Top 10 op risks 2015: model risk
The ninth of our top 10 op risks for 2015 looks at scenarios and model risk. Regulators will become increasingly intrusive in attempts to ensure better models and model governance
One of the biggest concerns for operational risk managers in 2015 will be internal – dealing with growing worries, within banks and at regulators, about the validity of their capital models, especially those used for calculating operational risk capital.
There are serious problems involved in deriving a credible capital number from a loss data set dominated by a
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