Fundamentals of Operational Risk Management

Understanding and Implementing Effective Tools, Policies and Frameworks

Simon Ashby

• Verlag: Kogan Page
• Jahr: 2022
• ISBN:
  9781398605039
• Auflage: 1
• Thema: Business
• Thema: Insurance

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.

INDEX

The index is filed in alphabetical, word-by-word order. Acronyms are filed as presented. Numbers are filed as spelt out, with the exception of Basel Accords and ISO Standards, which are filed in chronological order. Page locators in italics denote information within tables and figures; those in roman numerals denote information within the preface.

absolute risk indicators 207, 217

acquisitions 81

action plans 24, 154, 159, 167, 170, 179, 184, 189, 222, 240

adaptive capabilities 265–68, 269, 270

see also response and adaption phase (resilience)

Aisin Seiki 180, 181, 255, 259

anchoring effect 95

annual reviews 123, 147

anticipation 253, 256, 257, 260, 266, 270

appraisals 80

assumptions 67, 68, 253–54

asymmetric information problem 276–77, 286

attitudes 66, 68, 70, 73, 75, 77

audit 135, 139, 201

see also internal audit

audit committees 41, 100, 129–30, 193, 213, 244

automation 32, 81, 145, 166, 200, 211, 216

balanced scorecard approach 40–41

Bank of Credit and Commerce International 2

Barclays (Barclays Capital) 64–65, 79

‘Barclays Way’ 79

Barings Bank 2, 15

Basel II (2) Accord 2, 8, 15, 56, 245, 279, 280

Basel III Accord 279, 280

Basel Accords xi, 2, 8, 15, 56, 278–81

Basel Committee on Banking Supervision (BCBS) 2, 8, 10, 15, 49, 50–53, 58–59, 278–81

baseline assessment 39

basic indicator approach 280

behavioural risk 101, 109, 121

belie...

Inhaltsverzeichnis

• About the author
• Foreword
• Preface
• Acknowledgements
• 01 Understanding operational risk: key concepts and management objectives
• 02 Embedding operational risk management
• 03 Categorizing operational risks
• 04 Risk culture
• 05 Risk appetite
• 06 Operational risk governance
• 07 Risk and control self-assessments
• 08 Operational loss events
• 09 Operational risk indicators
• 10 Scenario analysis and stress testing
• 11 Organizational resilience
• 12 Regulating operational risk
• Index