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.
Building operational risk awareness
ORM for the masses
Munich Re: Using insurance to transfer op risk
Better together
Australian supers build up op risk reserves
Super plans
Operational infrastructure at hedge funds comes under closer scrutiny
Behind the facade
Changing Hats, January 2011
Changing Hats
Sigor's new sound practices paper says boards must set tone at the top
Sigor releases revamped sound practices paper
Operational Risk & Regulation 2012 Innovation Awards
Operational Risk & Regulation magazine will publish its annual awards in March. Find out how to enter here
Corruption dubbed most pervasive op risk for 2011
Control Risks report highlights the impact of the UK Bribery Act on operational risk management
Sound Practices paper updated by Sigor
Long-awaited redrafted paper on Sound Practices for Operational Risk Management released for consultation by Sigor.
Marco Moscadelli: The Bank of Italy man
After 20 years at Italy’s central bank, Marco Moscadelli knows his country’s banking industry well. But this hasn’t narrowed his focus, and pivotal roles on European supervisory bodies have also given him a say on how the operational risk is approached…
Shining a light on the flash crash
Flash cordons
The top 10 operational risks to watch in 2011
Batten down the hatches
Karetsos moves to Vanguard for ERM
Global co-head of op risk departs Goldman Sachs for ERM role at Vanguard
UK FSA’s new standardised approach paper not just for TSA firms
New paper from the UK FSA sets out guidelines for TSA operational risk frameworks
Suggestions of sabotage at LSE 'ridiculous' says IT consultancy
Source speculates LSE's two-hour closure in November probably due to software problems
IOR promotes development of KRIs in new guidance
Institute of Operational Risk says firms must use key risk indicators to assist decisions, not make them
Foreclosures failings could lead to 'second round of crisis'
Former US Senate special counsel predicts trouble for institutions struggling to foreclose mortgages
Gulf One's Rowan: Op risk value lies in strategy
The thinker
Op risk appetite: Do firms have a balanced diet?
A balanced diet?
Product suitability top concern for Asia op risk managers
A suitable ploy