Global Operations and Loss Database (GOLD)

The Global Operational Loss Database is an industry platform managed by UK Finance for institutions to share loss event information anonymously.  GOLD was originally launched in 2000 to inform and improve operational risk management practices and, in the years since, by examining causal factors, control failures, risk categories and impacts, institutions have been able to compare their own loss experience against others, learn from the circumstances giving rise to losses in the industry and use the data in their risk control self-assessment (RCSA), scenario analysis (SA) and internal capital adequacy assessment process (ICAAP).  Alongside the database, institutions subscribing to GOLD can use a key risk indicator (KRI) library, access near real-time media monitoring of operational risk articles and an industry-recognised taxonomy, while our network of practitioners frequently come together to consider mutual interests in the use of internal and external data within operational risk management.

If your institution would like to find out more about GOLD, please contact gold@ukfinance.org.uk