OpRisk North America: Speakers question value of capital numbers


Operational risk capital is becoming irrelevant as a risk management tool, argued speakers at the OpRisk North America conference in New York on March 22. Christopher Haines, head of operational risk management at American Express, came to operational risk management via the other categories of risk - and used his experience to draw a distinction between the metrics used elsewhere and the capital number used in operational risk. "We were all hooked on value-at-risk, or we read our credit repo