IOR News

IOR publishes Key Risk Indicators Guidance

Last Updated on Friday, 18 February 2011 18:24 Written by Richard Baker Friday, 19 November 2010 00:00

The Institute of Operational Risk has published a Key Risk Indicators Sound Practice Guidance paper to address the lack of written support on the effective application of this important tool.

Covering the whole of the Key Risk Indicators (KRI) process from their selection to their use in risk reporting and assessments, this is the fourth in the Institute’s series of sound practice papers designed to provide practical guidance on the implementation of techniques necessary to support a robust operational risk management framework.

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IOR Lecture Video

Last Updated on Friday, 04 March 2011 12:14 Saturday, 23 October 2010 22:56

The inaugural Annual Lecture was held on October 14th 2010 at the Chicago Booth Business School in the City of London.  In this lecture, Dr Philippa Malmgren, a former economic advisor to the White House and member of the National Economic Council, shows how Operational Risk Management is not merely a process driven discipline, but a subject of quite breath-taking magnitude when looked at objectively.  The fall-out from the collapse of the banks and subsequent global recession, the impact of mineral shortages and food shortages, the increase in food prices, the ability to freely move goods around the world, the potential for civil unrest and the impact of political pressures on financial services regulation are all issues covered in this Lecture and how they might affect the process of managing operational risks within organisations.

The Institute is extremely grateful to Dr Malmgren for delivering the inaugural Annual Lecture and to Arthur J Gallagher International for their generous support and sponsorship without which, the event would have not taken place.

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This is the first tantalising part of the lecture, the full 8 part lecture of Politics, Policy and Geopolitics as Operational Risk has been published in the members area. IOR Members Only Videos

IOR publishes third Sound Practice Guidance Paper

Last Updated on Wednesday, 15 September 2010 13:05 Written by Richard Baker Saturday, 11 September 2010 15:32

Governance essential for good operational risk management

The importance of governance as the cornerstone to good risk management is highlighted in the latest Operational Risk Sound Practice Guidance Paper published by the Institute of Operational Risk.

‘Operational Risk Governance’ is the third in a new series of papers from the Institute that are designed to provide practical guidance on the implementation of the techniques necessary to support a robust operational risk management framework.

It emphasises that operational risk is not just a set of processes, to be effective and capable of playing a part in business management it needs clear and active leadership. Without good governance, the paper warns, operational risk management processes will operate in a vacuum. Another valuable contribution this paper makes is to stress that the roles and responsibilities of people throughout the organisation should reflect the part they play in limiting risk exposures and losses. The paper outlines the importance of a governance structure to co-ordinate risk management across the organisation.

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Edward Sankey elected new IOR Chairman

Last Updated on Monday, 24 May 2010 02:23 Written by Michael Faber Monday, 26 April 2010 15:21

Edward Sankey is the new chairman of the Institute of Operational Risk (IOR)– the professional body supporting practitioners in the discipline of managing operational risk following the Institute’s Annual General Meeting held on April 15.

An independent consultant in corporate and operational risk, Edward Sankey is a Fellow of the Institute, has been a member of its Council since 2005 and as a member of the executive committee has been leading the IOR’s acclaimed events programme.

He takes over the chairmanship from Philip Martin who has completed his term of office and stepped down from the Council.

Read more: Edward Sankey elected new IOR Chairman