RISK SCENARIO LIBRARY
The Risk Scenario Library (Scer) is an initative born in the summer of 2015 to which 12 banks currently adhere. Scer allows banks to exchange anonymously informations on scenarios analysis for IT risk internally conducted. Twice a year scenarios are collected and processed, using a template, by the Scer Technical Secretariat that predisposes an anonymized return flow for every participant. In line with emerging orientations of the European Supervisory Authority, this initiative can be a useful contribution to improve one of the main management tools in the complex current reality (scenario analysis) especially for the identification of new risk scenarios for IT risk arising from the exchange of experiences, studies and sometimes insights between individual participants.
DIPO ANNUAL CONFERENCE 2016
On June 21th and 22th, 2016 the annual DIPO Conference took place at the Palazzo dei Congressi in Rome within the main event of the Italian Banking Association on Basel 3 and Banking Union.
More information and agenda:
http://www.abieventi.it/eventi/2281/unione-bancaria-e-basilea-3-risk-supervision-2016/
DIPO ANNUAL CONFERENCE 2015
On June 23th and 24th, 2015 the sixth DIPO Conference took place at the Palazzo dei Congressi in Rome within the annual event on the themes of Basel 3 and Banking Union.
More information and agenda:
http://www.abieventi.it/eventi/2173/unione-bancaria-e-basilea-3-risk-supervision-2015/
DIPO ANNUAL CONFERENCE 2014
On June 16th and 17th, 2014 the fifth DIPO Conference took place at the Palazzo dei Congressi in Rome within the annual event on the themes of Basel 3.
Some of the topics were:
More information and agenda: http://www.abieventi.it/eventi/2028/basilea-3-risk-supervision-2014/
BANCARIA ARTICLE n. 7-8/2013
Framework for Minimum Capital Requirements for Operational Risk in comparison with Operational Risk Losses: analysis of Dipo data
An analysis of Dipo (Italian Database for Operational Losses) data shows that the current regulatory requirements in terms of capital loss absorption capacity are prudent and sound. As a result, an indiscriminate increase in minimum capital requirement for operational risk does not seem necessary and a more persuasive and internationally coordinated supervisory action could be more effective.
download article here
DIPO ANNUAL CONFERENCE 2013
On June 27th and 28th, 2013, the fourth DIPO Conference took place at the Palazzo dei Congressi in Rome within the annual event on the themes of Basel 3.
The event structure included plenary and parallel sessions which analyzed the most important issues related to the application of the new regulations in greater depth.
Download the Agenda here
You can find more information about the DIPO Conference the Basel 3 event at the following link http://www.abieventi.it/eventi/1834/basilea-3-2013/
DIPO ANNUAL CONFERENCE 2012
On June 26th and 27th, 2012, the third DIPO Conference took place at the Palazzo dei Congressi in Rome within the annual event on the themes of Basel 3
The event structure included plenary and parallel sessions which analyzed the most important issues related to the application of the new regulations in greater depth.
Italian and European regulators, top banking experts and academics, and the leading players in the market featured as speakers.
(click on each link to download the programs and presentations)
DIPO Annual Conference Program
1st day – 26 june 2012
Chair Paolo Giudici Università di Pavia
Aggiornamenti sulle attività in materia di rischi operativi presso il Comitato di Basilea e l’EBA
Marco Moscadelli - Dirigente Supervisione Gruppi Bancari Banca d’Italia
Le perdite di confine con il rischio di credito: individuarle, classificarle, ridurle
Stefano Visinoni - Responsabile Settore Rischi Operativi Area Risk Management Banca Monte dei Paschi di Siena
Scenari di Self Risk Assessment e loro utilizzo nei modelli AMA
Giulia Marini - Responsabile Servizio Rischi operativi e Claudio Andreatta Risk Analyst Servizio Metodologie e Modelli UBI Banca
Consolidare raffinare innovare: Cluster, Mut, Pending losses ed eventi sistemici ell'ultimo anno Dipo
Claudia Pasquini e Claudia Capobianco Segreteria Tecnica DIPO
Tavola Rotonda “Esperienze dai settori non bancari”
Paolo Rubini Risk Manager Telecom Italia
Maurizio Musolino Clinical Risk Manager ASL Roma B
Maurizio Luigi Cumo Professore Università Sapienza di Roma
2nd day – 27 june 2012
Chair Marco Micocci Università di Cagliari e LUISS Guido Carli
Advanced Operational risk modeling in banks and insurance companies
Marco Micocci Università di Cagliari e LUISS Guido Carli
Solvency II: le nuove regole prudenziali sul rischio operativo per le imprese di assicurazione
Lucilla Caterini Grossi Dirigente della Sezione Rapporti Internazionali ISVAP
Un modello di gestione dei rischi operativi nel mondo del credito cooperativo
Claudio Ruffini Presidente Augeos e Marco Carelli Responsabile Servizio Risk Management e Pianificazione Strategica Federazione BCC Piemonte Valle D’Aosta e Liguria
La mitigazione del rischio operativo: l’utilizzo del framework di ORM per la gestione di attribuzione del rischio
Mario Vellella Responsabile Rischi Operativi e Silvia Munzi Bancoposta
Use test: soluzioni per l’applicazione e sfide future
Milena Termo Manager di Accenture Management Consulting Service Line Risk Management Accenture e Veruska Orio Intesa Sanpaolo
Modelli quantitativi e trasferimento dei rischi operativi in una utility
Gianluca Noferi Head of industrial and environmental risk management ENEL
Tavola Rotonda “Sistema di Operational Risk Management: singoli elementi e convalida interna complessiva”
Elisa Dellarosa Banca Carim
Sara Mazza Funzione Risk Management Banca del Piemonte
Alessandro Nardi Responsabile Pillar II and operational risk validation e Vittorio Vecchione Responsabile Pillar II risk validation UniCredit
DIPO 2010 – Second International Conference on Operational Risk Data for Decision Making, 28th/29th september 2010
Once again, the 2010 conference organised by the DIPO Association in collaboration with ABI Eventi proved to be a valid opportunity for networking and sharing business experience. The event focused on the role of loss data internal and external to the bank, needed to create awareness and investment in mitigating operational risk, which represents, on average, the second largest risk in terms of capital allocation for Italian banks.
The event maintained its international flavour with the attendance of interbank loss data collection consortia (Gold, DSGV Consortium, Dakor, Hunor, ORX and DIPO) and this year also provided the opportunity to hold discussions on operational risk management with representatives from non-financial sectors.
Discussions prompted numerous suggestions as to the possible future development of this area. To facilitate the passage from the measurement of capital against operational risk to its proactive and preventive management, further exploration of causal event analysis was proposed as well as the more direct involvement of Business Units in the various stages of the Operational Risk Management process. In this regard, it was emphasised how Operational Risk Management (ORM) reporting must satisfy not only the requirements of top management but also those of the operating and business units, who play an important role in mitigation.
With regard to the consortia, as the initial objective to improve the historic series of quantitative loss data has now been achieved, the same are now concentrating more on the qualitative flows that can contribute to scenario building. Furthermore, all parties appear to agree on organising regular workshops also at inter-consortium level to periodically identify the potential threats to intermediaries in a specific time period.
Lastly, the representatives of several consortia proposed an exchange of data at aggregate level.
A fair part of the conference was dedicated to updates from the perspective of the Supervisory Authorities, represented respectively by Mitsutoschi Adachi as Chairman of the Basel Committee Working Group SIGOR (BCBS), and by Marco Moscadelli in the dual role as representative of the Bank of Italy and Chair of the CEBS Group on Operational Risk.
Both underlined the consolidated experience of the consortia that are developing also as work platforms for activities not strictly linked to the collection of events for loss profile modelling. They are exploring the exchange of plausible but extreme scenarios and the implementation of guidelines for the performance of operational stress tests.
In recent years we have witnessed significant development in operational risk management also by banks that use the Basic and Standard method to calculate capital requirements. In order to take these changes into account, SIGOR is working on an updated version of the document entitled “Sound Practices for the Management and Supervision of Operational Risk” published in 2003 by the Basel Committee. Now attention has turned to specific topics such as operational risk in outsourcing and the definition of Operational Risk Appetite.
At European level, the representative of the Bank of Italy illustrated efforts being made by the CEBS and several proposals that are under discussion, such as for example, more binding indications as regards the reference date on which to focus the calculation data set, given that, according to the supervisory authorities, the date of occurrence and the settlement date are not appropriate.
The speeches made by representatives of other sectors (Insurance, Air Traffic, Health and Infrastructure) were much appreciated. In a dedicated session, the same illustrated both the aspects they had in common with the banking industry and those that they did not. With regard to the latter, for example, in some industries, the “advance” definition of an operational event is in itself an infringement of security measures. Of the aspects that they have in common are the investment in internal and external data and its modelling, the importance of scenarios and the central role of human resources in mitigation.
A number of academics and researchers presented the results of analyses conducted separately on data of the DIPO and ORX consortia on which they had been authorised to work, which aroused considerable interest. Bank representatives made their contribution by illustrating innovative approaches to the use of external data to quantify operational risk (IntesaSanpaolo, BNP Paribas-BNL), on the potential of an operational risk-based analysis of investment services conducted in synergy between the specific Business Unit and the ORM (Banca Monte dei Paschi) and on the use of quantitative data to build forward-looking scenarios as a real support to management decision-making (UBI Banca and Poste Italiane).
A new, much appreciated feature this year was the organisation of the first DIPO Award entitled “Decisions where ORM made the difference”, which saw the participation of ORM teams from banks and other financial institutions for whom in the three year period 2008-2010, ORM successfully influenced an important corporate decision. The three finalists (Banca Etruria, Erste Bank Hungary and Norddeutsche Landesbank) presented their cases in a special session of the conference.
The first edition of the Award was won by the Norddeutsche Landesbank team.
For latest updates and further information visit the following website:
http://www.abieventi.it/eventi/1117/dipo-2010/
Participants can log in to the abieventi website and have complete access to all documents, non participants will have only a limited access.
DIPO: First International Conference on External Data for Operational Risk
On 24 and 25 September 2009, various interbank consortia for operational risk loss data collection, active in different domestic and international contexts, met for the first time in Rome upon an invitation by the DIPO Association (Italian Database of Operational Losses).
The Convention saw the participation of the major consortia active within the banking field. Of those established within the context of the national banking association of reference, we would like to mention the ABA Operational Loss Data consortium in the US, Gold in the United Kingdom and HungOr in Hungary. The two German consortia for this industry, which were established within the context of the Sparkassen/Giroverband (ORD) and of public banks such as Landesbanken, (DaKor), were also present. Furthermore, the ORX consortium, which counts amongst its members some of the major international players, was also represented at the conference by its Chairman.
Based on the presentations made by each of them, a preliminary table was outlined, which summarises the initiatives prepared by such entities.
During the two-day event, also Regulators’ representatives urged the continuance and development of consortia activities that could include:
assuming an important role in the identification and harmonisation of criteria for the recording of certain specific categories of events
expanding the scope of data collection so as to include the data used for the scenarios and provide guidelines for their realisation
acting as catalyst for the dialogue between the insurance and banking industries as regards key issues, for the purposes of more effective programmes for the insurance transfer of the Operational Risk.
Also worth noting were the reports made by individual DIPO members who, as "guests", highlighted the role of the consortia within the context of enhancing internal loss data collection, the stability problems of the OpVar estimates in the event of fluctuations of the extreme loss data given the regulatory level of confidence, the search for an efficient frontier of the insurance policies of an AMA group and the cultural shift from control to actual management of Operational Risk.
download the DIPO Secretary Manager, Claudia Pasquini, presentation
For latest updates and further information visit the following website: www.abieventi.it
ABIServizi S.p.A.
DIPO - ITALIAN DATABASE OF OPERATIONAL LOSSES
Piazza del Gesù 49 - 00186 Roma - P.IVA 00988761003
www.dipo-operationalrisk.it - dipo@abi.it