Multi-expert operational risk management

Operational risk management is the process of monitoring, evaluating, and c hanging courses of actions with potential detrimental consequences in real time. in this paper, we extend the decision models proposed in the Literatu re for individual risk managers to account for situations,where multiple ri sk managers are involved. For this purpose, two dynamic and adaptive prefer ence aggregation models for cardinal and ordinal assessments are proposed a nd discussed, The mechanical aspects of the models are then validated using held data collected from experienced operational risk managers in an indiv idual-expert setting. Sensitivity analysis indicates that the models have e nough flexibility to be adapted to account for behavioral considerations. T he paper closes with a research agenda.