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.
Karetsos moves to Vanguard for ERM
Global co-head of op risk departs Goldman Sachs for ERM role at Vanguard
UK FSA’s new standardised approach paper not just for TSA firms
New paper from the UK FSA sets out guidelines for TSA operational risk frameworks
Suggestions of sabotage at LSE 'ridiculous' says IT consultancy
Source speculates LSE's two-hour closure in November probably due to software problems
IOR promotes development of KRIs in new guidance
Institute of Operational Risk says firms must use key risk indicators to assist decisions, not make them
Foreclosures failings could lead to 'second round of crisis'
Former US Senate special counsel predicts trouble for institutions struggling to foreclose mortgages
Gulf One's Rowan: Op risk value lies in strategy
The thinker
Op risk appetite: Do firms have a balanced diet?
A balanced diet?
Product suitability top concern for Asia op risk managers
A suitable ploy
Malmgren tells IOR: Op risk managers should track geopolitical developments
Geopolitical developments feed into op risk
Leonard joins DTCC as head of op risk
Depository Trust & Clearing Corporation appoints Andrew Leonard as managing director and head of operational risk
The impact of regulation on the global OTC market
Three web seminars – in Hong Kong, London and New York – exploring key changes in international OTC derivatives regulation from a regional perspective
Asian growth may mask operational risk problems
The dangers of rapid growth
Cebs issues finalised guidelines on op risk in market activities
Cebs op risk guidance finally finds favour
Risk forum: evaluated pricing
Stepping up to the plate: evaluated pricing, operational frameworks, governance and technology tools
Andrew Sheen moves roles within the FSA
Sheen moves from op risk policy to the prudential risk department of the UK Financial Services Authority.
Vote in the 2010 Risk magazine technology rankings
Vote for the top vendor in a variety of risk management and derivatives trading technology categories.
Demands on loss consortia changing, says BBA and consultancy
British Bankers' Association launches co-operative effort with RiskBusiness
Op risk responsibility: The buck stops with everyone
A problem shared...
Ferma and ECIIA launch guidance on EU company law directive
Independent mentality is essential as EU broadens the role of audit committees
Middleware at fault for Barclays clearing break
Middleware at fault for Barclays clearing break
IOR issues new guidance on governance in risk management
OR&R gets an exclusive preview of guidance paper from the Institute of Operational Risk to be issued on 15th.
ORX surveys finds scenarios are thriving
The Operational Risk Data Exchange (ORX) recently surveyed its members about their use of scenarios in managing operational risk, and discovered firms attribute considerable value to the process
Asset managers feel the op risk pressure
Increased regulatory scrutiny combined with investor demand for better transparency and corporate governance standards is driving improvements in the way operational risk is managed at asset and fund management businesses since the events of the…