Operational risk
WHAT IS THIS? Operational risks are those arising from people, processes and systems – the biggest form of exposure for many industries, but one that was neglected by financial firms until the collapse of Barings Bank in 1995. It was added to the Basel capital framework in 2004, but attempts to model operational risk were dealt a heavy blow by the huge, unforeseen losses suffered by banks in the aftermath of the financial crisis.
Basel Committee readies op risk and FRTB releases
Supervisors under pressure to finalise post-crisis reforms to capital rules
Modeling operational risk capital: the inconvenient truth
This paper shows that it is an "inconvenient truth" that the largest losses by banks are not firm specific.
Independent asset managers lag bank, insurer-owned peers on op risk
Capital requirements incentivise banks and insurers to enhance op risk management
Asset managers advance operational risk programmes
Independent asset management firms catching up with bank- and insurance-owned peers
Survey: Which op risks do you fear for 2016?
Your chance to shape our landmark annual forecast on operational risks
Application of the convolution operator for scenario integration with loss data in operational risk modeling
This paper addresses the uncertainty in scenario analysis and produces a combined loss distribution.
Best operational risk management software: IBM
Connectivity key to OpenPages' success
And so, farewell: David Rowe's final risk analysis column
After 16 years as our risk analysis columnist, David Rowe looks back at a recurring challenge
A comparison of alternative mixing models for external data in operational risk
This paper studies alternative mixing models for external data for a particular risk class.
Mifid II – Will you be ready to report?
Sponsored feature: Abide Financial
Top five losses: biggest internal fraud entry in 2015
Operational risk loss data – October 2015
JP Morgan and UBS compress forex books via start-up
NYC-based LMRKTS first broke cover two years ago; third bank participant is unknown
EU 'five-year delay' to Basel op risk modelling axe
Scrapping op risk modelling in Europe could take five years, say lawyers
Adios AMA: Basel proposal to bin op risk models worries banks
Firms doubtful about risk sensitivity of standardised replacement charge
Photogallery: OpRisk Awards 2015
Free-to-view photographs from the OpRisk Awards 2015
Operational Risk & Regulation Awards 2015: Best Compliance Product
Sponsored video: BAE Systems Applied Intelligence
'Have your cake and eat it': efficient op risk reporting
Cakes and candles can help risk managers get flavour right, argues Ariane Chapelle
Best regulatory reporting platform/service: Oracle Analytical Applications
Oracle addresses problems caused by Basel rules on data aggregation
Bank of the year: Rabobank
Dutch bank retools risk management framework
Best compliance product: BAE Systems Applied Intelligence
BAE Systems uses sophisticated network analysis to curb threat of money laundering
Best GRC product: MetricStream
MetricStream benefits from exclusive focus on governance, risk and compliance
Regulator of the year: Financial Action Task Force
FATF promotes risk-based approach in response to worries about 'de-risking'
Best financial crime product: Swift
Swift offers firms assistance in avoiding entities and individuals hit by sanctions
Best managed/support services provider: Thomson Reuters Org ID
Thomson Reuters managed service eases burden of know-your-customer rules