OpRisk Europe: FSA’s Sheen warns on data quality
Operational risk managers need to bear in mind that loss data has limitations, says the FSA’s Andrew Sheen
Collecting loss information is an invaluable part of risk management, but op risk specialists need to be cautious and accept the data's limitations, according to Andrew Sheen, manager of the risk frameworks and governance team at the UK Financial Services Authority (FSA).
Speaking at the OpRisk conference in London today, Sheen argued that loss data is not just about modelling – it is also important in protecting against future losses. As such, op risk managers need to keep the potential
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