The deadline for implementation of the General Data Protection Regulation (GDPR) – 25 May – is fast approaching. While much of the focus may be
2018 marks 2 decades since the Basel Committee on Banking Supervision released its first paper on operational risks. Since then, operational risk has developed drastically,
Operational risk has always been different. Almost from that start, the financial services industry worked with regulators in an unprecedented collaboration. They came together to
Your Risk and Control Self-Assessment (RCSA) should ideally reflect your real Risk Profile, but there are reasons why this may not be the case. Your
The industry has long been challenged with implementing the concept of operational risk stress testing and operational risk scenario analysis. In practice, these two methods
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.”
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