Setting the scene

Scenario analysis used to be a divisive issue. Advanced measurement approach (AMA) applicants fell more or less neatly into one of two camps: those using loss data to model operational risk, and those using scenarios. Each camp championed its own approach and cast brickbats at the other: loss data was incomplete or irrelevant; scenarios were an overly subjective short-cut.

Today, life is a little more harmonious, says Valerie Belhassen, global head of operational risk at BNP Paribas in Paris.

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Investment banks: the future of risk control

This Risk.net survey report explores the current state of risk controls in investment banks, the challenges of effective engagement across the three lines of defence, and the opportunity to develop a more dynamic approach to first-line risk control

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