Scenario analysis

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…

Risk roulette on eurozone scenarios

The European Union and International Monetary Fund agreed a €750 billion emergency loan package in early May, aimed at averting a sovereign default and wider crisis across the eurozone. Nonetheless, banks have been preparing for the worst, stress testing…

Sound scenarios

Mariano Selvaggi describes the issues the Operational Risk Consortium took into account when preparing its report on the use of scenario analysis of operational risk in insurance, and how a sound scenarios framework can benefit firms

Right place, right time

Eileen Robbins, vice-president in operational risk at the Depository Trust & Clearing Corporation, has a history of turning up just as things are kicking off. She talks to OR&R about the DTCC’s much-lauded handling of the Lehman Brothers collapse, and…

A sting in the tail

After recent financial turmoil, market participants are thinking much more rigorously about ways to protect themselves against the possibility of rare but extreme events. However, effectively hedging tail risk is not straightforward. By Mark Pengelly

A common language

Goldman Sachs’ operational risk management department has two global co-heads, Spyro Karetsos and Mark D’Arcy, who together are using a ‘Rosetta Stone’ approach to break down operational risk language barriers between business lines.

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