Operational risk

WHAT IS THIS? Operational risks are those arising from people, processes and systems – the biggest form of exposure for many industries, but one that was neglected by financial firms until the collapse of Barings Bank in 1995. It was added to the Basel capital framework in 2004, but attempts to model operational risk were dealt a heavy blow by the huge, unforeseen losses suffered by banks in the aftermath of the financial crisis.

Ten laws of operational risk

This paper sets out ten laws that govern the behavior of operational risk relating to the occurrence and detection/duration of events; the rapidity with which firms suffer losses; the lags in crystallization of losses; and internal and external drivers…

How to successfully mitigate fraud – AI in action

Fraud is evolving, with influences spanning technical sophistication through to turmoil and crisis. Most recently, the Covid-19 pandemic has thrown an additional spanner in the works. As the drivers behind these activities are becoming more varied, the…

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