New op risk system patent, using Bayesian networks, awarded to IBM

jonathan rosenoer
Jonathan Rosenoer

A new US patent for an operational risk analytical system, which uses Bayesian networks, was awarded to IBM in July. Jonathan Rosenoer, currently head of operational risk at Bank of the West in San Francisco, was the lead developer on the project. In the middle of the last decade, when operational risk modelling was new, a flurry of patents were filed in the US by vendors, academics and financial services firms, for software products and broader analytical approaches. For example, Rosenoer's