The case for scenarios in op risk loss databases
Scenario analysis is gaining in popularity following the crisis and loss data consortia are quick to cater for this renewed interest
LONDON – Scenario assessment is a sound tool for operational risk management but it is subjective and every financial institution approaches the scenario analysis process differently. Compiling scenarios into a loss database consortium seems a difficult task, but this is the way the market is heading.
The Operational Riskdata eXchange Association (ORX) has recently undertaken a scenario analysis
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