State of the nation
How are US regulators and firms evolving their op risk frameworks to cope with recent market events? Victoria Pennington explores how the operational risk industry is developing in the US, and what challenges and hurdles remain
Regulators and bankers alike are still picking over the causes of the credit crunch and examining its implications for risk management. Recently, a conference held by the Federal Reserve Bank of Boston, New challenges for operational risk measurement and management, more specifically looked at how recent market events have affected modelling techniques and operational risk frameworks.
The two-day conference focused on problems with scenario analysis techniques, the continuing limitations of
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