Operational risk capital
MAS ups DBS's op risk capital number
DBS censured by Singapore regulator for IT outage, required to hold more op risk capital
OpRisk Europe: The slow drive for change
Speakers at OpRisk Europe agreed that, while change in op risk legislation and capital calculation is necessary, it needs to be undertaken slowly and carefully
Consortiums look beyond historical loss data
The financial crisis has shown historical loss data is not enough to help model and predict future op risk events, so some loss data consortiums are looking to include features such as scenario analysis results in their databases
Cebs updates op risk compendium; internal governance guide coming
Updated op risk compendium contains guidelines on op risk mitigation; internal governance guidelines on the way
Review imposes op risk capital charge on non-bank lenders
Mortgage lenders must hold capital for operational risk
Aussie insurers face new risk-based capital requirements
New explicit requirement for operational risk capital proposed for life and general insurance firms in Australia.
French banks under pressure to hold more op risk capital
Rogue traders and a worsening financial crisis are leading French regulators to put pressure on banks to hold more capital for op risk
Loss leaders
Operational risk is potentially the biggest risk faced by insurers – and also one of the most difficult to model. However, as a number of loss data aggregation initiatives globally either emerge or mature, insurers are better placed to quantify their op…
Learning to Love Basel II
Introducing a major insurance element to operational risk management processes is a passion for National Australia Bank’s Ross Love.
South Africa opts for Solvency II approach
Solvency II is not just an issue for European insurers. Faced with the increasingly global nature of the financial sector, South Africa’s financial regulator is bringing in its own version of the regulation. But the schedule to implementation is tight…
Understanding the Operational Risk Consortium’s scenario approach
The UK’s Operational Risk Consortium (Oric) recently published a report on the use of scenario analysis of operational risk in insurers. Mariano Selvaggi describes the issues Oric took into account when making its analysis and why establishing a…
Sound scenarios
Mariano Selvaggi describes the issues the Operational Risk Consortium took into account when preparing its report on the use of scenario analysis of operational risk in insurance, and how a sound scenarios framework can benefit firms
Where's your motivation?
Discussion about incentives to promote good risk management is increasingly gaining relevance for Basel II advanced measurement approach applicants, as well as for banks adopting the standardised approach
Passage to India
It’s a long way from Basel to Mumbai, and it will be a while before India’s banks have fully implemented the Basel II capital requirements framework. OR&R looks at how far they have come, and the obstacles they must overcome on the path ahead
Making Solvency II stick
Dubbed 'Basel for insurers', operational risk management under the Solvency II regime is still mystifying most in the insurance world. This case study highlights the basic issues to consider.
Road to transition
For a moment it looked as if the post-crisis drive for reform was losing momentum. But the Basel Committee on Banking Supervision has established working groups to keep the industry focused, and to propose ways to keep moving forward
The case for scenarios in op risk loss databases
Scenario analysis is gaining in popularity following the crisis and loss data consortia are quick to cater for this renewed interest
Oric membership increases
Three new members join the ABI operational Risk Consortium loss database
Oric sets benchmark operational risk scenarios
Op risk loss database consortium for insurers publishes scenario benchmarks
Divine illumination
Last year's OR&C top 100 banks study identified 'A new dawn for disclosure'. Things have hotted up since then, and now banks face not only a level of exposure and transparency never seen before, but also stricter regulation on almost every front…
It's all relative
The Operational Risk Consortium recently carried out an analysis of its growing database of operational losses in the insurance business. It found evidence of the need for scaling, which suggests no firm's losses should be viewed in isolation. Mariano…