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.
Dealing with the rise of Web 2.0
The rise of Web 2.0 may seem in some ways to be a subject rather remote to the normal concerns of an op risk or compliance executive.
Untangling the risk information knot
In a new OpRisk & Compliance Intelligence survey, sponsored by BearingPoint Management & Technology Consultants, data issues rank high on the risk executive's list of problems. Can Web 2.0 change the face of risk information collection?
A question of discipline
Op risk is showing signs of maturing, although there is still much work to be done. So delivering value to the business continues to be a substantial challenge, according to a new survey
Profile: Joe Sabatini and the rules of engagement
The guiding principles of Basel II are now shrouded in mists of regulatory detail, says JP Morgan's Joe Sabatini. He tells Duncan Wood op risk managers must now look beyond mere compliance, and focus on adding value to their firms
Changing culture
In the second of a series, Eric Holmquist considers some specific goals in trying to establish a risk culture
Keeping pace with a changing industry
Welcome to the 'new look' OpRisk & Compliance magazine. As many of our long-time readers will know, OpRisk & Compliance has come a long way over the past few years – we are working hard to keep up with the rapid evolution of the disciplines of…
Harnessing our differences
In the first of a series, Eric Holmquist considers the characteristics, challenges and opportunities in developing a risk culture
Global warming: a new risk for firms
MANAGEMENT
Two heads are better than one
Glenn Christensen of Synovus Financial Corp. introduces an enterprise risk management strategy known as the Bifurcated ERM Methodology
Resolving the confusion
Risk control self-assessments have become a Tower of Babel for the op risk discipline, with a variety of different approaches being taken. Ellen Davis reports
Bumf and bumf-ability
Each time a directive is altered in the run-up to implementation, the resulting rewording and reprinting of documentation can prove almost as challenging as getting the changes accepted by the industry. When that directive is as large as Mifid, a whole…
Gait marches towards greater security
MANAGEMENT
GAO report: common sense with a twist
The new report from the US's Government Accountability Office has much common sense in it.
Six can fix it
Op risk executives get visibly animated when discussing the subject of Six Sigma, but not many are taking advantage of it. Ellen Davis asks why
Event horizon
Rick Cech takes a second look at what makes up operational risk event types, and asks if there is a more advanced way to define them
OP RISK IN ASIA: Time for change
Implementation of the core principles of op risk still has a long way to go in the Asia-Pacific region. Ellen Davis reports
All in the mind
The number of op risk patent applications filed in the US has soared. Duncan Wood investigates the efforts being made to protect intellectual property