Operational Risk [9]

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Bullet points include: Most (all?) firms have insufficient own data to be able to identify likelihood of every different type of operational risk. Hence, value of other firms’ experience, if relevant and accessible. May be industry-wide, e.g. regulator driven. Or privately funded. But important to note that firms’ operational risk exposures have significant idiosyncratic elements. E.g. Culture, decision-making processes, reputational risks etc.

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