OpRisk North America: Crisis highlighted op risk model failures, says Adachi

lego model

The financial crisis highlighted failures of risk modelling and governance, according to Mitsutoshi Adachi, director in the examination planning division at the Bank of Japan and chair of the Basel Committee on Banking Supervision's operational risk subgroup of the standards implementation group (Sigor).

Speaking at the OpRisk North America conference this week, Adachi said the financial crisis had demonstrated that model error could pose a significant threat - and that this also applies to oper