Dipo conference: Loss-data consortiums switch focus from quantity to quality

Quality over quantity

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Operational risk loss data from external consortiums has traditionally been used by financial institutions to model a capital number for op risk, but increasingly it is being used for broader op risk management purposes. "Data and consortiums are important to use to calculate capital requirements, but also for operational risk management," said Gianfranco Torriero, chairman of the board of directors at Dipo, the Italian loss data consortium, at its annual conference held in Rome in September.