Pricewaterhouse Coopers Unveils New Operational Risk System
NEW YORK--Pricewaterhouse Coopers' (PwC) Financial Risk Management practice has developed an operational risk quantification tool, dubbed OpVar. The measurement framework uses a bottom-up approach to measure each business unit's exposure to operational risk by applying actuarial science techniques to derive an operational risk VAR.
Michael Haubenstock, a partner at PwC, says OpVar is not a shrink-wrapped software product. Rather, it is a modeling approach and database of loss events that forms
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