We're hosting a roundtable on the for the participants of our Operational Risk Taxonomy project on Thursday 17 May 2018 in New York.
The event will give participants the opportunity to:
- Review the draft report, which will explore the emerging industry direction and aid any potential or planned developments of their risk taxonomies
- Explore the future of enhanced risk information sharing
About the Operational Risk Taxonomy project
Risk taxonomies sit at the centre of the operational risk framework. From risk identification and assessment to reporting and governance, having a clear, consistent taxonomy that resonates with the business is critical to maintaining their engagement with the operational risk framework as a whole.
The Basel event types were developed over 15 years ago to support a regulatory framework that is undergoing significant change. Across the industry we're seeing efforts to align risk taxonomies to the reflect the language and priorities of senior management and to enable effective day-to-day risk management.
Many of our members want a resource which they can use to benchmark their internal taxonomy against. This project will help participants compare their internal taxonomies with peers, identifying areas of standardisation and exploring areas of difference.