9

Modelling

About operational risk modelling

Previous approaches to operational risk modelling

Towards an inclusive approach

Distributions and correlations

Practical problems in combining internal and external data

Confidence levels and ratings

Obtaining business benefits from capital modelling

Modelling qualitative data

Obtaining business benefits from qualitative modelling

Summary

ABOUT OPERATIONAL RISK MODELLING

Much has been written about the mathematical modelling of operational risk. Unfortunately, almost all of the writing has been very mathematical and with very little focus on the business benefits. It is almost as though the modelling of operational risk should be sufficient in itself as an intellectual exercise. Modelling appears ...

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