Moody's assessment approach 'evolving', says new executive

In an exclusive interview with Operational Risk, an executive from Moody's Investor Services, the US-based rating agency, said the firm's approach to operational risk assessments is "evolving".

The agency recently declined to renew the contract of Brendon Young, who had been a consultant in the operational risk area in Moody’s London office, and who is also the chairman of the Operational Risk Research Forum.

Young published a detailed evaluation framework for op risk in January this year, which received much attention from the industry. This framework was being used as a platform for Moody’s to perform op risk evaluations on firms, and the agency had performed six such evaluations