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.

Self-assessments for scorecards

In this second and final paper on the scorecard approach to operational risk, Dresdner Bank's Ulrich Anders and Michael Sanstedt discuss the logistics of preparing and implementing the self-assessment questionnaire, before discussing the advantages and…

Lepus lists op risk leaders

US firm OpRisk Analytics, Canada-based Algorithmics, and UK company Raft International are leading the operational risk vendor market, according to a report published in January by management consultancy Lepus.

Fitch upgrades OpVar tool for operational risk

Fitch Ratings has added a range of new services to its OpVar software suite, an operational risk management quantification tool. Version 5.0, scheduled for release in March, now offers an enhanced data collection module and improved data management…

An operational risk scorecard approach

Operational risk scorecards have been in the spotlight since the Basel Committee on Banking Supervision’s 2001 paper on op risk treatment under Basel II. In the first of two articles, Ulrich Anders and Michael Sandstedt of Dresdner Bank examine what,…

ORX database expected early next year

LONDON - The operational risk loss database run by the Operational Riskdata eXchange Association (ORX), a consortium formed by 12 international banks to pool their op risk data confidentially, is expected to begin operating around the start of February,…

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…

Raft forms user group for Radar op risk products

LONDON – Risk management software provider Raft International said it has formed a user group for firms using the various modules of its Radar suite of operational risk tools. The first Radar User Group meeting will be on September 5 in London.

Raft forms user group for Radar op risk products

Risk management software provider Raft International has formed a user group for firms using the various modules of its Radar suite of operational risk tools. The first Radar User Group meeting will be on September 5 in London.

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