- Explains the key components of an operational risk management framework and supporting governance structures
- Includes case studies of major operational risk events to illustrate key concepts, covering rogue traders, fraud and technology issues
- Covers operational risk tools including categorisation, risk and control self-assessment, scenario analysis, events and losses and operational risk indicators
- Explores the regulatory treatment of operational risk and how to create an effective risk culture
- Examines where operational risk fits in relation to other risk types and how this can create challenges
Fundamentals of Operational Risk Management
Understanding and Implementing Effective Tools, Policies and Frameworks
Grasp the key principles of managing operational risk and learn the value of ORM in protecting organizations from threats and losses.
Key features at a glance
EAN: 9781398605022
Edition: 1
Published:
Format: 240x172
320 pages
About the book
Threats to an organization's operations, such as fraud, IT disruption or poorly designed products, could result in serious losses. Understand the key components of effective operational risk management with this essential book for risk professionals and students.
Fundamentals of Operational Risk Management outlines how to implement a sound operational risk management framework which is embedded in day-to-day business activities. It covers the main operational risk tools including categorisation, risk and control self-assessment and scenario analysis, and explores the importance of risk appetite and tolerance.
With case studies of major operational risk events to illustrate each concept, this book demonstrates the value of ORM and how it fits with other types of risk management. There is also guidance on the regulatory treatment of operational risk and the importance of risk culture in any organization. Master the essentials and improve the practice of operational risk management with this comprehensive guide.
About the authors
Dr Simon Ashby is Associate Professor of Financial Services at Vlerick Business School, based in Brussels, Belgium. Prior to this he was Associate Professor at Plymouth Business School, UK and worked as a financial regulator and a senior risk manager in a number of top UK financial institutions. He is a Fellow and former Chairman of the Institute of Operational Risk (IOR) and a Senior Research Fellow at the Centre for Risk, Banking and Financial Services at the University of Nottingham.
The IRM is a world leading professional body for risk management, driving excellence in managing risk to ensure organizations are ready for opportunities and threats of the future.
It is becoming more and more clear that operational risk models are of limited use, while taking behavioural elements into account in risk culture, governance etc. is of tremendous importance. This book sets absolutely the right focus - and numerous case studies confirm that Simon is not just a seasoned academic, but very familiar with the important details of practical implementation as well. Really worthwhile reading!
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