Landesbanken's operational risk management tool

Many German banks lag behind their peers when it comes to operational risk management. The proposed new international bank capital accord, Basel II, which - for the first time - stipulates a separate capital charge for operational risk, has put the topic on the banks' agenda. But modelling such risk is not easy, and so far, most banks have focussed on market and credit risks instead.

This wait-and-see policy may now pay off. A group of Landesbanken has jointly developed an operational risk management tool that they are now pitching to other banks in Germany - and abroad. The web-based software, dubbed Operational Risk Center (ORC), comprises four modules for: creating a loss database, conducting a self-assessment, establishing a risk profile and risk factors.

ORC is cheaper than other off-the-shelf operational risk tools, compatible with all IT systems, and because of its

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