Data quality
- Maintain high-quality operational risk data and systems documentation
Retained EU Law
2018
United Kingdom
Commission Delegated Regulation (EU) 2018/959of 14 March 2018supplementing Regulation (EU) No 575/2013 of the European Parliament and of the Council with regard to regulatory technical standards of the specification of the assessment methodology under which competent authorities permit institutions to use Advanced Measurement Approaches for operational risk(Text with EEA relevance)
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What's here
1 compliance obligation
What this Act requires
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Browse 45 other sections — procedural / definitional / commencement
Assessment of Advanced Measurement Approaches
Definitions
Operational risk events related to legal risk
Operational risk events related to model risk
Operational risk events related to financial transactions including those related to market risk
Quality and auditability of documentation
Operational risk management process
Independent operational risk management function
Senior management involvement
Reporting
Use of the AMA
Continuous integration of the AMA
AMA used to support the operational risk management of the institution
AMA used to enhance the operational risk organization and control of the institution
Comparison of the AMA with the less sophisticated approaches
Audit and internal validation functioning
Audit and internal validation governance
Supervisory assessment of IT infrastructure
General principles
Internal data features
Scope of operational risk loss
Recorded loss amount of the operational risk items
Operational risk losses that are related to credit risk
External data
Scenario analysis
Business Environment and Internal Control Factors
General assessment
Building the calculation data set
Granularity
Identification of the loss distributions
Determination of aggregated loss distributions and risk measures
Expected losses
Correlation
Consistency of the operational risk measurement system
General principles
Authorisation equivalence of the insurance provider
Provision of the insurance via a third party
Multiple counting of risk mitigation techniques
Insurance risk mapping process
Use of a sophisticated risk mitigation calculation
Alignment of the risk mitigation calculation with the operational risk profile
Capture of all the relevant elements
Other risk transfer mechanisms
Transitional provision
Entry into force
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