Scenario construction: taking a standardized approach to benchmarking risk exposures (November 3rd, 2022)
A common obstacle faced by operational risk managers seeking to measure the threat posed by risks is the lack of data to help them assess the stakes. Nowhere is this more evident than for emerging risks and extreme events, for which data is not available or for which a given financial institution has simply not experienced losses. How do industry players propose to fill this gap and create an industry standard that could give a comprehensive picture?
Our Chatham House Rules discussion touched on how FIs are overcoming these data challenges and using scenario generation techniques.
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