The Basel Committe has released the paper "Sound Practices for the Management and Supervision of Operational Risk." The updated version highlights the evolution of operational risk management since 2003 and is based on best industry practice and supervisory experience. The principles outlined in the report are discussed within the context of three overarching themes: governance, risk management and disclosure.
The Committee also issued for consultation a second paper tittled "Operational Risk -Supervisory Guidelines for the Advanced Measurement Approaches." The regulatory capital adequacy framework envisages that, over time, the operational risk discipline will continue to mature and converge towards a narrower band of effective risk management and measurement practices. The guidance seeks to better achieve this by setting out supervisory guidelines relating to governance, data and modelling.
Comments on the reports should be submitted by 25 February 2011.
© BIS - Bank for International Settlements
Documents associated with this article
|
|
soundop.pdf
|
|
oprisk.pdf
|
Key
Hover over the blue highlighted
text to view the acronym meaning
Hover
over these icons for more information
Comments:
No Comments for this Article