Chartis: Thomson Reuters Operational Risk Vendor Highlights 2013

Operational risk is “the risk of loss resulting from inadequate or failed internal processes, people and systems, or from external events.” It rose to prominence in the mid-90s following the Barings scandal, and has become one of the primary focal points of financial institutions’ risk management programs in the years following the financial crisis. Basel 2 included it in capital requirements in 2004, although it was not until 2008 that implementation became widespread. It has since been