This may interest you…

We are constituting our founding Risk Accounting Standards Board (RASB) that will also function as our non-profit’s board of directors. If you are interested in serving in this capacity please write to me in confidence at peter.hughes@rasb.org or call me on +44 7766...

Message from the Chairman

It’s almost 20 years ago that I was asked by the Chase Manhattan Bank’s COO, Rick Mangogna, to form and lead a team with a mission to design and implement a risk reporting framework for global operations. We soon understood that achieving our mission depended on the...

OpRisk Capital Chess: Banks Lose First Match – GARP Article

OpRisk Capital Chess: Banks Lose First Match GARP.org article by Peter Hughes When the Basel Committee on Banking Supervision first mooted the setting aside of protective capital for operational risks in the late 1990s, large international banks lobbied for their...

Latest from the Chairman

The RASB continues to collaborate with academia, practitioners, and regulators in researching and developing next-generation OpRisk management solutions. Following our successful initial tests of the RU – the new additive metric that expresses all forms of OpRisk...

Where Next with Operational Risk? – GARP.org article by Peter Hughes

Where Next with Operational Risk? Observation and measurement issues pose continuing challenges As a researcher, I spend a good deal of time reading academic papers. One recently came into my hands written by an eminent group of academics and practitioners on the...

A View from the Chairman

Our mission “to position Risk Accounting as the universally adopted method of identifying, quantifying, aggregating, and reporting all forms of non-financial risks” is unquestionably ambitious. Indeed, we are constantly reminded of the challenges we face. For example,...

The Rise of a Complexitocracy

The Rise of a Complexitocracy Can accounting help restore simplicity and comparability to financial and risk reporting? Published by Peter J. Hughes on GARP.org (Fri., Jly 31st, 2020) “Complexitocracy” is not in the dictionary. But maybe it should be. If it were, the...

Is accounting to blame for the pandemic?

Is accounting to blame for the pandemic? by Peter j. Hughes, published by PRMIA in the July 2020 issue of “Intelligent Risk” Banks and airlines have something in common: they both have the potential to transform an isolated and sometimes freak event into a...