A stable, well-functioning financial market for allA stable, well-functioning financial market for allFirms’ management of operational risk and FI’s recommendations (2006:18)
During the autumn of 2005 and spring of 2006 Finansinspektionen carried out a comprehensive review of the operational risk management in fifteen Swedish banks and credit market companies (firms).
This review performed at the request of those firms. It was part of an assessment of how well they were complying with the requirements of the regulations regarding the standardised approach for capital requirements in relation to operational risks. FI has reviewed the policy and methodology documentation of the firms and undertaken on site visits in order to examine how those approaches have been implemented within the organisations.
The reports summarises the current situation with regard to operational risk management in those firms. The purpose of this is to describe current practice related to risk analysis approaches, risk management mechanisms and risk organisation. The report does not cover advanced approaches, i.e. Advanced Measurement Approaches (AMA), to quantify operational risks.
FI's view of the various issues is presented in each of the areas covered. However, it must be emphasised that these views are merely recommendations which are, to some degree, beyond the requirements set out in the regulations related to the standardised approach. There may be solutions other than those proposed that are compatible with the regulations.
