Tag Archive for strachnyi

GARP Conference Keynote Address: Mark Flannery

During Global Association of Risk Processionals (GARP) 16th Annual Risk Management Conference in New York, Mark Flannery, Director, Division of Economic and Risk Analysis, U.S. Securities and Exchange Commission delivered a keynote address. Below are a few highlights from his…

Costs of Operational Risk Mismanagement

Causes of Operational Risk The Basel Committee on Banking Supervision (BCBS) defines operational risk “as the risk of loss resulting from inadequate or failed internal processes, people and systems or from external events. This definition includes legal risk, but excludes…

Operational Risk: Key Risk Indicators (KRIs)

Key Risk Indicators Defined Key Risk Indicators (KRIs) are an important tool within risk management and are used to enhance the monitoring and mitigation of risks and facilitate risk reporting. Operational risk is defined as the risk of loss resulting…