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's Sigor to undertake review of operational risk regulatory framework
Wide-ranging review seeks to raise operational risk capital and overhaul the basic indicator and standardised approaches
Culture and checklists: Maersk's op risk management
Safe sailing
Video: Japan earthquake highlighted ‘lifeline role’ of banking services
Hiromi Yamaoka from the Bank of Japan, Masao Hasegawa from MUFG, and Takashi Oyama from Norinchukin Bank explain the lessons learned following the Great East Japan Earthquake on March 11. These include the importance of comprehensive business continuity…
Regulators failing to take the lead on operational risk, says new survey
Few regulators are taking operational risk seriously, says Mike Finlay, chief executive of RiskBusiness
Industry underestimating risk of cybercrime, forum hears
Survey results show infosecurity is a low concern, but industry expert says otherwise
Solvency II modelling could cause systemic risk, industry warns
Industry experts warn uniform modelling under Solvency II could lead to risk contagion
Solvency II causing uncertainty for risk managers
Call for lobbying push on details of new regulations
Risk managers have been falling behind, forum hears
Risks have overtaken risk managers in the past 10 years, according to speakers and delegates at the Ferma forum
Regulation not key driver for ERM within Nordics
ERM is being driven from within firms in the Nordic countries, according to survey results
UBS could face lawsuits after rogue-trading losses
Management failures could leave bank liable
Dangerous adaptation: the evolution of risk
Dangerous adaptation: the evolution of risk
RBC Capital to pay $30.4 million to settle charges
RBC Capital is charged with misconduct in the sale of CDOs by the SEC
Auditors to be changed every nine years, EC proposes
Leaked draft EC regulation demands sweeping changes in auditor regulation
Sponsored feature: MEGA
Going further with Solvency II – The Unipol Group story
Greater focus on OTC derivatives op risk required in Asia – Celent
Market participants in Asia need to focus more on operational risks associated with their resurgent OTC derivatives trading volumes, especially as the market moves towards trade repositories and central counterparty clearing, according to a new report…
Video: BBA says banks at risk of losing investors under ICB proposals
The capital requirements in the ICB report could make investment in financial institutions unattractive
Banks fear Fatca raises operational and systemic risks
Facing up to Fatca
Axa Rosenberg clients 'betrayed' by co-founder
Clients of Axa-Rosenberg lost $217 million because its co-founder concealed an error in one of its models, regulator says
Video: BBA gives first, exclusive views on the ICB report
In an exclusive interview, the BBA discusses whether the ICB should have looked more closely at other separation models for its final report on financial stability in the UK
Credit risk boundary events to be a focus for regulators
The Basel Committee's Sigor group will spend time on credit risk-related operational risk loss events at its upcoming October meeting in Frankfurt
A copula-based simulation model for supply portfolio risk
Research Papers
The role of systemic people risk in the global financial crisis
Research Papers
A framework for the analysis of reputational risk
Research Papers