Op risk tools usage ‘set to double’ – DSGV
BERLIN – The German Savings Bank Association (DSGV), based in Berlin, expects the number of financial institutions using its op risk tools to double within a year, says Johannes Voit, head of internal models at the organisation.
For the last four years, the DSGV has been working on a set of op risk management tools that could be used within all the country’s 477 savings banks (sparkassen). The national roll-out began last October and Voit estimates that around 100 sparkassen – from the big city-based institutions to their humble rural cousins – are now using the first of those tools, an operational loss database. Between
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