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
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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