Inadequate loss expectation data is a major cause of modelling risk for operational risk strategies, said Carol Alexander, professor of the ISMA Centre at the University of Reading, at the Risk Europe conference last week in London.
The focus on operational risk has been increasing due to deregulation of capital flows and industries, the rapid growth of new companies and increased focus on "dubious accounting" practices, company fraud and Basel II, she said. However, accurate modelling of ope
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