OpRisk Europe: on cyber, risk governance and Basel’s SMA

OpRisk and Cyber Risk Europe conferences spark debate on role of op risk and cyber security

Victoria Park Plaza
OpRisk Europe 2016 took place at the Victoria Park Plaza in London

OpRisk and Cyber Risk Europe conferences spark debate on role of op risk and cyber security

Operational risk managers and information security personnel heard about best practice in risk management and cyber security during the annual OpRisk Europe and Cyber Risk Europe conferences in London on June 14 and 15.

Among the topics discussed during the two days were the Basel Committee on Banking Supervision's proposed standardised measurement approach (SMA) to operational risk capital, the three lines of defence model and the relationship between cyber and operational risk.

To read more, please click on the articles below.

UK financial firms lack ‘basic cyber hygiene’, says FCA
Financial regulator says it will challenge firms more regularly on cyber security

Basel’s Adachi: banks may discard some loss data under SMA
Losses from discontinued businesses may not count towards op risk capital

Operational risk managers told to do less to succeed
Resist temptation to intervene often, says head of op risk at UBS Asset Management

Cyber is just a subset of operational risk, CISO says
Information security should use same framework as op risk, Cyber Risk Europe delegates hear

Three lines of defence a struggle, say op risk heads
Separation "theoretically perfect" but "practically, hugely flawed" says UBS's Hunt

 

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