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.
Malmgren tells IOR: Op risk managers should track geopolitical developments
Geopolitical developments feed into op risk
Leonard joins DTCC as head of op risk
Depository Trust & Clearing Corporation appoints Andrew Leonard as managing director and head of operational risk
The impact of regulation on the global OTC market
Three web seminars – in Hong Kong, London and New York – exploring key changes in international OTC derivatives regulation from a regional perspective
Asian growth may mask operational risk problems
The dangers of rapid growth
Cebs issues finalised guidelines on op risk in market activities
Cebs op risk guidance finally finds favour
Risk forum: evaluated pricing
Stepping up to the plate: evaluated pricing, operational frameworks, governance and technology tools
Andrew Sheen moves roles within the FSA
Sheen moves from op risk policy to the prudential risk department of the UK Financial Services Authority.
Vote in the 2010 Risk magazine technology rankings
Vote for the top vendor in a variety of risk management and derivatives trading technology categories.
Demands on loss consortia changing, says BBA and consultancy
British Bankers' Association launches co-operative effort with RiskBusiness
Op risk responsibility: The buck stops with everyone
A problem shared...
Ferma and ECIIA launch guidance on EU company law directive
Independent mentality is essential as EU broadens the role of audit committees
Middleware at fault for Barclays clearing break
Middleware at fault for Barclays clearing break
IOR issues new guidance on governance in risk management
OR&R gets an exclusive preview of guidance paper from the Institute of Operational Risk to be issued on 15th.
ORX surveys finds scenarios are thriving
The Operational Risk Data Exchange (ORX) recently surveyed its members about their use of scenarios in managing operational risk, and discovered firms attribute considerable value to the process
Asset managers feel the op risk pressure
Increased regulatory scrutiny combined with investor demand for better transparency and corporate governance standards is driving improvements in the way operational risk is managed at asset and fund management businesses since the events of the…
Mizuho provides a model model for AMA in Japan
Japan’s regulator points to Mizuho Financial Group’s operational risk management model as an example for banks in the country to follow. Shigehiko Mori, the group’s head of operational risk, talks about how the model works and his plans for continued…
BP’s Gulf of Mexico oil spill will not push fuel switching
Experts quash fears that tighter restrictions following BP’s Gulf of Mexico oil spill will result in oil to gas fuel switching in the US, thus pushing up gas prices
Data and systems top concern for op risk managers, says survey
Survey responses from more than 50 op risk managers suggest data and systems management is the leading concern, rather than adopting an enterprise risk management framework, which was flagged as the top issue in last year's poll
Brazil poised for real change on Basel II
Brazil is justifiably proud of the progress it had made in the implementation of Basel II, due for completion in 2013. However, a sudden increase in lending is raising a host of data issues and diverting management’s attention away from operational risk
ANZ's Page: The op risk manager is the goalkeeper
Chris Page, group head of risk management at ANZ, sees his role as “guardian of the balance sheet” as first and foremost, but is also aware that sometimes he needs to stand his ground on risk issues, as he might be the last man standing between the bank…
Cebs responds to critics with new op risk paper
Committee issues second consultation paper to address concerns over level of detail in op risk guidelines on market-related activities
Change is the only constant
Regulatory change is inevitable, but those in Basel say they are taking it slow