In the aftermath of September 11’s terrorist atrocities, it will surprise few people to learn that operational risk has been a hot topic of debate among financial institutions and regulators. Unlike risks of borrowers defaulting on debt or markets collapsing, operational risk management deals with internal system failures (such as a rogue trader) or external events (such as terrorist attacks). A conference organized by Wharton’s Financial Institutions Center and Oliver, Wyman & Co. recently explored current controversies in assessing and managing operational risk.
Content: Article
Source: Knowledge@Wharton
Subjects: Finance, Industry Specific
Industry: Finance / Banking
Source: Knowledge@Wharton
Subjects: Finance, Industry Specific
Industry: Finance / Banking
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Hello,
This is an interesting article, but there is nothing new under the sun in this regard.
This empirical rule has been already described by Bruce D. Henderson from BCG in 1976.
It was called at the time the Rule of Three and Four…
Truly Yours
Youcef DRIDI
MBA – ENPC MIB Paris – France