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Operational Risk and Regulatory Compliance in US and European Financial Services
Datamonitor, Aug 2004, Pages: 73
Operational risk is now discussed in the context of regulation like Basel II & SOX, but it is not a new discipline. What is new is the formalization of methods to identify, measure & mitigate risks. The sector is expected to move beyond first phase OpRisk activities. What are the next phase developments? How should banks design next generation architectures? Which areas can vendors add value in?
Scope of this report:
- Covers operational risk management within retail & corporate banking, financial markets and asset management sectors
- Insights formulated from discussions with more than 15 executives within Tier-1 US & European institutions & leading OpRisk solution providers
- Includes OpRisk related global regulations such as Basel II, Sarbanes Oxley, the US Patriot Act and other money laundering legislations.
Report Highlights
- From 2002-2006, the combined OpRisk spend in US and Europe is expected to grow at 6.7% CAGR, peaking at around $950m from 2005 onwards.
- Overall OpRisk spending related to measurement & analytics is small in relative terms, but real opportunities remain in operational improvement activities, when institutions move beyond putting in place the infrastructure to assess & measure OpRisk.
- Financial institutions need to adopt open practices of consolidating intellectual capital & disseminating knowledge related to OpRisk. The ability to integrate, extract and use risk-related insights from internal & external operating environments will be a key success factor in building risk-aware cultures within their organizations.
Reasons to Purchase:
1. Gain key insights into activity areas and progress within different financial institutions, and understand overlap between SOX and Basel II
2. Understand strategic implications and next phase opportunities based on evolving market, competitive & financial institution end-user dynamics
3. For financial institutions, obtain key action points to plan and streamline operational risk & compliance initiatives
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