The Operational Risk Handbook For Financial Companies

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The Operational Risk Handbook for Financial Companies

Author : Brian Barnier
Publisher : Harriman House Limited
ISBN 13 : 085719156X
Total Pages : 166 pages
Book Rating : 4.8/5 (571 download)

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Book Synopsis The Operational Risk Handbook for Financial Companies by : Brian Barnier

Download or read book The Operational Risk Handbook for Financial Companies written by Brian Barnier and published by Harriman House Limited. This book was released on 2011-07-08 with total page 166 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Operational Risk Handbook for Financial Companies is a groundbreaking new book. It seeks to apply for the first time a range of proven operational risk techniques from other industries and disciplines to the troubled territory of financial services. Operational risk expert Brian Barnier introduces a range of sophisticated, dependable and - crucially - approachable tools for risk evaluation, risk response and risk governance. He provides a more robust way of gaining a better picture of risks, shows how to build risk-return awareness into decision making, and how to fix (and not just report) risks. The practical importance of fully understanding and acting on risk to the business begins in the foreword on plan-B thinking, penned by Marshall Carter, chairman of the NYSE and deputy chairman of NYSE Euronext. The book is unique because: - It is not just about modeling and a few basic tools derived from regulatory requirements. Instead, it looks at management of risk to operations across industries, professional disciplines and history to help ops risk leaders become aware of the entire landscape of proven experience, not just their own conference room. - It is not just about compliance. Instead, it looks to operations as part of performance - managing risk to return for shareholders and other interests (e.g. guarantee funds). - It is not content to look at risk in stand-alone segments or silos; instead it takes a systems approach. - It is not just about ops risk leaders sharing war stories at a conference. Instead, it introduces a panel of six financial institution board members who get risk management and provide their perspectives throughout the book to encourage/demand more from ops risk to meet the needs of the institution in the world. - It is not a semi-random collection of tips and tricks. Instead, it is grounded in a risk-management process flow tailored to financial companies from a range of proven experience, providing tools to help at each step. Suitable for companies of all sizes, this book is of direct relevance and use to all business managers, practitioners, boards and senior executives. Key insights from and for each are built into every chapter, including unique contributions from board members of a range of companies. The Operational Risk Handbook for Financial Companies is an essential book for making better decisions at every level of a financial company; ones that measurably improve outcomes for boards, managers, employees and shareholders alike.

Operational Risk Management

Author : Philippa X. Girling
Publisher : John Wiley & Sons
ISBN 13 : 1118532457
Total Pages : 354 pages
Book Rating : 4.1/5 (185 download)

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Book Synopsis Operational Risk Management by : Philippa X. Girling

Download or read book Operational Risk Management written by Philippa X. Girling and published by John Wiley & Sons. This book was released on 2013-10-14 with total page 354 pages. Available in PDF, EPUB and Kindle. Book excerpt: A best practices guide to all of the elements of an effective operational risk framework While many organizations know how important operational risks are, they still continue to struggle with the best ways to identify and manage them. Organizations of all sizes and in all industries need best practices for identifying and managing key operational risks, if they intend on exceling in today's dynamic environment. Operational Risk Management fills this need by providing both the new and experienced operational risk professional with all of the tools and best practices needed to implement a successful operational risk framework. It also provides real-life examples of successful methods and tools you can use while facing the cultural challenges that are prevalent in this field. Contains informative post-mortems on some of the most notorious operational risk events of our time Explores the future of operational risk in the current regulatory environment Written by a recognized global expert on operational risk An effective operational risk framework is essential for today's organizations. This book will put you in a better position to develop one and use it to identify, assess, control, and mitigate any potential risks of this nature.

Operational Risk Management

Author : Ariane Chapelle
Publisher : John Wiley & Sons
ISBN 13 : 1119549043
Total Pages : 272 pages
Book Rating : 4.1/5 (195 download)

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Book Synopsis Operational Risk Management by : Ariane Chapelle

Download or read book Operational Risk Management written by Ariane Chapelle and published by John Wiley & Sons. This book was released on 2019-02-04 with total page 272 pages. Available in PDF, EPUB and Kindle. Book excerpt: OpRisk Awards 2020 Book of the Year Winner! The Authoritative Guide to the Best Practices in Operational Risk Management Operational Risk Management offers a comprehensive guide that contains a review of the most up-to-date and effective operational risk management practices in the financial services industry. The book provides an essential overview of the current methods and best practices applied in financial companies and also contains advanced tools and techniques developed by the most mature firms in the field. The author explores the range of operational risks such as information security, fraud or reputation damage and details how to put in place an effective program based on the four main risk management activities: risk identification, risk assessment, risk mitigation and risk monitoring. The book also examines some specific types of operational risks that rank high on many firms' risk registers. Drawing on the author's extensive experience working with and advising financial companies, Operational Risk Management is written both for those new to the discipline and for experienced operational risk managers who want to strengthen and consolidate their knowledge.

Operational Risk Management

Author : Philippa X. Girling
Publisher : John Wiley & Sons
ISBN 13 : 1119836050
Total Pages : 393 pages
Book Rating : 4.1/5 (198 download)

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Book Synopsis Operational Risk Management by : Philippa X. Girling

Download or read book Operational Risk Management written by Philippa X. Girling and published by John Wiley & Sons. This book was released on 2022-02-17 with total page 393 pages. Available in PDF, EPUB and Kindle. Book excerpt: Identify, assess, and mitigate operational risk with this practical and authoritative guide In the newly revised second edition of Operational Risk Management: A Complete Guide for Banking and Fintech, accomplished risk executive and expert Philippa Girling delivers an insightful and practical exploration of operational risk in organizations of all sizes. She offers risk professionals and executives the tools, strategies, and best practices they need to mitigate and overcome ever-present operational risk challenges that impact business in all industries. This latest edition includes: Insight into how operational risk can be effectively managed and measured in today's digital banking age. Updates on the latest regulatory guidance on operational risk management requirements in all aspects of the operational risk framework. Updates on the new Basel II capital modeling methodology for operational risk. New explorations of operational risk events in recent years including the impact of the global Covid-19 pandemic. Updated case studies including large events at Wells Fargo, Credit Suisse and Archegos Capital Management. Ideal for executives, managers, and business leaders, Operational Risk Management is also the perfect resource for risk and compliance professionals who wish to refine their abilities to identify, assess, mitigate, and control operational risk.

Mastering Operational Risk

Author : Tony Blunden
Publisher : Pearson UK
ISBN 13 : 0273778846
Total Pages : 320 pages
Book Rating : 4.2/5 (737 download)

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Book Synopsis Mastering Operational Risk by : Tony Blunden

Download or read book Mastering Operational Risk written by Tony Blunden and published by Pearson UK. This book was released on 2013-10-03 with total page 320 pages. Available in PDF, EPUB and Kindle. Book excerpt: A practical guide, from the basic techniques, through to advanced applications, showing you what operational risk is, and how you can manage it. Mastering Operational Risk provides a step-by-step guide from the basic elements of operational risk through to advanced applications of operational risk management. Focusing on practical applications, it gives you the knowledge needed to understand what operational risk is and puts in place a workable way of managing it. The full text downloaded to your computer With eBooks you can: search for key concepts, words and phrases make highlights and notes as you study share your notes with friends eBooks are downloaded to your computer and accessible either offline through the Bookshelf (available as a free download), available online and also via the iPad and Android apps. Upon purchase, you'll gain instant access to this eBook. Time limit The eBooks products do not have an expiry date. You will continue to access your digital ebook products whilst you have your Bookshelf installed.

Operational Risk Modeling in Financial Services

Author : Patrick Naim
Publisher : John Wiley & Sons
ISBN 13 : 1119508509
Total Pages : 327 pages
Book Rating : 4.1/5 (195 download)

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Book Synopsis Operational Risk Modeling in Financial Services by : Patrick Naim

Download or read book Operational Risk Modeling in Financial Services written by Patrick Naim and published by John Wiley & Sons. This book was released on 2019-05-28 with total page 327 pages. Available in PDF, EPUB and Kindle. Book excerpt: Transform your approach to oprisk modelling with a proven, non-statistical methodology Operational Risk Modeling in Financial Services provides risk professionals with a forward-looking approach to risk modelling, based on structured management judgement over obsolete statistical methods. Proven over a decade’s use in significant banks and financial services firms in Europe and the US, the Exposure, Occurrence, Impact (XOI) method of operational risk modelling played an instrumental role in reshaping their oprisk modelling approaches; in this book, the expert team that developed this methodology offers practical, in-depth guidance on XOI use and applications for a variety of major risks. The Basel Committee has dismissed statistical approaches to risk modelling, leaving regulators and practitioners searching for the next generation of oprisk quantification. The XOI method is ideally suited to fulfil this need, as a calculated, coordinated, consistent approach designed to bridge the gap between risk quantification and risk management. This book details the XOI framework and provides essential guidance for practitioners looking to change the oprisk modelling paradigm. Survey the range of current practices in operational risk analysis and modelling Track recent regulatory trends including capital modelling, stress testing and more Understand the XOI oprisk modelling method, and transition away from statistical approaches Apply XOI to major operational risks, such as disasters, fraud, conduct, legal and cyber risk The financial services industry is in dire need of a new standard — a proven, transformational approach to operational risk that eliminates or mitigates the common issues with traditional approaches. Operational Risk Modeling in Financial Services provides practical, real-world guidance toward a more reliable methodology, shifting the conversation toward the future with a new kind of oprisk modelling.

Handbook of Financial Risk Management

Author : Thierry Roncalli
Publisher : CRC Press
ISBN 13 : 1351385224
Total Pages : 987 pages
Book Rating : 4.3/5 (513 download)

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Book Synopsis Handbook of Financial Risk Management by : Thierry Roncalli

Download or read book Handbook of Financial Risk Management written by Thierry Roncalli and published by CRC Press. This book was released on 2020-04-23 with total page 987 pages. Available in PDF, EPUB and Kindle. Book excerpt: Developed over 20 years of teaching academic courses, the Handbook of Financial Risk Management can be divided into two main parts: risk management in the financial sector; and a discussion of the mathematical and statistical tools used in risk management. This comprehensive text offers readers the chance to develop a sound understanding of financial products and the mathematical models that drive them, exploring in detail where the risks are and how to manage them. Key Features: Written by an author with both theoretical and applied experience Ideal resource for students pursuing a master’s degree in finance who want to learn risk management Comprehensive coverage of the key topics in financial risk management Contains 114 exercises, with solutions provided online at www.crcpress.com/9781138501874

A Short Guide to Operational Risk

Author : David Tattam
Publisher : Routledge
ISBN 13 : 1351961667
Total Pages : 168 pages
Book Rating : 4.3/5 (519 download)

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Book Synopsis A Short Guide to Operational Risk by : David Tattam

Download or read book A Short Guide to Operational Risk written by David Tattam and published by Routledge. This book was released on 2017-05-15 with total page 168 pages. Available in PDF, EPUB and Kindle. Book excerpt: There is a growing awareness across both public and private sectors, that the key to embedding an effective risk culture lies in raising the general education and understanding of risk at every level in the organization. This is exactly the purpose of David Tattam's book. A Short Guide to Operational Risk provides you with a basic yet comprehensive overview of the nature of operational risk in organizations. It introduces operational risk as a component of enterprise wide risk management and takes the reader through the processes of identifying, assessing, quantifying and managing operational risk; explaining the practical aspects of how these steps can be applied to an organization using a range of management tools. The book is fully illustrated with graphs, tables and short examples, all designed to make a subject that is often poorly understood, comprehensible and engaging. A Short Guide to Operational Risk is a book to be read and shared at all levels of the organization; it offers a common understanding and language of risk that will provide individual readers with the basis to develop risk management skills, appropriate to their role in the business. The Open Access version of this book, available at http://www.taylorfrancis.com, has been made available under a Creative Commons Attribution-Non Commercial-No Derivatives (CC-BY-NC-ND) 4.0 license.

Operational Risk

Author : Jack L. King
Publisher : Wiley
ISBN 13 : 9780471852094
Total Pages : 0 pages
Book Rating : 4.8/5 (52 download)

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Book Synopsis Operational Risk by : Jack L. King

Download or read book Operational Risk written by Jack L. King and published by Wiley. This book was released on 2001-04-25 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Operational risk is emerging as the third leg of an institutional risk strategy for financial institutions. Now recognized as a potential source of financial waste, operational risk has become the subject of surveys, analysis, and the search for a comprehenvise set of definitions and a shared framework. Written by a leading expert on operational risk measurement, this important work puts forth a cradle-to-grave hands-on approach that concentrates on measurement of risk in order to provide the needed feedback for managing and mitigating it. Using both theoretical and practical material, he lays out a foundation theory that can be applied and refined for application in the financial sector and beyond which includes a new technique called Delta-EVT(trademark). This technique is a combination of two existing methods which provides for the complete measurement of operational risk loss. The book contains comprehensive step-by-step descriptions based on real-world examples, formulas and procedures for calculating many common risk measures and building causal models using Bayesian networks, and background for understanding the history and motivation for addressing operational risk.

Operational Risk Management in Banks

Author : Giuliana Birindelli
Publisher : Springer
ISBN 13 : 1137594527
Total Pages : 221 pages
Book Rating : 4.1/5 (375 download)

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Book Synopsis Operational Risk Management in Banks by : Giuliana Birindelli

Download or read book Operational Risk Management in Banks written by Giuliana Birindelli and published by Springer. This book was released on 2017-07-26 with total page 221 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book focuses on several topical issues related to the operational risk management in bank: regulation, organisation and strategy. It analyses the connections between the different key-players involved in the operational risk process and the most relevant implications, both operational and strategic, arising from the implementation of the prudential framework.

Managing Operational Risk in Financial Markets

Author : Amanat Hussain
Publisher : Butterworth-Heinemann
ISBN 13 : 9780750647328
Total Pages : 292 pages
Book Rating : 4.6/5 (473 download)

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Book Synopsis Managing Operational Risk in Financial Markets by : Amanat Hussain

Download or read book Managing Operational Risk in Financial Markets written by Amanat Hussain and published by Butterworth-Heinemann. This book was released on 2000-06-05 with total page 292 pages. Available in PDF, EPUB and Kindle. Book excerpt: Risk management is one of the biggest issues facing the financial markets today. This volume outlines the major issues for risk management and focuses on operational risk as a key activity in managing risk on an enterprise-wide basis.

Fundamental Aspects of Operational Risk and Insurance Analytics

Author : Marcelo G. Cruz
Publisher : John Wiley & Sons
ISBN 13 : 1118573021
Total Pages : 928 pages
Book Rating : 4.1/5 (185 download)

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Book Synopsis Fundamental Aspects of Operational Risk and Insurance Analytics by : Marcelo G. Cruz

Download or read book Fundamental Aspects of Operational Risk and Insurance Analytics written by Marcelo G. Cruz and published by John Wiley & Sons. This book was released on 2015-01-20 with total page 928 pages. Available in PDF, EPUB and Kindle. Book excerpt: A one-stop guide for the theories, applications, and statistical methodologies essential to operational risk Providing a complete overview of operational risk modeling and relevant insurance analytics, Fundamental Aspects of Operational Risk and Insurance Analytics: A Handbook of Operational Risk offers a systematic approach that covers the wide range of topics in this area. Written by a team of leading experts in the field, the handbook presents detailed coverage of the theories, applications, and models inherent in any discussion of the fundamentals of operational risk, with a primary focus on Basel II/III regulation, modeling dependence, estimation of risk models, and modeling the data elements. Fundamental Aspects of Operational Risk and Insurance Analytics: A Handbook of Operational Risk begins with coverage on the four data elements used in operational risk framework as well as processing risk taxonomy. The book then goes further in-depth into the key topics in operational risk measurement and insurance, for example diverse methods to estimate frequency and severity models. Finally, the book ends with sections on specific topics, such as scenario analysis; multifactor modeling; and dependence modeling. A unique companion with Advances in Heavy Tailed Risk Modeling: A Handbook of Operational Risk, the handbook also features: Discussions on internal loss data and key risk indicators, which are both fundamental for developing a risk-sensitive framework Guidelines for how operational risk can be inserted into a firm’s strategic decisions A model for stress tests of operational risk under the United States Comprehensive Capital Analysis and Review (CCAR) program A valuable reference for financial engineers, quantitative analysts, risk managers, and large-scale consultancy groups advising banks on their internal systems, the handbook is also useful for academics teaching postgraduate courses on the methodology of operational risk.

Operational Risk Management

Author : Philippa X. Girling
Publisher : John Wiley & Sons
ISBN 13 : 1119836042
Total Pages : 393 pages
Book Rating : 4.1/5 (198 download)

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Book Synopsis Operational Risk Management by : Philippa X. Girling

Download or read book Operational Risk Management written by Philippa X. Girling and published by John Wiley & Sons. This book was released on 2022-02-23 with total page 393 pages. Available in PDF, EPUB and Kindle. Book excerpt: Identify, assess, and mitigate operational risk with this practical and authoritative guide In the newly revised second edition of Operational Risk Management: A Complete Guide for Banking and Fintech, accomplished risk executive and expert Philippa Girling delivers an insightful and practical exploration of operational risk in organizations of all sizes. She offers risk professionals and executives the tools, strategies, and best practices they need to mitigate and overcome ever-present operational risk challenges that impact business in all industries. This latest edition includes: Insight into how operational risk can be effectively managed and measured in today's digital banking age. Updates on the latest regulatory guidance on operational risk management requirements in all aspects of the operational risk framework. Updates on the new Basel II capital modeling methodology for operational risk. New explorations of operational risk events in recent years including the impact of the global Covid-19 pandemic. Updated case studies including large events at Wells Fargo, Credit Suisse and Archegos Capital Management. Ideal for executives, managers, and business leaders, Operational Risk Management is also the perfect resource for risk and compliance professionals who wish to refine their abilities to identify, assess, mitigate, and control operational risk.

Ten Laws of Operational Risk

Author : Michael Grimwade
Publisher : John Wiley & Sons
ISBN 13 : 1119841356
Total Pages : 423 pages
Book Rating : 4.1/5 (198 download)

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Book Synopsis Ten Laws of Operational Risk by : Michael Grimwade

Download or read book Ten Laws of Operational Risk written by Michael Grimwade and published by John Wiley & Sons. This book was released on 2022-01-04 with total page 423 pages. Available in PDF, EPUB and Kindle. Book excerpt: TEN LAWS OF OPERATIONAL RISK Unlike credit and market risk, operational risk currently lacks an overarching theory to explain how and why losses occur. As a result, operational risk managers have been forced to use unsatisfactory tools and processes that fail to add sufficient commercial value. In Ten Laws of Operational Risk: Understanding its Behaviours to Improve its Management, Michael Grimwade delivers an insightful discussion of the nature of operational risk and a groundbreaking redesign of the profession???s existing tools. The author???s Ten Laws are grounded on the business profiles of firms and the human and institutional behaviours that drive operational risk. They are underpinned by taxonomies for the causes; the inadequacies or failures that constitute both control failures and events; and the impacts of operational risks. Drawing on twenty-five years of first-hand experience and research, this book explains the patterns and trends that are apparent in the historical data and offers solutions to the persistent problems inherent in risk appetite, RCSAs, scenario analysis, reputational risk, stress testing, capital modeling, and insurance. It also provides fresh insights into the everyday activities of risk managers with respect to predictive key risk and control indicators, root cause analysis, why controls fail, the risks posed by change, and product risk profiles. Ten Laws of Operational Risk presents a structured and evidence-based approach to identifying emerging risks and predicting future behaviours related to pandemics, climate change, cybercrime, artificial intelligence, and machine learning. It includes revealing industry data, in-depth case studies, and real-world examples that shed light on recurring and obstinate problems in operational risk management. A must-read resource for Chief Risk Officers and other risk professionals, as well as regulators, management consultants, and students and scholars of operational risk, Ten Laws of Operational Risk provides an invaluable new, systematic, and rigorous approach to operational risk management. PRAISE FOR TEN LAWS OF OPERATIONAL RISK ???Operational Risk can no longer be described as a new concept, but as a discipline few attempts have been made to really understand its behaviour. In his book Michael does this very successfully, blending extensive practical experience with analytical thought leadership to propose a set of laws that explain why and how Operational Risks arise, and what can be done to manage them. Assertions are evidence based, with numerous real examples used to underpin his hypotheses. This is a valuable addition to Operational Risk thinking and is recommended for experienced professionals and novices alike.??? ??? Dr Luke Carrivick, Director of Research & Information, ORX ???Michael has established himself as one of Operational Risk???s foremost thinkers. His ability to use historical data to analyse events is unrivalled. In this must-read book, he identifies ten fundamental laws that provide every Operational Risk practitioner with a clear set of rules they can use to understand current events and predict their impacts.??? ??? Andrew Sheen, former Head of the FSA???s Operational Risk Review team ???Michael is one of the most prominent thinkers in Operational Risk. He combines a long career in Operational Risk management and measurement with a deep, long-standing reflection on the fundamental causes, dynamics and patterns in the manifestation of Operational Risk events. He produces, with this book, a remarkable synthesis of his insightful and innovative work.??? ??? Dr Ariane Chapelle, Honorary Reader, University College London; Managing Partner, Chapelle Consulting ???Michael is a highly respected expert in the field of Operational Risk, who has developed some ground-breaking frameworks for analysing this risk and guiding better risk management decisions. As a working practitioner in the field he brings many insights that will appeal to other practitioners as well as regulators, students and scholars.??? ??? Professor Elizabeth Sheedy, Macquarie Business School ???Michael???s views and analysis challenge the traditional Basel II views of Operational Risk and are genuinely thought-provoking. His book on the Ten Laws of Operational Risk will give financial services clarity and a practical view, where it has been previously lacking, on how best to manage such risks.??? ??? Tin Lau, Group Head of Financial and Strategic Risk, TP ICAP

Operational Risk Management

Author : Hong Institute of Bankers
Publisher :
ISBN 13 :
Total Pages : 256 pages
Book Rating : 4.:/5 (16 download)

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Book Synopsis Operational Risk Management by : Hong Institute of Bankers

Download or read book Operational Risk Management written by Hong Institute of Bankers and published by . This book was released on 2013 with total page 256 pages. Available in PDF, EPUB and Kindle. Book excerpt: A practical guide to identifying, analyzing and tackling operational risk in banks and financial institutions Created for banking and finance professionals with a desire to expand their management skill set, this book focuses on operational risk and operational risk events, as distinct from other types of functional risks. It was written by the experts at the world-renowned Hong Kong Institute of Bankers, an organization dedicated to providing the international banking community with education and training. Schools you in techniques for analyzing the operational risk exposure of banking institutions and assessing how operational risk impacts on other types of risk Provides expert guidance on how to design, plan and implement systems for operational risk management and quality control Describes a comprehensive approach to operational risk management that includes data collection, modeling and an overall risk management structure Shows you how to develop operational risk management solutions to help your company minimize losses without negatively impacting its ability to generate gains Offers expert guidance on various regulatory frameworks and how the latest Basel II and Basel III requirements impact a bank's operational risk management strategy and framework.

Operational Risk Assessment

Author : Brendon Young
Publisher : John Wiley & Sons
ISBN 13 : 0470745991
Total Pages : 456 pages
Book Rating : 4.4/5 (77 download)

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Book Synopsis Operational Risk Assessment by : Brendon Young

Download or read book Operational Risk Assessment written by Brendon Young and published by John Wiley & Sons. This book was released on 2010-12-03 with total page 456 pages. Available in PDF, EPUB and Kindle. Book excerpt: Operational risk assessment The Commercial Imperative of a More Forensic and Transparent Approach Brendon Young and Rodney Coleman “Brendon Young and Rodney Coleman's book is extremely timely. There has never been a greater need for the financial industry to reassess the way it looks at risk. [...] They are right to draw attention to the current widespread practices of risk management, which [...] have allowed risk to become underpriced across the entire industry.” Rt Hon John McFall MP, Chairman, House of Commons Treasury Committee Failure of the financial services sector to properly understand risk was clearly demonstrated by the recent 'credit crunch'. In its 2008 Global Stability Report, the IMF sharply criticised banks and other financial institutions for the failure of risk management systems, resulting in excessive risk-taking. Financial sector supervision and regulation was also criticised for lagging behind shifts in business models and rapid innovation. This book provides investors with a sound understanding of the approaches used to assess the standing of firms and determine their true potential (identifying probable losers and potential longer-term winners). It advocates a 'more forensic' approach towards operational risk management and promotes transparency, which is seen as a facilitator of competition and efficiency as well as being a barrier to fraud, corruption and financial crime. Risk assessment is an integral part of informed decision making, influencing strategic positioning and direction. It is fundamental to a company’s performance and a key differentiator between competing management teams. Increasing complexity is resulting in the need for more dynamic, responsive approaches to the assessment and management of risk. Not all risks can be quantified; however, it remains incumbent upon management to determine the impact of possible risk-events on financial statements and to indicate the level of variation in projected figures. To begin, the book looks at traditional methods of risk assessment and shows how these have developed into the approaches currently being used. It then goes on to consider the more advanced forensic techniques being developed, which will undoubtedly increase understanding. The authors identify 'best practice' and address issues such as the importance of corporate governance, culture and ethics. Insurance as a mitigant for operational risk is also considered. Quantitative and qualitative risk assessment methodologies covered include: Loss-data analysis; extreme value theory; causal analysis including Bayesian Belief Networks; control risk self-assessment and key indicators; scenario analysis; and dynamic financial analysis. Views of industry insiders, from organisations such as Standard & Poors, Fitch, Hermes, USS, UN-PRI, Deutsche Bank, and Alchemy Partners, are presented together with those from experts at the FSA, the International Accounting Standards Board (IASB), and the Financial Reporting Council. In addition to investors, this book will be of interest to actuaries, rating agencies, regulators and legislators, as well as to the directors and risk managers of financial institutions in both the private and public sectors. Students requiring a comprehensive knowledge of operational risk management will also find the book of considerable value.

Operational Risk Management

Author : Mark D. Abkowitz
Publisher : John Wiley & Sons
ISBN 13 : 0470256982
Total Pages : 292 pages
Book Rating : 4.4/5 (72 download)

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Book Synopsis Operational Risk Management by : Mark D. Abkowitz

Download or read book Operational Risk Management written by Mark D. Abkowitz and published by John Wiley & Sons. This book was released on 2008-04-04 with total page 292 pages. Available in PDF, EPUB and Kindle. Book excerpt: Operational Risk Management offers peace of mind to business and government leaders who want their organizations to be ready for any contingency, no matter how extreme. This invaluable book is a preparatory resource for when times are good, and an emergency reference when times are bad. Operational Risk Management is destined to become every risk manager?s ultimate weapon to help his or her organization survive ? no matter what.