Modelling approaches and risk mitigation
On Wednesday 1 May, Oliver Wyman (OW) gave a teaching on the current industry approaches to operational risk modelling in light of ORIC International’s recent capital benchmarking survey, as well as a look into the various risk mitigation methodologies currently employed by (re)insurance and investment management firms.
Sean McGuire of Oliver Wyman described some of the key design decisions that need to be made during the modelling process including input preparation, frequency and severity distribution fitting, convolution and loss deductions.
The event was very well attended with more than 30 representatives from the ORIC International membership attending in person. Slides from the event are available on request and members should contact Shahine Sivakumar for more information.