KRIs: that difficult age
Key risk indicators (KRIs) were once the golden child of operational risk, but they are now in the midst of a turbulent adolescence. Peter Madigan asks whether KRIs will start to grow up in the next couple of years
Given the width and breadth of threats and issues that fall under the umbrella of operational risk, the term itself can seem disingenuous. The sheer number of potential sources of op risk is considerable, and matched only by the number of risk measurement and management tools that have been developed to minimise them.
Control risk self-assessments, internal and external loss data, risk modelling
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