Operational Risk (FRM Part 1 2023 - Book 4 - Chapter 7)
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- Опубліковано 4 лип 2024
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After completing this reading, you should be able to:
- Compare three approaches for calculating regulatory capital.
- Describe the Basel Committee’s seven categories of operational risk.
- Derive a loss distribution from the loss frequency distribution and loss severity distribution using Monte Carlo simulations.
- Describe the common data issues that can introduce inaccuracies and biases in the estimation of loss frequency and severity distributions.
- Describe how to use scenario analysis in instances when data is scarce.
- Describe how to identify causal relationships and how to use Risk and Control Self-Assessment (RCSA) and Key Risk Indicators (KRIs) to measure and manage operational risks.
- Describe the allocation of operational risk capital to business units.
- Explain how to use the power law to measure operational risk.
- Explain the risks of moral hazard and adverse selection when using insurance to mitigate operational risks.
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Thank you for this video.
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27:02
is that an error in the LHS of the p(x>v) equation?
it says "0.5" whereas it should be "0.05" (meaning 5 percent), right?
Yes, it seems to be a typo. It should be 0.05 ideally as stated by you.
Can i alone conduct ,awareness raising part of stakeholders. Without bank account. ?
Very well explained.. Thanks
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