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• W156793563 abstract "Operational risk is as old as the banking industry itself and yet the industry has only recently arrived at a definition of what it is. Still the controversy about the definition is not over. Ever since the Bank of International Settlements (BIS) adopted a new set of regulatory capital standards, organizations have begun identifying and evaluating methodologies to measure operational risk. The guidelines of the BIS are quite lucid about what constitutes operational risk. It is proved without doubt that the operational risk management improves the quality and stability of earnings, thereby enhancing the competitive position of the bank and facilitating its long term survival. The collapse of Bearings and the derivatives disasters were one among several factors that led to the revision of Basel-I and giving the due importance to operational risk measurement and management. But the problem lies in the standard measure of operational risk. The BIS major emphasis on regulatory capital has created adequate interest and motivation in the measurement of the Operational risk. While capital is important, it is merely one defense against risk and is unlikely to be the preferred solution. An increase in capital will not in itself reduce risk; only management action can achieve that. The control of operational risk is fundamentally concerned with good management, which involves a tenacious process of vigilance and continuous improvement. To quote Mr. Jacques Longerstaey, managing director of Putnam and GARP’s Risk Manager of the year for 2005 “One lesson that all of us have learned in the financial services industry is that problems .... have been management problems –not risk measurement or identification problems. In a number of cases, we have seen clear evidence of shortcomings in processes being a result of lack of management enforcement rather than of a lack of identification or measurement.” Operational risk management can be said to move through three conceptual stages of development. The first stage is the sound management practices; the second stage is concerned with data collection and analysis; and the third stage involves modeling and predicting the future. The most important and difficult task in the quantification of operational risk is to find a reasonable model for the business activity. There is a growing dissatisfaction as far as the Basic Indicator approach and the Standardized approach are used to calculate the regulatory capital for Operational risk. The important step in the measurement of operational risk is the collection of internal loss data for operational risk, but it still reflects what has happened in past. Data quality and data frequency are some other important issues. The reservations of US central bank on the implementation of the Basel 2 and also because of the QIS 4 the Basel 2 implementation seems difficult on time. The present paper tries to evaluate the existing quantification models and would like to recommend the model for the UAE banks that satisfies the supervisors and BIS." @default.
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• W156793563 date "2006-01-01" @default.
• W156793563 modified "2023-09-27" @default.
• W156793563 title "Operational risk: measurement issues, Basel II and UAE banks" @default.
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