Managing operational risk is challenging. Although operational risk management as an individual risk discipline was only formally introduced a little over a decade ago with the introduction of Basel II, firms are still struggling to meet even the most basic requirements – risk assessments, collecting meaningful and truthful operational risk loss data, which they are also struggling to classify accurately.
The myriad of regulatory change being implemented following the global financial crisis is also challenging firms’ resources and ability to conduct business as usual. The Risk Universe helps risk managers from every industry to better manage their operational risk and helps guide them through all of the regulatory changes.
The Risk Universe is a digital information resource that seeks to shed some much needed illumination onto the world of operational risk management.