PRA chief warns banking world over AI vulnerabilities and increased operational strain The Bank of England (BoE)’s top ...

Operational risk scenario analysis has existed for a long time. Why is it under more scrutiny now? Patrick Naim, Elseware: I wouldn’t describe it as scrutiny so much as more ambitious objectives for ...

Frontier AI could find and exploit hidden software flaws at a speed that banks cannot match. That exposes a gap in ...

No single standard addresses every security risk. The core challenge for AI data center operators is the lack of integration ...

AI risk must be integrated into established operational risk thinking and quantitative cyberrisk governance approaches.

Regulators around the world differ in their approach to model risk management (MRM) regulation – including their definitions of what a model is. While some are more prescriptive, others such as the UK ...

The gap between AI and traditional risk modelling is substantial. Traditional models often fall short when dealing with complex, non-linear relationships. In contrast, AI models thrive in detecting ...

Atkar: Not necessarily on operational risk. For instance, the recent Basel paper on the treatment of insurance to mitigate operational risks proposes arguably a more complicated approach than ...

Financial institutions are in the business of risk management and reallocation, and they have developed sophisticated risk management systems to carry out these tasks. The basic components of a risk ...