Implementing a Risk Management Framework in Developing Markets
Joseph Chisasa,Jacobus Young +1 more
- 24 May 2013
- Vol. 12, Iss: 6, pp 603-612
TL;DR: In this paper, the authors assess the status of operational risk management of banks in developing markets in the context of Basel II and determine the extent to which risk management staff is prepared to implement a risk management framework in linewith international best practice.
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Abstract: This article assesses the status ofoperational risk management of banks in developing markets in the context ofBasel II. The aim of the article is to determine the extent to which riskmanagement staff is prepared to implement a risk management framework in linewith international best practice. An African commercial bank was examined usingsurvey data collected in July 2010 from 22 employees. The data were analysedusing descriptive statistics. Results obtained indicate knowledge gaps incollecting risk data and the application of risk models as limitations to theimplementation of the framework. The results support the commitment of moretime and financial resources in up-skilling staff if banks in developing marketsare to comply with regulatory requirements as recommended by the Basel Accord.
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Paul Embrechts,Hansjörg Furrer,Roger Kaufmann +2 more
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TL;DR: In this article, it is shown that traditional modeling approaches, including extreme value theory, reach their limits as the structure of operational loss data is barely in line with the modeling assumptions.
Operational risk management in financial institutions: Process assessment in concordance with Basel II
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The Present and Future of Financial Risk Management
Carol Alexander,Carol Alexander +1 more
TL;DR: In this article, the authors argue that consideration of the model risk arising from crude aggregation rules and inadequate data could lead to a new class of reduced form Bayesian risk assessment models, which should be set within a common factor framework that allows proper risk aggregation methods to be developed.
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It's all in the data – consistent operational risk measurement and regulation
TL;DR: In this article, the authors investigate the regulatory implications of varying characteristics of operational risk and different methods to identify operational risk exposure and reveal that effective operational risk measurement hinges on how the reporting of the operational risk losses and the model sensitivity of quantitative methods affect the generation of consistent risk estimates.
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•Posted Content
Operational risk management in indian banks in the context of basel ii: a survey of the state of preparedness and challenges in developing the framework
TL;DR: In this paper, the status of operational risk management in the Indian banking system in the context of Basel II is assessed in detail, and the expected coverage of banking assets and the approach adopted for operational risk capital computation is compared broadly with the position of the banking systems in Asia, Africa and the Middle East.
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