Improving organization means on the one hand searching for adequate product (service) matched to the market, on the other hand shaping the ability to react on risks caused by that activity. The second should consist of identifying and estimating types of risk, and consequently creating solutions...

The objective of this article is to develop a precise and rigorous measurement of a bank's operational VaR. We compare our model to the standard model frequently used in practice. This standard model is constructed based on lognormal and Poisson distributions which do not take into account any...