Op Risk Maths Makes For Sounder Judgements, Says Peccia
The benefit of applying rigorous maths to measuring operational risk is that it enables judgement to be used in a systematic, coherent and consistent way, according to Tony Peccia, vice president of operational risk at Canada's CIBC bank.
"There is nothing wrong with judgement -- it is used in business all the time, even by actuaries," said Peccia, who chairs the banking industry's technical working group. He was speaking at an internet conference in December organised by ERisk, the internet
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