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0345-3033125 Pak
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3
4
5
IT
Personal
Policy
15
controlled)
- Hacking
H ki and
d other
th cyber
b crime
i
System
S t
change
h
over and
d reconciliation
ili ti
llosses.
Several banks in Pakistan have suffered huge losses due to inadequate planning and control of
the whole system migration. (class discussion )
Incorrect counterparty
Incorrect amount
Delay in clearing interest charges
Incorrect / invalid counterparty claims
claims.
- Security
- Govt undue influence and duress.
- Mandatory leave.
Mitigation
g
Insurance (insure certain type of operations, insure against data loss,
transactional error)
Risk Register
Event No
1
2
3
4
5
6
Risk Register:
keeping a loss register and record high frequency and
high value losses.
Event Code 1
Event Code 2
Date
Cost Centre
Business Line
Loss
IF
EF
SY
IF
EF
EF
12
31
22
11
11
31
20-Jul-11
20
Jul 11
21-Jul-11
22-Jul-11
23-Jul-11
24-Jul-11
25-Jul-11
CC 12
CC13
CC 25
CC 16
CC 30
CC 40
RB
RB
CF
CF
AM
TF
34000
50000
12000
34576
19051
6500
34000
50000
12000
34576
0
0
1
1
3
6
2
13
Risk Matrix:
Distribute risk as per impact and frequency.
Low Impact
p
: Low
Frequency
Low Impact
p
: High
g
Frequency
a loss
Severity Distribution
Density
Density
Frequency Distribution
Dens
sity
25 million
250 million
E
Expected
t d Loss
L
Unexpected
U
d Loss,
L
99.9 %
Flexible, and robust framework that builds on banks internal methodologies and allows for
evolution of practice over time.