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.
ORR Innovation Awards: Insurer of the year
Zurich Financial Services
ORR Innovation Awards: Initiative of the year
Revised ORX data reporting standards
ORR Innovation Awards: Paper of the year
Robust estimation of operational risk
Expected problems
The capital reductions to be gained from properly assessing expected losses can’t be ignored, says Marcelo Cruz
Fatca statement adds to confusion
A statement released alongside draft Fatca regulations makes for further confusion, says expert
Industry split over draft Fatca regulations
Industry experts disagree on the effectiveness of the much-anticipated draft Fatca rules
UBS could 'get slammed' by FSA enforcement investigation
The FSA announces commencement of its formal investigation that could see UBS 'get slammed', according to one legal expert
Adoboli plea will complicate trial, say lawyers
'Not guilty' plea could be stalling tactic or attempt to spread guilt, lawyers say
Banks' AML procedures struggling under regulatory change
Experts warn that banks are unable to keep their AML programmes up to speed because of changes in regulation
Internal fraud will rise in 2012, experts warn
Internal fraud is on the increase in the face of downsizing and recession, according to industry experts
Operational risk in dangerous regions
Danger zones
Too much too soon?
Editor's letter
Draft Fatca regulations will include reciprocity, experts say
Industry experts say Fatca draft regulations are likely to include reciprocity elements
Insurance sector struggles with US regulators' lack of clarity on Fatca
Uneasy anticipation
The correlation of operational risk with economic scenarios
Marcelo Cruz highlights the problems that can arise when analysing the relationship between operational risk and macroeconomic factors
Regulations will scare off investment in banking sector, insurance industry warns
Banks might find a lack of investment from the insurance sector under current regulatory proposals
Tech firms prepare euro break-up contingencies
Break-up blues
July deadline in question for Volcker implementation
Industry experts divided over Volcker deadline of July 2012
Delayed Fatca regulations look set to ignore 'passthru' payments
Further uncertainty expected by the industry once delayed draft Fatca regulations are released
Operational risk lessons from safety-critical industries
Inspiration from above