Two major software failures have caused embarrassment and significant financial loss to leading financial institutions this year. OpRisk looks at the lessons to be learned from the RBS and Knight Capital...
This handy guide reviews the various steps banks are taking to improve their risk management techniques, looking at the benefits and pitfalls of each one.
More Operational risk articles
Clients still in the dark about RDR fees despite January 1 deadline passing
The continued scrutiny that financial services brands have been faced with since 2008 clearly shows no signs of going away. New research, conducted by Ordnance Survey, in association with Operational Risk & Regulation, shows that operational risk managers...
We demonstrate the operational risk associated with type II errors in typical lending decisions made by banks. Type II errors occur when loan officers misidentify healthy borrowing firms that are not destined to default and wrongly reject their legitimate...
The definition of operational risk given by Basel II is problematic when applied to institutions, since the risk only represents a potential loss. Staff and systems are considered to be the causes of losses, but this definition of risk does not take into...
This paper illustrates how fuzzy logic can be helpful for constructing event-type variables in operational risk management. Even when the available databases cannot be considered "native" fuzzy, we show that modeling them according to fuzzy intervals...
In this paper we discuss operational risk modeling and consider a general Bayesian context incorporating information on market risk profile, expert opinion and operational losses, taking into account the general macroeconomic environment as well. This...
Technology can provide a competitive advantage in banking. How it is applied by Tier 1 and Tier 2 institutions, to the benefit for their risk management systems, is discussed.
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