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.
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
The convenient untruth
SPONSORED STATEMENT
FSA finds room for improvement in op risk practices
Daily news headlines
Optial launches business intelligence module for op risk
Daily news headlines
The bigger picture
In 2003, rating agencies considered operational risk as a separate risk category, but quantification problems have prompted them to take an integrated, enterprise risk management approach.
The online frontier
2007 has been a year of online activism and banks have paid the price. Is there an emerging reputational risk threat posed by bloggers and discussion forums? Peter Madigan investigates
Mario Mosse
Volunteer work
Does Basel II add up?
Are there inconsistencies in the standardised and advanced measurement approaches of the Basel II regulatory framework? Andreas Jobst considers the evidence
Incentives needed to push SEPA implementation
NEWS IN BRIEF
What's happening at JP Morgan Chase?
Recently, many have come forward to ask me what is going on within JP Morgan Chase's risk management division. Over the past year, a number of people have left the operational risk team, both at the corporate and business unit levels. Risk executives in…
A calculated approach
Operational risk economic capital calculation is high on the agenda - at last. So who is using it, and why? A new OR&C Intelligence survey investigates
Time to shine
In the wake of the subprime crisis and resulting global credit crunch, operational risk practitioners must seize the opportunity to prove the value of their discipline, says Ellen Davis
Subprime: Algo First database extols enterprise risk management
Daily news headlines
Apra wants firms’ op risk loss data
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GCC banks behind on Basel II requirements
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Doing the groundwork
The start of Reg NMS's pilot phase in July may have led compliance teams at brokerages to believe most of their work is done. But, as Peter Madigan explains, things are just getting started