{
  "vercy": "1.0-draft",
  "publication": {
    "status": "research-draft",
    "adjudicationStatus": "unreviewed",
    "publishableCanonical": false,
    "generatedAt": "2026-09-13T05:44:28Z",
    "providers": [
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    "breadth": "written by Claude from model knowledge without web access - no source was read, every claim is a lead to verify",
    "pass": 2,
    "wave": 3,
    "engine": "claude",
    "enrichment": {
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      "engine": "claude",
      "producedAt": "2026-10-06T10:00:00Z",
      "ingestedAt": "2026-10-06T07:09:11+00:00",
      "fields": [
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        "ethics",
        "owners"
      ]
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    "revisions": [
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  },
  "metaModel": {
    "id": "THING-Q944806",
    "registryId": "vr.tr.operational-risk",
    "name": "operational risk",
    "version": "0.2.0-wave.3",
    "entryKind": "thing",
    "family": "Thing Registry",
    "domain": [
      "INF.KNW"
    ],
    "status": "research-draft"
  },
  "canonicalUrl": "https://ver.cy/models/thing/q944806/",
  "model": {
    "registry_id": "vr.tr.operational-risk",
    "name": "operational risk",
    "purpose": "Let an agent explain operational risk and its categories, relay definitions, management frameworks and capital rules from financial regulation and risk management sources, describe measurement and controls, and distinguish operational risk from credit, market, strategic and reputational risk, without giving personal financial advice.",
    "definition": "The risk of loss resulting from inadequate or failed internal processes, people and systems or from external events, as defined by the Basel Committee for banks, encompassing IT risk, legal risk, operational failures in settlement, sales and conduct risk, and human factors issues such as automation surprise; the Basel definition excludes strategic and reputational risk, although operational failures can have reputational consequences, and settlement risk can also involve credit and liquidity risk; operational risk is managed through controls, loss data, scenario analysis and capital requirements and is distinct from credit and market risk.",
    "what_it_is_for": "Managing losses from processes, people, systems and events.",
    "affordances": [
      "explain the concept and categories",
      "relay frameworks and rules",
      "describe measurement and controls",
      "distinguish related risks"
    ],
    "distinguishing_features": [
      "Process, people, systems, events",
      "Basel framework",
      "Loss data and scenarios",
      "Cross-industry relevance"
    ],
    "appearance": "Not a visible object; a risk category.",
    "visual_identification": [
      "Risk from failed processes, people, systems or external events",
      "IT risk, legal risk, settlement risk, sales risk, reputational consequences, automation surprise",
      "Credit risk is default; market risk is price movement; strategic risk concerns business decisions"
    ],
    "physical_properties": [
      {
        "quantity": "Basel definition",
        "typical_range": "Basel II, 2004",
        "unit": "reference",
        "note": ""
      },
      {
        "quantity": "Basel event categories",
        "typical_range": "7",
        "unit": "count",
        "note": ""
      },
      {
        "quantity": "standardised approach",
        "typical_range": "Basel III finalised 2017",
        "unit": "reference",
        "note": ""
      }
    ],
    "families_and_kinds": [
      "IT and cyber risk",
      "legal and compliance risk",
      "settlement and processing risk",
      "sales and conduct risk",
      "fraud and people risk",
      "external event risk including disasters",
      "reputational risk as a consequence",
      "human factors such as automation surprise"
    ],
    "related_models": [
      {
        "relation": "is a kind of",
        "target": "internal risk",
        "why": "in registry terms"
      },
      {
        "relation": "is defined by",
        "target": "Basel Committee on Banking Supervision",
        "why": "for banks"
      },
      {
        "relation": "is contrasted with",
        "target": "credit risk",
        "why": "and market risk"
      },
      {
        "relation": "is managed through",
        "target": "enterprise risk management",
        "why": "frameworks"
      }
    ],
    "identifiers": [],
    "standards_and_regulation": [
      "Basel II and III operational risk requirements",
      "ISO 31000 risk management",
      "Sector rules such as Solvency II for insurers",
      "Operational resilience regulations"
    ],
    "failure_modes_and_hazards": [
      "Confusing operational with strategic or reputational risk",
      "Underreporting of loss events",
      "Agents giving personal financial advice"
    ],
    "in_scope": [],
    "out_of_scope": [],
    "characteristics": [],
    "agent_conduct": {
      "may": [
        "Explain operational risk and the Basel definition, citing regulatory sources.",
        "Help a firm record and classify incidents in systems it is authorized to use."
      ],
      "must_not": [
        "Hide or misreport incidents or losses to regulators or management.",
        "Present a risk model as covering every event.",
        "Give binding regulatory compliance advice for a specific institution."
      ],
      "requires_human": [
        "Approving risk assessments or capital calculations reported to regulators."
      ]
    },
    "ethics": {
      "considerations": [
        "Operational failures in banks and systems can harm customers and the wider economy.",
        "Blaming individuals for systemic failures is unfair."
      ],
      "affected_parties": [
        "Customers",
        "Staff",
        "Depositors"
      ]
    },
    "owners": {
      "steward": "The firm's management, under financial regulators.",
      "master_systems": []
    }
  },
  "sources": [
    {
      "id": "wikidata",
      "title": "Wikidata item Q944806: operational risk",
      "url": "https://www.wikidata.org/wiki/Q944806",
      "url_status": "live",
      "what_it_supports": "identity and sense of the item",
      "checked_by": "wikidata-api"
    },
    {
      "id": "wikipedia-en",
      "title": "Wikipedia: Operational risk",
      "url": "https://en.wikipedia.org/wiki/Operational_risk",
      "url_status": "live",
      "what_it_supports": "general description of the item",
      "checked_by": "wikidata-api sitelink"
    }
  ],
  "structure": {
    "bundles": [
      {
        "id": "understand",
        "name": "Understand",
        "description": "What operational risk is.",
        "rationale": "Definition.",
        "layers": [
          {
            "id": "definition",
            "name": "Definition",
            "description": "Definition.",
            "findings": [
              {
                "id": "definition-finding",
                "name": "Definition",
                "description": "Definition.",
                "questions": [
                  {
                    "text": "What is operational risk, and how does it differ from credit, market, strategic and reputational risk?",
                    "kind": "definition"
                  },
                  {
                    "text": "Is the question about the concept, a subtype, a regulation or a personal matter?",
                    "kind": "boundary"
                  }
                ]
              }
            ]
          },
          {
            "id": "categories",
            "name": "Categories",
            "description": "Categories.",
            "findings": [
              {
                "id": "categories-finding",
                "name": "Categories",
                "description": "Categories.",
                "questions": [
                  {
                    "text": "What are IT, legal, settlement, sales and other operational risk categories, and what is automation surprise?",
                    "kind": "definition"
                  },
                  {
                    "text": "Which entry fits the specific category?",
                    "kind": "action"
                  }
                ]
              }
            ]
          }
        ]
      },
      {
        "id": "manage",
        "name": "Manage",
        "description": "Management.",
        "rationale": "Practice.",
        "layers": [
          {
            "id": "framework",
            "name": "Framework",
            "description": "Frameworks.",
            "findings": [
              {
                "id": "framework-finding",
                "name": "Framework",
                "description": "Framework.",
                "questions": [
                  {
                    "text": "How do organisations identify, assess and control operational risk using loss data, indicators and scenarios?",
                    "kind": "provenance"
                  },
                  {
                    "text": "Which references are standard?",
                    "kind": "provenance"
                  }
                ]
              }
            ]
          },
          {
            "id": "measurement",
            "name": "Measurement",
            "description": "Measurement and capital.",
            "findings": [
              {
                "id": "measurement-finding",
                "name": "Measurement",
                "description": "Measurement.",
                "questions": [
                  {
                    "text": "How is operational risk measured, and how do Basel capital rules treat it?",
                    "kind": "provenance"
                  },
                  {
                    "text": "Which sources are cited?",
                    "kind": "provenance"
                  }
                ]
              }
            ]
          }
        ]
      },
      {
        "id": "regulate",
        "name": "Regulate",
        "description": "Regulation.",
        "rationale": "Regulation.",
        "layers": [
          {
            "id": "basel",
            "name": "Basel",
            "description": "Basel framework.",
            "findings": [
              {
                "id": "basel-finding",
                "name": "Basel",
                "description": "Basel.",
                "questions": [
                  {
                    "text": "What do Basel II and III require for operational risk, and how did the approach change?",
                    "kind": "provenance"
                  },
                  {
                    "text": "Which entry fits Basel III?",
                    "kind": "action"
                  }
                ]
              }
            ]
          },
          {
            "id": "resilience",
            "name": "Resilience",
            "description": "Operational resilience.",
            "findings": [
              {
                "id": "resilience-finding",
                "name": "Resilience",
                "description": "Resilience.",
                "questions": [
                  {
                    "text": "How do operational resilience rules extend operational risk management?",
                    "kind": "provenance"
                  },
                  {
                    "text": "Which entry fits operational resilience?",
                    "kind": "action"
                  }
                ]
              }
            ]
          }
        ]
      },
      {
        "id": "context",
        "name": "Context",
        "description": "Cases and history.",
        "rationale": "Context.",
        "layers": [
          {
            "id": "cases",
            "name": "Cases",
            "description": "Cases.",
            "findings": [
              {
                "id": "cases-finding",
                "name": "Cases",
                "description": "Cases.",
                "questions": [
                  {
                    "text": "What major operational risk events, from rogue trading to IT outages, illustrate the category, as reported?",
                    "kind": "provenance"
                  },
                  {
                    "text": "Which entry fits the specific event?",
                    "kind": "action"
                  }
                ]
              }
            ]
          },
          {
            "id": "history",
            "name": "History",
            "description": "History.",
            "findings": [
              {
                "id": "history-finding",
                "name": "History",
                "description": "History.",
                "questions": [
                  {
                    "text": "How did operational risk emerge as a distinct discipline?",
                    "kind": "provenance"
                  },
                  {
                    "text": "Which entry fits the history of risk management?",
                    "kind": "action"
                  }
                ]
              }
            ]
          }
        ]
      }
    ]
  },
  "openQuestions": [
    "Should IT risk and legal risk be separate primary entries?",
    "How should regulatory sources be linked?",
    "The registry entry has merged aliases naming subtypes and a human factors term; should they be split off?"
  ],
  "statistics": {
    "bundles": 4,
    "layers": 8,
    "findings": 8,
    "questions": 16
  }
}