In operational risk, the future ain’t what it used to be
Just because we can't measure op risk accurately doesn't mean we should give up, argues Peter Sime
Peter Sime is a senior adviser at UK-based legal data consultancy D2 Legal Technology and a former head of risk and capital at the International Swaps and Derivatives Association
Yogi Berra famously said: "It's tough to make predictions, especially about the future." He was right. It's even harder when trying to predict rare events. Credit risk generally requires quite a lot of data to model
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