Managing Operational Risk: 20 Firmwide Best Practice Strategies
Details of the 20 best management strategies for operational risk
"Finally, we have a comprehensive, practical tool for operational risk. This book covers all critical aspects of operational risk, from simply how to get started to the complex modeling of the risk. The case studies are especially useful."
Senior Vice President and Group Head, Corporate Risk Management
Bank of Tokyo Mitsubishi
"Doug Hoffman was in the business of managing operational risk before most and it shows. His book is both comprehensive and to the point-a tough combination to achieve."
Director, British Bankers' Association
"Operational risk has become a central issue in the management of enterprise risk and for capital adequacy standards for financial institutions. Doug Hoffman is among the very few pioneers in developing an understanding of operational risk, the discipline of operational risk management, and related capital attribution standards for economic and regulatory capital. This book will become a reference work for the financial services industry and financial regulators."
-George J. Vojta
Director, Financial Services Forum
"In a quickly evolving area, this book provides a balanced and thorough discussion of the variety of approaches a bank can use to establish a risk management and measurement system for operational risk. The book presents a solid conceptual analysis of the issues to consider, paired with practical guidance."
Banking Advisor and Regulatory Counsel, The Institute of International Finance, Inc.
Managing Operational Risk is the answer for executives and operational risk managers of financial firms who want to establish the best policies for bridling operational risk at a firmwide and enterprise-wide level. The techniques and practices presented here include:
* Dynamic risk monitoring and reporting-implement a continuum of data and risk tools for effective identification, assessment, mitigation, and finance
* Risk assessment, modeling, and risk-adjusted performance measures-calculate, monitor, and manage the effects of operational losses on firmwide and business unit levels
* Operational risk technology and systems-ensure program efficiency by leveraging technology in enterprise-wide data gathering
* Market perception-develop a plan and ongoing discipline for protecting corporate integrity and managing crises that may impact a firm's reputation, brand, or franchise
* Insurance and risk finance programs-design, evaluate, and fine-tune insurance and developing financial programs for operational risks