OpRisk North America: on AMA, cyber and the role of op risk

Basel Committee’s controversial proposal on op risk modelling spurs debate at US event

This year's OpRisk North America conference heard passionate and often heated discussion about regulation, op risk modelling, cyber risk and the role of op risk managers within the business.

A particular focus of the event, held on March 15–16 in New York, was a January proposal by the Basel Committee on Banking Supervision to remove the advanced measurement approach to op risk, preventing banks from using their own internal models. While many banks criticised the move, some senior US regulators sought to defend the Basel Committee's position.

To read more, please click on the articles below.

Op risk models still needed despite SMA, says regulator
Models “play an important role in quantifying risk”, says OCC's Beth Dugan

Dump jargon and engage with business, op risk managers told
Operational risk urged to assume bigger role in strategic and HR decisions

Conference hears fierce criticism of Basel op risk plans
Op risk professionals pour scorn on SMA charge, but some bank experts speak out in favour

Op risk managers must be ‘change agents’, says Fed official
Fed's Gwendolyn Collins calls on op risk managers to be pioneers, not policemen

Cyber threats forcing business continuity overhaul
Communications need close attention when firms are attacked, conference hears

US DoJ reverses policy of withholding cyber-attack intelligence
Law enforcement failed to warn Heartland of 2009 security breach, says FS-Isac’s Nelson

Photogallery: OpRisk North America 2016
Free-to-view photographs from OpRisk North America 2016