Operational risk capital
Modelling operational risk under Solvency II
Fits and starts
Eiopa: Internal models beneficial under Solvency II
Eiopa: Internal models beneficial under Solvency II
Sponsored webinar: Meeting the Solvency II operational risk challenge
Solvency II introduces a new EU-wide regulatory approach to determine capital adequacy for meeting an insurer’s true risks. Due to come into force in 2012, Solvency II promises a more sophisticated ‘risk-based’ form of supervision that will require many…
Apra QIS shows operational risk capital to increase for insurance firms
Australian Prudential Regulation Authority says industry not ready to model for operational risk capital rules
Why funding liquidity risk deserves a place at the risk table
A place at the table
Australian supers build up op risk reserves
Super plans
Basel provides guidance on the use of insurance as a mitigant
Insurance covered
Op risk appetite: Do firms have a balanced diet?
A balanced diet?
Solvency II: op risk standard approach capital too high under QIS5, says UK insurer
Questions remain on the calibration of capital requirements for operational risk under Solvency II's standard formula.
MAS ups DBS's op risk capital number
DBS censured by Singapore regulator for IT outage, required to hold more op risk capital
OpRisk Europe: The slow drive for change
Speakers at OpRisk Europe agreed that, while change in op risk legislation and capital calculation is necessary, it needs to be undertaken slowly and carefully
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
Cebs updates op risk compendium; internal governance guide coming
Updated op risk compendium contains guidelines on op risk mitigation; internal governance guidelines on the way
Review imposes op risk capital charge on non-bank lenders
Mortgage lenders must hold capital for operational risk
Aussie insurers face new risk-based capital requirements
New explicit requirement for operational risk capital proposed for life and general insurance firms in Australia.
French banks under pressure to hold more op risk capital
Rogue traders and a worsening financial crisis are leading French regulators to put pressure on banks to hold more capital for op risk
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…
Learning to Love Basel II
Introducing a major insurance element to operational risk management processes is a passion for National Australia Bank’s Ross Love.
South Africa opts for Solvency II approach
Solvency II is not just an issue for European insurers. Faced with the increasingly global nature of the financial sector, South Africa’s financial regulator is bringing in its own version of the regulation. But the schedule to implementation is tight…
Understanding the Operational Risk Consortium’s scenario approach
The UK’s Operational Risk Consortium (Oric) recently published a report on the use of scenario analysis of operational risk in insurers. Mariano Selvaggi describes the issues Oric took into account when making its analysis and why establishing a…
Sound scenarios
Mariano Selvaggi describes the issues the Operational Risk Consortium took into account when preparing its report on the use of scenario analysis of operational risk in insurance, and how a sound scenarios framework can benefit firms