How banks handle and model emerging operational risks
Spreading the net wide enough to catch as many data sources as possible is key to tackling emerging risks, as is setting up a structure to handle the associated modelling and management problems
Living as they do, for much of the time, in the tail of the loss distribution diagram, operational risk professionals need to pay attention to events without much in the way of loss history, either due to their infrequency or because they are emerging as risk types.
Good emerging risk management depends on sorting through multiple external and internal data sources, and limits to the
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