FRM公式在FRM考試中是非常重要的，備考的考生一定要有所掌握，不僅要掌握還需要會靈活運用。今天，小編為大家介紹一下FRM二級操作風險和彈性的相關FRM公式介紹！

Operational Risk Governance：

The Basel Committee on Banking Supervision defines operational risk as “the risk of loss resulting from inadequate or failed internal processes, people and systems or from external events.” Lines of defense to control operational risks include (1) risk management in each business unit, (2) independent operational risk management function, and (3) independent reviews of operational risks and risk management (internal and/or external reviews).

Enterprise Risk Management (ERM)：

In developing an ERM system, management should follow the following framework:

? Determine the firm’s acceptable level of risk.

? Based on the firm’s target debt rating, estimate the capital (buffer) required to support the current level of risk in the firm’s operations.

? Determine the ideal mix of capital and risk that will achieve the appropriate debt rating.

? Give individual managers the information and the incentive they need to make decisions appropriate to maintain the risk/capital tradeoff. The implementation steps of ERM are as follows:

? Identify the risks of the firm.【資料下載】點擊下載GARP官方FRM二級練習題

? Develop a consistent method to evaluate the firm’s exposure to the identified risks.

Firm-Wide VaR：

? Firms that use VaR to assess potential loss amounts will have multiple VaR measures to manage.

? Market risk, credit risk, and operational risk will each produce its own VaR measures.

? Due to diversification effects, firm-wide VaR will be less than the sum of the VaRs from each risk

category.

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