Operational risk management in financial services: a practical guide to establishing effective solutions

By:

Pykhova, Elena

Material type: Text

TextPublication details: Kogan Page Ltd. London 2021Description: xix, 357 pISBN:

9781789667080

Subject(s):

DDC classification:

332.0681 PYK

Summary: About the book Technology failures, data loss, issues with providers of outsourced services, misconduct and mis-selling are just some of the top risks that keep financial firms up at night. In this context effective operational risk management is, simply, a commercial necessity. The management of operational risk, defined by the Basel Accord as arising from failures of processes, people, systems or external events, has developed considerably since its early years. Continued regulatory focus and catastrophic industry events have led to operational risk becoming a crucial topic on senior management's agenda. This book is a practical guide for practitioners which focuses on how to establish effective solutions and avoid common pitfalls. Filled with frameworks, examples and diagrams, this book offers clear advice on key practices including conducting risk assessments, assessing change initiatives, designing key risk indicators, establishing scenario analysis, drafting appetite statements and carrying out risk reporting. Operational Risk Management in Financial Services also features results from polls taken by risk practitioners which provide a snapshot of current practices and allow the reader to benchmark themselves against other firms. This is the essential guide for professionals looking to derive value out of operational risk management, rather than applying a compliance 'tick box' approach.

List(s) this item appears in: Operation & quantitative Techniques | HR & OB

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Holdings
Item type	Current library	Collection	Call number	Copy number	Status	Date due	Barcode
Book	Indian Institute of Management LRC General Stacks	Operations Management & Quantitative Techniques	332.0681 PYK (Browse shelf(Opens below))	1	Available		003694

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Previous	330.019 THA Nudge: improving decisions about health, wealth and happiness	330.1552 MEN Advanced Introduction to new institutional economics	332.0151922 ALO Malliavin calculus in finance:	332.0681 PYK Operational risk management in financial services:	332.1068 SUN Lean six sigma in banking services: operational and strategy applications for theory and practice	332.60285 VEL Algorithmic trading and quantitative strategies	332.64068 DIC Financial market operations management	Next

Table of content

Chapter - 01: Operational risk - Definition and taxonomy;Chapter - 02: Operational risk framework and its implementation;Chapter - 03: The three lines of defence model - Its application to operational risk management;Chapter - 04: Operational risk events;Chapter - 05: Risk and control self-assessments;Chapter - 06: Operational risk assessment of change initiatives;Chapter - 07: Key risk indicators;Chapter - 08: Scenario analysis;Chapter - 09: Operational risk appetite;Chapter - 10: Operational risk reporting;Chapter - 11: Operational risk training and education;Chapter - 12: Risk culture;Chapter - 13: Embedding and maturity assessment;Chapter - 14: Operational resilience;Chapter - 15: Appendix 1 Operational Risk Champion - Role Description;Chapter - 16: Appendix 2 Example operational risk event reporting template;Chapter - 17: Appendix 3 ORA template;Chapter - 18: Appendix 4 Table of 50 key risk indicators;

About the book
Technology failures, data loss, issues with providers of outsourced services, misconduct and mis-selling are just some of the top risks that keep financial firms up at night. In this context effective operational risk management is, simply, a commercial necessity.

The management of operational risk, defined by the Basel Accord as arising from failures of processes, people, systems or external events, has developed considerably since its early years. Continued regulatory focus and catastrophic industry events have led to operational risk becoming a crucial topic on senior management's agenda. This book is a practical guide for practitioners which focuses on how to establish effective solutions and avoid common pitfalls.

Filled with frameworks, examples and diagrams, this book offers clear advice on key practices including conducting risk assessments, assessing change initiatives, designing key risk indicators, establishing scenario analysis, drafting appetite statements and carrying out risk reporting. Operational Risk Management in Financial Services also features results from polls taken by risk practitioners which provide a snapshot of current practices and allow the reader to benchmark themselves against other firms. This is the essential guide for professionals looking to derive value out of operational risk management, rather than applying a compliance 'tick box' approach.

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