Operational risk and control assessments are often the first process that a firm uses to conduct operational risk management. Frequently the assessment is carried out
Good risk governance is required by the FSA through its Principles for Business (Principle 3). The European Union, through its draft of the Capital Requirements
Op risk professionals must revisit their attitude to qualitative data. John Kiddy, CEO of RiskLogix, says we must stop thinking of it as ‘just’ qualitative
The standard model in Solvency II is totally inadequate for operational risk. Many in the industry know this. But nothing is likely to change before
“That men do not learn very much from the lessons of history is the most important of all the lessons that history has to teach.”
Governance, risk and compliance as a concept now permeates the risk management airwaves in the same way that enterprise risk management did three years ago.
The unprecedented and catastrophic failure in risk management by industry participants, regulators and governments over the past 18 months has put the spotlight on the
Six Sigma is in essence a structured methodology to systematically improve processes by eliminating defects. The ideas and practices came out of manufacturing in the
Regulators first started talking about “other risks” in the 1990s after events such as Barings, BCCI and Sumitomo highlighted the fact that financial securities institutions