Sales of operational risk solutions seem to be on the rise, but it is established vendors who are seeing deals close. Many small or new software houses in the op risk space seem still to be experiencing a lull in sales.
The UK's Financial Services Authority (FSA) has reformed its Operational Risk Implementation Advisory Group (ORIAG) as the Operational Risk Standing Group (ORSG), after deciding to disband ORIAG in the fourth quarter of 2003. The group is being chaired…
Operational risk came to the fore in 2003. Major software suppliers such as SunGard and SAS entered the market through partnerships with or acquisition of early entrant developers, while a number of established trading and risk management systems…
Operational risk management (ORM) is now under the spotlight with banks realising that there are savings to be made, according to a recent survey by SunGard Trading and Risk Systems. SunGard also found that Basel II is a significant driver for ORM…
Spending on operational risk management software looks set to grow in 2004 compared with last year, but will not reach its peak for another year or two.
The lack of a common agreement on the definition of operational risk by regulators will cause serious problems for global financial institutions, said Joanna Benjamin, a consultant to law firm Clifford Chance, at a late-November seminar at the firm's…
The Bank of England yesterday published an eagerly awaited report on how the government would handle a disaster striking the financial sector, such as a terrorist bombing.
A new study by the UK's Financial Services Authority into risk management at insurance firms concludes that, although practices are improving in general, there is a long way to go before insurers are at the same standard as other types of financial…
Victor Dvortsov and Ken Dragoon present an analytical method for including market and operational risks when estimating utility portfolio value-at-risk