David Babbel and Kabir Dutta show that while scenario analysis is an important tool for risk measurement, its use in the measurement of operational risk capital has been quite arbitrary and often inaccurate. They propose a method for the measurement of operational risk exposure of an institution using scenario analysis and internal loss data but based on the Change of Measure approach used for asset pricing in financial economics.
Jonathan Rajewski joins CRA's Forensic Services Practice
CRA is pleased to announce that Jonathan Rajewski has joined the company as a Vice President in the Forensic Services Practice. Mr. Rajewski will be based in...