Firms rise to the op risk data management challenge
NEW YORK - Like all risk management problems, operational risk relies on a sufficient supply of good quality data if analysis is to be meaningful and decision-making effective.
The main types of data required for operational risk management are data on internal losses, risk self-assessments and key risk indicators. The most problematic of these three types is the first. "One of the main difficulties [with internal loss data] arises because a lot of the data is not transaction related so
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