The Operational Risk Working Party (ORWP) is a Cross Practice working party and acts as the conduit for Operational Risk (OR) research across all practice areas. The Operational Risk Working Party aims to assist actuaries and others in the modelling and management of operational risk. The Working Party has already produced papers on inputs to operational risk models and on operational risk dependencies. It is currently working on a paper on how to validate operational risk models.

The Operational Risk Working Party aims to assist actuaries and others in the modelling and management of operational risk. One of the key challenges in modelling operational risk is the modelling of dependencies between operational risks, and between operational and non-operational risks such as market, credit and insurance risk. 

Outputs:

Other Institute and Faculty of Actuaries (IFoA) papers and resources

Other operational risk resources

The following may be of interest to those involved in Operational Risk modelling and management:

Chair: Patrick Kelliher
Membership: 9
Established: 2014

Related documents

Contact Details

If you have ideas for cross practice research, or want more information about cross practice working parties, please refer to our Guidance for Research Working Parties or contact the Communities Team.

professional.communities@actuaries.org.uk

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