysis is gaining in popularity following the crisis and loss data consortia are quick to cater for this renewed interest
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…
Webinar -- Managing Op Risks in Crisis
Register to listen to a Webinar from OpRisk & Compliance, held on March 31, in London, featuring Simon Wills from ORX and John Wittaker from Barclays, sponsored by OpenPages.
ORX chooses OpenPages and IBM partnership
Daily news headlines
Spanish sensibility
BBVA's global head of operational risk, Jordi Garcia, takes a pragmatic, hands-on approach to managing the Spanish bank's op risk. Duncan Wood talks to this veteran of the industry about the unique quality of Spanish loss data, Basel II and life at the…
Mario Mosse
Volunteer work
Strength in numbers
Data consortiums for loss information are popping up all over the globe. Why are they proving so popular? Duncan Wood reports
The data puddle challenge
The loss event taxonomies currently in use are inadequate. The worst problem is the lack of clarity with regard to the boundary conditions between risk event categories. Tara McLenaghen explores the issues
Event horizon
Rick Cech takes a second look at what makes up operational risk event types, and asks if there is a more advanced way to define them
ABI launches loss event database for insurers
LONDON – A new loss event database for insurance companies was launched at the end of September by the Association of British Insurers (ABI), in conjunction with software firm SAS.
German banks plan op loss data consortium
A number of German public-sector banks will start pooling operational loss data next year, in a bid to create an op risk loss database that could, they say, eventually include banks from other European countries.
ORX database expected early next year
LONDON - The operational risk loss database run by the Operational Riskdata eXchange Association (ORX), a consortium formed by 12 international banks to pool their op risk data confidentially, is expected to begin operating around the start of February,…