Recording a loss event
A loss event records what happened, when, where in the business, why, and which Basel event type it falls under. The system issues its event code and stamps the reporter.
Who may do it: a Risk Champion or other reporter in the entity where the event happened; the Entity Risk Manager. See Roles and permissions.
What a loss event carries
Section titled “What a loss event carries”| Field | What it holds |
|---|---|
| Event code | Issued by the system when the event is first saved, in the format LE-2026-0001. It cannot be typed or changed. |
| Event date | When the event happened |
| Discovery date | When it was found |
| Accounting date | When it was booked in the accounts — the date the loss data set reads |
| Reporting date | When it was reported |
| Business line | Where in the business it happened |
| Cause | Why it happened |
| Basel event type | One of the seven Level-1 types, EL01–EL07 — see Standards mapping |
| Near miss | Marks an event that could have caused a loss but did not |
| Linked risk | The risk in the entity’s risk register that the event belongs to |
| Reporter | Stamped by the system — the person who recorded the event |
Recording an event
Section titled “Recording an event”- Open your entity’s loss event register and start a new event.
- Enter the four dates.
- Choose the business line and describe the cause.
- Choose the Basel event type.
- Mark it as a near miss if no loss resulted.
- Link it to the risk in the register that it belongs to.
- Enter the amounts — see Amounts, currencies and FX.
- Save. The system issues the event code, stamps you as the reporter and computes the materiality tier. The event is saved as a Draft.
- When it is complete, submit it to Risk Management for validation.
Loss events from BCP Core
Section titled “Loss events from BCP Core”When a BCP incident is closed in BCP Core, the system creates a draft loss event in ERM Core, without amounts. The entity’s Entity Risk Manager completes it from step 2 above, so nothing is re-keyed.
What the system does or refuses
Section titled “What the system does or refuses”- Issues the event code and stamps the reporter; neither can be typed. See Computed, never typed and Who-filed is stamped.
- Keeps the event inside the entity until it is validated. See Reported-Then-Visible.
- Refuses entries from outside the entity. A parent user cannot record a loss event for a subsidiary. See Subsidiary-Independence.