The final version of the Basel Committee on Banking Supervision’s operational risk capital rules is an improvement, but will still leave banks and regulators with multiple headaches as they go about implementing it, op risk experts say.
Speaking at OpRisk Europe on June 12, Ruben Cohen, an independent risk consultant and previously director in op risk analytics with Citi, told delegates: “Many people in this room – including me – don’t believe this is a valid model.”
Attempts to make the SMA
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