Which issues rank high on the agenda of experienced operational risk managers across Europe, the United States and the Middle East? How will Basel II impact operational risk management? Are European banks ahead of their more deliberate US counterparts with respect to compliance? Is operational risk management lagging behind measurement? And ... click here for more details.

Under Basel II, banks will have to estimate risk of loss on all their assets — including those asset classes that have rarely defaulted. But the low number of past defaults has not yielded enough loss data to support quantitative analysis. So how can a bank estimate loss-given default, particularly ... click here for more details.

From her time as a senior risk manager at Daiwa Europe Bank to her stint as a hedge fund executive at GNI Fund Management to her newest role as a partner at the risk advisory services firm JTP Partners LLP, Gloria Pilz has forged a well-rounded perspective of the financial ... click here for more details.

Banks pursuing Basel II compliance will have the opportunity to use a double default framework for estimating credit exposures. How is this approach different from existing techniques? How does is treat defaults? And does it offer banks better credit risk protection? Vidyasagar Pulavarti investigates.

Robert Sales discusses contents of Issue 28

Bill Martin and Rich Apostolik take a look back at the key role the association has played in the transformation of the risk management field.

1. Fritz Snags Global Operational Risk Job at Deutsche Bank 2. Swiss Insurance Association Tabs Peter Kandl for its Top Risk Post 3. Brian Ranson Joins Credit Strategies Group at Moody’s KMV

The International Accounting Standards Board has developed a new standard that will require firms to disclose more data about their credit quality and credit risk exposures. But IFRS 7, as the standard is known, also lacks clarity. Danish Siddiqui weighs the pros and cons of the IASB’s latest reporting solution.

What are the most troublesome obstacles hedge fund investors must hurdle after they allocate capital to a specific fund? Dr. Lars Jaeger identifies the risks investors must contend with in the post-investment hedge fund phase and examines potential solutions, including managed accounts.

Can operational risk managers learn anything from the study of events in nature, such as the behavior of a sand pile? Charles Tapia describes the attributes of the open systems in which operational risk officers work and dissects the elements of systems theory that are shared by forces of nature ... click here for more details.