This paper considers some univariate and multivariate operational risk models, in which the loss severities are modeled by some weakly tail dependent and heavy-tailed positive random variables, and ...

Learn about model risk, its causes, management strategies, and real-world examples from financial industry pitfalls. Unlock insights to reduce risk and enhance decision-making.

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 ...

Welcome to the first issue of Volume 19 of The Journal of Operational Risk. In the issue’s first paper, “Composite Tukey-type distributions with application to operational risk management”, Linda ...

06 October 2005 With the Basle II Revised Framework now very much in the forefront of banks' priorities, it is now a prerequisite that banks demonstrate a sound operational risk management and control ...