A model future (part I)
Models that use factors such as key risk indicators, or KRIs, for inputs align the op risk function with credit risk and market risk - and may increase the effectiveness of operational risk within an organisation. Marcelo Cruz looks at key factors in structuring these models
My December 2011 column "KRIs: the Forgotten Input" produced quite a number of comments and emails, even until these days, from industry practitioners, regulators and bankers from all over the world, most of them praising the general idea and asking more details on how to make these models work. Of course there were a few emails that expressed disbelief that these models might work. Some are
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