Loss data
Types of operational risk loss by event, May 2009 to May 2011
Internal fraud causes higher losses than any other type
OpRisk Europe: Revised ORX reporting standards due imminently
New standards will clarify definitions and requirements for reporting to loss data consortium
Types of operational risk loss by event, March 2009 to March 2011
Losses in the ‘Clients, products and business practices’ category continue
Sigor chair warns rising op risk losses not reflected in capital
Head of Basel op risk subcommittee notes rising losses in 2008 and 2009 compared with minimal capital growth
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...
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…
Consortiums look beyond historical loss data
The financial crisis has shown historical loss data is not enough to help model and predict future op risk events, so some loss data consortiums are looking to include features such as scenario analysis results in their databases
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.
An operational model
Scarce and shallow loss data has been the bane of operational risk models historically, but a new paper calls for more work on statistical approaches that could improve their sensitivity. By Peter Madigan
It's all relative
The Operational Risk Consortium recently carried out an analysis of its growing database of operational losses in the insurance business. It found evidence of the need for scaling, which suggests no firm's losses should be viewed in isolation. Mariano…
