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 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…
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,…
Collecting and storing appropriate operational risk data remains a problem for technology managers and operational risk managers alike. Is any progress being made?
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,…
Many banks are not effectively applying risk tools when pricing and structuring deals, according to research and consultancy company PA Consulting.
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…
LONDON – London-based operational risk management software firm Amelia Financial Systems said today that London Bridge Software Holdings plc had acquired a stake in the company of less than 20%. However, they declined to give a specific figure.
BASEL, SWITZERLAND - Global banking regulators said there was a good response from banks to the operational loss data collection exercise that the regulators launched in June to help them refine the op risk aspects of the Basel II bank accord aimed at…
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.
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.
London – Financial firms complying with the operational risk policy outlined today by UK financial regulators should be well prepared for the systems and controls needed under the Basel II bank accord and parallel European Union (EU) rules.
Protective capital is an incomplete line of defence against operational risk and effective op risk measurement and management should amount to more than just a capital allocation exercise enforced by regulators, a leading credit rating agency said in…
The events of Sept. 11 brought increased attention and confusion to the practice of managing operational risk.
Case study: NYBOT
The Basel Accord
BASEL - Active dialogue between banks and their supervisors is the key to the continued development of approaches to managing operational risk, global banking regulators said in a much-delayed paper on op risk sound practices issued in December.
This summary has been updated to include the revisions to the Basel II op risk proposals contained in the Working Paper on the Regulatory Treatment of Operational Risk issued in September, 2001 and available on the Bank for International Settlements'…
Bankers generally responded positively to the guidance on sound practices for managing operational risk issued by global banking regulators in December.