OpRisk North America: Back ORM with data not anecdotes, conference told

magnifying-glass

More analysis needs to be conducted on operational risk losses - and the results may shatter some long-held assumptions, according to Mark Garmaise, an associate professor of finance at the University of California in Los Angeles.

Garmaise presented his own analysis to the OpRisk North America conference in New York this week. He analysed five years of mortgage lending information from a single bank between 2004 and 2008 to detect patterns in misreporting borrower assets. He theorised that

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