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Understand qualitative aspects of operational risk first, says DTCC

New York -- The qualitative aspects of operational risk must be understood before focusing on the quantitative measurements of operational risk capital, according to Eileen Robbins, vice-president for operational risk management at the Depository Trust and Clearing Corporation (DTCC).

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It is necessary to direct initial efforts to the qualitative aspects of operational risk because that is how a firm can develop and maintain risk sensitivity in people’s mind-sets, Robbins said in January at an operational risk conference organised by the Securities Operations Forum in New York.

Speaking later in an interview, Robbins said that focusing initially on operational risk identification was consistent with the new Basel Accord.

“We think it’s much more important to identify possible

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