ABA’s operational loss data sharing consortium


Dear Editor,

I am writing in response to the front-page article of your September 2005 issue. The article’s characterisation of the American Bankers Association’s (ABA) Operational Loss Data Sharing Consortium was misleading.

The ABA consortium was established to focus on the US market and collect US operational risk events. It offers a high-value, customised service to members at a reasonable rate, and it is well funded.

Our consortium follows Basel II AMA guidelines in defining business lines and loss event types, and in reporting loss data. The ABA serves as the impartial managing agent that ensures data integrity and anonymity, manages collection and distribution of data, and disseminates benchmark reports.

The ABA has years of experience in collecting operational loss data and the efficiency in running and maintaining this type of programme. Indeed, the ABA has been tracking deposit account fraud losses well before Basel II (since the 1990s). In total, ABA runs 11 benchmarking groups covering an array of operational risk related issues. Membership in our working groups has grown steadily.

I would be happy to talk further about our benchmarking pro-grammes and the value they offer.

Jane C Yao, PhD.

Managing director, Benchmarking and survey research

American Bankers Association

Editor’s note:

Operational Risk

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