The case for scenarios in op risk loss databases
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 study, which was intended to give ORX a sense of where financial institutions are at with their
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