Around 100 UK insurance firms are thought to have opted to go for the internal model approach to operational risk under Solvency II, although few have yet figured out exactly how they are going to model...
The Operational Risk Industry Consortium (Oric) set up by Angelos Deftereos has opened up the market for using insurance to mitigate op risk
The computational requirements of Solvency II are driving the need for more computing power and data storage accessible on a scalable basis. Early adopters are leveraging cloud computing for their Solvency II implementation. Others are taking a more cautious approach, waiting for the industry to address key concerns such as security before they to embrace computing.
More Features/Operational Risk articles
Penny Cagan has championed tirelessly for the op risk community to take a more qualitative approach to operational risk measurement
Canada's central bank has built a robust op risk framework that is baked into all aspects of the organisation, and is continuing to invest in the discipline
In response to industry fears of a collateral crunch, regulators have revised the proposed rules on margining for uncleared over-the-counter (OTC) derivatives.You can find out more by downloading this white paper here.