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.
Consultancy rankings: Preparing the next war
Still reeling after the crisis, financial firms have been cautious in their uptake of consultancy services. This year's OR&C consultancy rankings show those at the top got there by adjusting their strategy to help firms prepare for whatever might be…
Make it personal
Operational risk managers need to do more than merely collating and analysing loss data, they need to add value by working towards the firm's business objectives. This can be achieved using stress testing and scenario analysis, which add a human element…
All in his stride
Hamish Lock had to hit the ground running when he became head of op risk at Bank of Montreal just over a year ago. But taking on a new risk role amid a global financial crisis hasn't fazed him, and he is already well on the way towards achieving his new…
Taking a health check
When global economic recovery eventually takes place, it is essential energy trading organisations are in a position to capitalise on market changes. Julie Shochat and Ryan Rogers of Enite set out some guidelines
A shining example
In the oil and gas industry, there's a lot to lose if operational risk management isn't top notch - lives are at stake. Financial services firms would do well to imbue their op risk frameworks with the same sense of significance, says Victoria Pennington
OpRisk & Compliance -- A Short Intro
A brief video from editor Victoria Pennington outlining the benefits of the new home online for OpRisk & Compliance
Market practices ‘back to basics’ after Lehman collapse, says study
Lehman’s fall has made cautious deal-makers focus on legal risk and risk analysis
Cebs publishes final guidelines on op risk implementation
Compendium of supplementary guidelines on implementation issues of operational risk published by Cebs