Bringing quantification into the risk game - David Vose #RAW2022

• Why ordinal scales and heat maps are used for operational risk

• Why scores and heat maps can lead to false conclusions

• How to test the level of error introduced by heat maps

• Using bowtie risk diagrams to better describe key risks and their treatment

• How quantitative bowtie diagrams better reflect the intentions of Basel II’s AMA approach

• How to include of non-financial risks

• How to optimize the cost effectiveness of risk treatments

• Incorporating sequential risks in a bowtie network