Improving Operational Risk Management with External Loss Data*

Improving Operational Risk Management with External Loss Data*

*Originally Broadcast by Operational Risk & Regulation

Available On Demand
Duration 60min
Günther Helbok
Head of Operational Risk and Reputational Risk, Credit Risk Validation and Basel Compliance
UniCredit Bank Austria
Günther Helbok
Günther Helbok joined Bank Austria in 1999 and is responsible for operational risk and reputational risk, as well as validation of credit risk models at UniCredit Bank Austria. Within his 14 years of experience in operational risk and Pillar 2, he has managed the operational risk system selection, development and rollout at Bank Austria and led the Austria and central & eastern European countries through AMA validation by the respective regulators. Within ORX Günther works on the definition of operational risk event definition and the credit-related boundary. Prior to his engagement he worked at the Manchester School of Accounting and Finance where he holds a PhD.
Jonathan Howitt
Jonathan Howitt
Jonathan Howitt has extensive experience in risk management on the buy and sell sides. Most recently he held group risk and chief risk officer roles at two major UK-listed investment firms with businesses in alternative fund management, brokerage, investment banking and private wealth management. Jonathan has also held senior finance, chief operational officer and risk roles in New York, Tokyo and London with Citibank, UBS and Dresdner Kleinwort, and, during the early 2000s, was directly involved in industry discussions with regulators for Basel II. He currently chairs PRMIA’s Education Committee and has been a member of PRMIA's London Chapter Steering Committee since 2004.
Laura Polak
Head, Risk Analytics, Consulting Engineering and Content
Laura Polak
Laura Polak has more than 20 years of experience in the financial services and energy sectors. She currently manages the risk content business and global consulting engineering for GRC. The risk content business oversees the IBM Algo FIRST Risk Case Studies Database. She has worked with the FIRST business for more than eight years and, prior to that, spent four years working at TD Bank in its corporate operational sisk group where she supported the business in its software selection and implementation process for operational risk and Sarbanes-Oxley. Laura‘s earlier experience includes heading up product and development teams, large-scale implementations and architecture/design for new products both at TD Bank and Union Energy.

The financial community has never been under more pressure to understand its overall exposure to risk. One important strategy for managing risk is to learn not only from the internal data elements captured, but to look also at the failings of others (external data).

In this webinar, a panel of operational risk experts discuss how external data elements can assist risk managers and professionals in their operational risk programmes, particularly informing scenarios and assessments and also providing tail events for models. When integrated with an operational risk framework, these external data elements help to round out the ‘view of operational risk’, and the result is that organisations are better equipped to understand, identify and manage their operational risk.

The webinar will cover:

  • The kinds of external data used to inform operational risk programmes
  • The characteristics important in the data
  • Filtering and selection processes when deciding what elements to use or include
  • Frequency of refreshing or reviewing data inputs and updating models and scenarios
  • What can and cannot be automated

Register for this webinar to understand how external data elements can assist risk managers and professionals in their operational risk programs.

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