Regulatory Alerts2015-12-03
D10/2015: Changes to AMA Operational Risk Management and Measurement System
The Office of the Registrar of Banks issued Directive 10/2015 to establish requirements for the approval and notification of changes to the Advanced Measurement Approach operational risk systems used for capital calculations. The directive mandates that banks classify system modifications as material changes requiring prior written approval, non-material changes requiring prior notification, or non-material changes subject to post-implementation reporting. It further specifies detailed qualitative and quantitative criteria for assessing materiality and outlines the specific documentation banks must submit to demonstrate compliance with minimum regulatory standards.
Share