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.
Risk Australia Autumn 2011
Counting the costs
Risk managers not convinced Basel III will help manage risk
Almost half of Fitch survey respondents say lack of regulatory clarity is the biggest issue facing the risk management industry
Risk governance biggest area of change for firms, says E&Y report
Ernst & Young's industry survey shows firms have made some improvements to risk governance and transparency, but more work still needed
Farnham appointed CEO of Turquoise
Replaces David Lester, who has become chair of the London Stock Exchange Group
Elcock appointed chief risk officer at Coventry Building Society
Ex-Barclays manager takes up role in Coventry
Christensen joins Invesco as global head of risk enterprise
Christensen will work to identify, monitor and manage key risks within the business
Security technology adviser Gorman joins Bank of America Merrill Lynch
Gorman's career spans more than 20 years in US security and intelligence technology
Middle-office managers win as compliance focus pushes up pay
ComPeer survey of wealth management firms finds middle-office heads highly valued, as industry faces 'onerous regulatory burden'
UK Treasury Select Committee says banks doing 'little work' to combat online fraud
Report express concern over disparity between growth in internet banking activity and banks' efforts to improve security
Chinese banks move closer to advanced measurement approach
Two requests for proposals to help build AMA programmes issued in China
Vote for the top compliance software vendor
Vote for the top vendor in a variety of compliance and risk management categories
Modelling op risk for Solvency II
Fits and starts
Types of operational risk loss by event, February 2009 to February 2011
Types of operational risk loss by event, February 2009 to February 2011
ORX studies op risk scenario best practice
The prediction process
UK fines increase as FSA ditches soft approach
No more Mr Nice Guy
The ORR 20: Op risk software survey
Room to move
How BlackRock's David Ridgway handles the truth
Handling the truth
Changing Hats, April 2011
The latest movers and shakers in operational risk
Japan crisis proves value of multivariate scenarios
Japan shows value of multivariate scenarios
Eiopa: Internal models beneficial under Solvency II
Eiopa: Internal models beneficial under Solvency II
OpRisk North America: ‘Nasty’ new regulation threatens foreign banks in the US
The Foreign Account Tax Compliance Act expected to impact on the systems and operations both of US and foreign firms
OpRisk North America: Moving OTC trades onto CCPs will increase op risks
Moving OTC trades onto CCPs will increase op risks
OpRisk North America: US foreclosure crisis highlights boundary risks
US foreclosure crisis highlights boundary risks
