<?xml version="1.0" encoding="ISO-8859-1"?><article xmlns:mml="http://www.w3.org/1998/Math/MathML" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance">
<front>
<journal-meta>
<journal-id>1390-8618</journal-id>
<journal-title><![CDATA[RETOS. Revista de Ciencias de la Administración y Economía]]></journal-title>
<abbrev-journal-title><![CDATA[Retos]]></abbrev-journal-title>
<issn>1390-8618</issn>
<publisher>
<publisher-name><![CDATA[Universidad Politécnica Salesiana]]></publisher-name>
</publisher>
</journal-meta>
<article-meta>
<article-id>S1390-86182021000200217</article-id>
<article-id pub-id-type="doi">10.17163/ret.n22.2021.02</article-id>
<title-group>
<article-title xml:lang="es"><![CDATA[Modelaje y simulación del riesgo operativo de las instituciones fiduciarias en Colombia]]></article-title>
<article-title xml:lang="en"><![CDATA[Modeling and simulation of the operational risk of fiduciary institutions in Colombia]]></article-title>
</title-group>
<contrib-group>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Vahos-Zuleta]]></surname>
<given-names><![CDATA[Fausto Camilo]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Bedoya-Londoño]]></surname>
<given-names><![CDATA[David Alberto]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Boada]]></surname>
<given-names><![CDATA[Antonio]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
</contrib-group>
<aff id="Af1">
<institution><![CDATA[,Fundación Universitaria CEIPA  ]]></institution>
<addr-line><![CDATA[ ]]></addr-line>
<country>Colombia</country>
</aff>
<aff id="Af2">
<institution><![CDATA[,Universidad de Medellín  ]]></institution>
<addr-line><![CDATA[ ]]></addr-line>
<country>Colombia</country>
</aff>
<aff id="Af3">
<institution><![CDATA[,Fundación Universitaria CEIPA  ]]></institution>
<addr-line><![CDATA[ ]]></addr-line>
<country>Colombia</country>
</aff>
<pub-date pub-type="pub">
<day>00</day>
<month>03</month>
<year>2021</year>
</pub-date>
<pub-date pub-type="epub">
<day>00</day>
<month>03</month>
<year>2021</year>
</pub-date>
<volume>11</volume>
<numero>22</numero>
<fpage>217</fpage>
<lpage>233</lpage>
<copyright-statement/>
<copyright-year/>
<self-uri xlink:href="http://scielo.senescyt.gob.ec/scielo.php?script=sci_arttext&amp;pid=S1390-86182021000200217&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://scielo.senescyt.gob.ec/scielo.php?script=sci_abstract&amp;pid=S1390-86182021000200217&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://scielo.senescyt.gob.ec/scielo.php?script=sci_pdf&amp;pid=S1390-86182021000200217&amp;lng=en&amp;nrm=iso"></self-uri><abstract abstract-type="short" xml:lang="es"><p><![CDATA[Resumen Mediante este trabajo se desarrolló un modelo que se ha convertido en la primera experiencia para medir y estimar el impacto que han tenido las pérdidas netas en el riesgo operativo en las fiduciarias en Colombia y que permitiera a las fiduciarias estudiar y analizar la evolución y el impacto que tiene el riesgo operativo en sus utilidades. El sector de la industria de servicios financieros se ha visto expuesto a una cantidad de riesgos que conllevan a pérdidas en dichas entidades, y al sistema financiero en general; es así como a través de la definición de riesgo operativo, y la gestión de riesgo operacional, se implementa el estudio de indiciadores de riesgo a través de la metodología EaR (Utilidad de riesgo), establecido en tres fases: por un lado, la elección y recopilación de la información financiera de las fiduciarias a estudiar; la determinación de los estados financieros, con la construcción del estado de resultados, y finalizando con la determinación de la distribución probabilística que se adapta a la información histórica, para luego determinar las correlaciones entre las cuentas determinadas, para poder establecer el EaR a través de simulaciones de montecarlo. De esta manera, se ha podido no solo construir un modelo de cuantificación del riesgo operativo, a partir de la información financiera de ingresos y gastos, sino también obtener información estadística relevante sobre el impacto del riesgo operativo.]]></p></abstract>
<abstract abstract-type="short" xml:lang="en"><p><![CDATA[Abstract Through this work, a model was developed that has become the first experience to measure and forecast the impact that net losses have had on operating risk in fiduciary companies in Colombia and that would allow fiduciary companies to study and analyze the evolution and impact that operating risk has on their profits. The financial services industry sector has been exposed to a number of risks that lead to losses in these entities, and in the financial system in general; thus, through the definition of operational risk and operational risk management, the study of risk indicators is implemented through the EaR (Risk Usability) methodology, established in three phases: on the one hand, the selection and compilation of the financial information of the fiduciaries to be studied; the determination of the financial statements, with the construction of the income statement, and ending with the determination of the probabilistic distribution that adapts to the historical information, to then determine the correlations between the determined accounts, in order to be able to establish the EaR through Monte Carlo simulations. In this way, it was possible not only to build a model to quantify operating risk, based on financial information on income and expenses, but also to obtain relevant statistical information on the impact of operating risk.]]></p></abstract>
<kwd-group>
<kwd lng="es"><![CDATA[Riesgo operativo]]></kwd>
<kwd lng="es"><![CDATA[fiduciarias]]></kwd>
<kwd lng="es"><![CDATA[EaR]]></kwd>
<kwd lng="es"><![CDATA[utilidades y pérdidas]]></kwd>
<kwd lng="en"><![CDATA[Operational risk]]></kwd>
<kwd lng="en"><![CDATA[trust companies]]></kwd>
<kwd lng="en"><![CDATA[EaR]]></kwd>
<kwd lng="en"><![CDATA[profits and losses]]></kwd>
</kwd-group>
</article-meta>
</front><back>
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