Operational risk modelling

How to make VAR go voom

An amended approach to value-at-risk that focuses on the drivers of risk and the use of agent-based modelling and simulation to capture the bounded rationality of human decision-making

Clear and present danger

Transparency is a concept that has been bandied about by banks a lot lately, usually when they know the press is watching. But just how transparent are banking practices, and just how clear is the Basel approach to operational risk?

Passage to India

It’s a long way from Basel to Mumbai, and it will be a while before India’s banks have fully implemented the Basel II capital requirements framework. OR&R looks at how far they have come, and the obstacles they must overcome on the path ahead

StanChart's Cherriman harnesses people power

Andrew Cherriman, head of operational risk management for wholesale banking at Standard Chartered Bank in Singapore, says his ability to rely on expert staff is the key to operating a sound risk management system across the bank’s many jurisdictions.

The hidden risk

Risk is inherent in the use of spreadsheets within financial institutions but it has long been ignored. Now regulatory scrutiny into processes is spurring growth in the market for spreadsheet control solutions. Nolan Gesher explains why they are worth…

An operational model

Scarce and shallow loss data has been the bane of operational risk models historically, but a new paper calls for more work on statistical approaches that could improve their sensitivity. By Peter Madigan

Highly cultured

Patricia Jalleh, head of group operational risk at United Overseas Bank Group, says that to achieve a robust op risk framework, a risk culture must be well and truly embedded within the firm. And no risk culture is perfect - it's a matter of constantly…

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