Operational Risk Management: The State of the Discipline (Download)

How does your institution's operational risk management compare to the industry as a whole?

During the first quarter of 2008, RMA conducted its second survey of the current state of the operational risk management discipline in financial services. The survey drew 58 participants from around the world—representing banks, nonbank financial institutions, and government-sponsored enterprises—making this one of the most extensive benchmarking exercises of operational risk practices in recent years.

The results are now in. And they are available to all interested parties in a concise format that includes an executive summary, informative charts, and cogent analysis. After reviewing these results, you will be able to compare your own institution's experience to those of your peers in the following areas:

• Regulatory compliance
• Modeling and capital estimation
• Scenario analysis
• Future challenges

Some Key Findings of the Survey

• Among the institutions with over $1 billion in assets, five plan to be AMA compliant this year and another 10 expect to be in the next five years.
• Some 89% of respondents report that they have moved beyond designing and planning their operational risk frameworks.
• A majority of respondents report their senior management's commitment to operational risk management rose over the last 12 months.

Many other interesting findings came out of this important survey.