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.

It takes two

In the March 2007 edition of OpRisk & Compliance, Glenn Christensen of Synovus outlined the first part of his firm's two-pronged enterprise risk management methodology. Here, he describes thesecond part, and has some new findings and techniques to share

The top 10

OpRisk & Compliance outlines the top 10 challenges readers and their firms will face in 2008. By David Benyon, with additional reporting by Ellen Davis

The time is now

Now is the time for all good insurers to start preparing for Solvency II. Victoria Pennington explains what the new capital requirements for insurers will involve, and assesses the market's readiness for their implementation in 2012

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