On 16 December 2009, Aizkraukles Banka, the bank with its headquarters in the Latvian capital of Riga with representative offices in Azerbaijan, Belarus, Kazakhstan, Russia, Ukraine and Uzbekistan has released a case study to share with the world its experience of managing operational risk for the purposes of Basel II.
A 3-page long case study document describes the past and the present of the operational risk management activities in the bank.
Smart and intelligent process design and a new technology have made it possible to put the quality of operational risk management up to the next level and make an important step towards applying the Advanced Measurement Approach under Basel II.
have been pointed out as the key practical benefits of the new approach applied.
Aizkraukles Banka Operational Risk Management Case Study
Aizkraukles Banka was established in 1993 in the city of Aizkraukle. Its headquarters are in the Latvian capital of Riga with representative offices in Azerbaijan, Belarus, Kazakhstan, Russia, Ukraine and Uzbekistan. The bank has the largest team of private bankers in Latvia and combines the best practices of the European banking system with an individual approach to each customer. Its mission is to become the leading independent private bank in Eastern Europe, combining all banking services, including asset management and advisory services, in a single customer-tailored offer.
Tags: Advanced Measurement Approach, Aizkraukles Banka, AMA, Basel 2, Basel II, Nexum ORM, Operational Risk Management