Nordea Capital Markets Products, responsible for all Nordea markets activities, is working with DNV to further improve and up-grade their capability to manage operational risk

DNV and Nordea Capital Markets Products are developing an operational risk architecture and methodology that borrows from the risk management regime used in European Air Traffic Management.

This is done by adding new features to the operational risk management framework as human and organisational factors are incorporated in the risk management approach.

The industry finds it difficult to address operational risk. The human and organisational factors involved are difficult, if not impossible, to quantify in the traditional credit risk and market risk analyses used in the finance industry. Many financial institutions, such as Nordea Capital Markets Products, are developing highly complex, innovative financial products and operational risk is considered increasingly important within the industry.

Date: 11 February 2008