In this paper, the authors provide a comprehensive review of the different approaches developed to model operational risk, specifically focusing on the actuarial approach.
Global perspectives on operational risk management and practice: a survey by the Institute of Operational Risk (IOR) and the Center for Financial Professionals (CeFPro)
This paper presents survey results which represent comprehensive perspectives on operational risk practice, obtained from practitioners in a wide range of countries and sectors.
Citi, JP Morgan settle Sibor rigging claims; Europe matches US on AML fines. Data by ORX News
Year to year, op RWAs have swelled $24 billion
New working group will focus on business continuity in the age of cyber threats
Six of seven stress-tested banks report 50% fall in legal and regulatory reserves
Industry moves to revise out-of-date categories that feature risks such as cheque fraud
UK cyber incidents increased 18% over past 12 months, despite apparent confidence in systems
Risk Awards 2019: Goldman’s long-serving CRO helped bank survive the crisis, and then adapt to new world
Financial firms are increasingly adopting the three lines of defence framework to manage risk. But how has the model evolved to date and what does the future look like for this key risk management tool?
This paper evaluates the operational risk capital requirements of large US banks to determine whether they are forward looking, sensitive to banks’ current exposures and designed to allow for risk mitigation.
There is no concord on how banks should police their model risk. But two Fed economists have an idea
Banco Santander posted the largest decline – at 7% – with op RWAs falling to $70 billion
The two firms reduce op RWAs by combined $15 billion in third quarter
UK regulators’ letter to firms could be followed by Pillar 2 charge to speed transition to Sonia
Swift hack targets State Bank of Mauritius; Capital One, Mashreq, hit by AML fines. Data by ORX News
Python is rapidly becoming the world’s most popular programming language and its versatility and ease of use has enabled it to achieve widespread adoption in finance, becoming the multipurpose tool of choice for quantitative analysts and other financial…
In this paper, the authors look at B-tests: methods by which it is possible to identify internal fraud among employees and partners of the bank at an early stage.
Optimisation efforts preserve capital ratio despite $14.5 billion of cash returns to shareholders
SocGen provisions for sanctions violations; has the SMR prompted more bank CEO resignations? Data by ORX News
The Basel III output floor will impose the single largest Tier 1 capital requirement on 46% of G-Sibs
Median savings shrink to 5.1% from 19% at end-2015