Methodical tools for operational risk assessment in banks in the conditions of digital economy

Kovalenko Victoria
D.Sc. (Economics), Professor, Professor, Department of Banking, Odessa National University of Economics, Odessa, Ukraine e-mail: : kovalenko-6868@ukr.net, ORCID ID: http://orcid.org/0000-0003-2783-186X

Gonchar Kateryna
Postgraduate Student, Postgraduate student of The Department of Banking, Odessa National University of Economics, Odesa, Ukraine e-mail: : sivkovak@ukr.net, ORCID ID: http://orcid.org/0000-0002-8350-3134

Cite this article:

Kovalenko V., Gonchar K. Methodical tools for operational risk assessment in banks in the conditions of digital economy. Scientific Bulletin of the Odessa National Economic University. 2021. № 1-2 (278-279). pp. 46-52.

Abstract

The purpose of this article is the analyze of the methodological tools for assessing the operational risk of the bank in a digital economy. The methods used to conduct the research are a comparative analysis of operational risk assessment tools, factor analysis of factors that affect the capital to cover operational risk. Results of the article. The article lists the main digital technologies that affect the economy and banking, and, accordingly, are the causes of operational risk. The connection between the growing necessity for the use of digital technologies and the increase in the number of facts of occurrence of operational risk is established. The need for operational risk assessment and management has been proven. A list of required and additional operational risk assessment tools is provided. A factor analysis was performed, according to which the influence of factors on capital to cover operational risk was determined on the example of one bank. Banks of Ukraine are analyzed for the completeness of their operational risk management policy and the features of banks’ using of operational risk assessment tools are identified. Systemically important banks have been identified in which there is no specially authorized unit for operational risk management and which do not accumulate information on operational risk events. The scientific novelty of the article is to prove the relationship between the widespread of digital technologies in the banking sector and the increase in the implementation of operational risk. We also propose to use factor analysis as a tool for assessing operational risk, as well as to create databases in which to record cases of operational risk. The practical importance of this work lies in the established relationship between the development of digital technologies and increasing the facts of operational risk. Banks are also recommended to maintain their own database of operational risk events and to create a special structural unit for operational risk management.

Keywords

digital economy, digital technologies, bank, operational risk, tools for operational risk assessment.

JEL classification: C100, G210, O300 DOI: 10.32680/2409-9260-2021-1-2-278-279-46-52

УДК: 336.719

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