Op risk needs more weight in business decisions – NY Fed

The Federal Reserve Bank of New York is placing greater emphasis on how firms are using operational risk tools from a day to day risk management perspective

federal-reserve-bank-new-york
The NY Fed supervises enterprise risk at large, complex financial institutions

Instances of external loss are widely recognised to be an important weapon in the operational risk manager's arsenal. Among other things, the use of data on external loss events is required under the advanced measurement approach (AMA) to operational risk capital drawn up by the Basel Committee on Banking Supervision.

But Dennis Ryan, head of operational risk oversight for large institutions at

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Emerging trends in op risk

Karen Man, partner and member of the global financial institutions leadership team at Baker McKenzie, discusses emerging op risks in the wake of the Covid‑19 pandemic, a rise in cyber attacks, concerns around conduct and culture, and the complexities of…

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