From Compliance to Improved Business Performance through Operational Risk Management (Strategic Focus)
- Published: November 2008
Operational Risk 2.0 looks beyond the implementation of Basel II, to how op risk executives can use the tools, intelligence and techniques at their disposal to better inform senior management and the board of directors about the challenges they face.
The discipline of operational risk is at a crossroads. Common questions currently asked include: How does the discipline add value to my organisation? What does the advanced measurement approach’s modelling techniques say about the op risks my firm is facing? What is the strategic role of operational risk my firm should adopt?
Operational Risk 2.0 is recommended for operational risk professionals assessing the development of both the discipline and their careers. This pioneering guide presents the current thinking on how operational risk will develop and provides you with practical techniques and advice on:
-Improving data and control self-assessment programmes;
-The relationship between op risk and an enterprise risk framework;
-Developing a value-adding op risk governance structure;
-Taking your firm’s AMA to the next evolutionary stage.
It will also help you to follow the lead of firms such as Lloyds TSB, JP Morgan and DBS, who are already embracing the use of improved management concepts and techniques. Real-life case studies help readers relate the concepts discussed to their own experiences and firm structures. Advice and insight from regulatory executives such as the US’s FDIC and Germany’s Bundesbank are also included.
This multi-contributor book consists of 15 chapters from a wide range of thought-leaders from around the world including Him Chuan Lim, Eric Holmquist, Johannes Voit, Jeremy Quick, and Ashish Dev. Each chapter addresses a particular subject with both theory and practical advice that you will be able to implement in your own firm.
Operational Risk 2.0 represents the logical next step in the evolution of operational risk management as a discipline. SHOW LESS READ MORE >
OpRisk & Compliance
PART I: WHERE IS OPERATIONAL RISK TODAY?
1 Operational Risk Management – The View from the Trenches
2 The Advanced Measurement Approach – Finishing It
Guernsey Financial Services Commission
3 Consistent Quantitative Operational Risk Measurement and
Regulation: Challenges of Model Specification, Data Collection
and Loss Reporting
Andreas A. Jobst
International Monetary Fund, Monetary and Capital Markets
PART II: EXTRACTING VALUE FROM THE AMA
4 Challenges in AMA Implementation: Finding a Balance
Between Regulatory and Internal Requirements
5 How to Create Value from Loss Data Pooling
Deutscher Sparkassen- und Giroverband
6 Beyond Regulatory Compliance – Deriving Value from
Operational Risk Data
Federal Deposit Insurance Corporation
7 Driving an Effective and Efficient Control Self-assessment
Lim Him Chuan
DBS Bank Ltd
PART III: OPERATIONAL RISK AND THE ENTERPRISE
8 Creating Value in ORM – a Business Line Perspective
9 Implementing a Practical ORM System in the Context of ERM
in an Era of Financial and Regulatory Convergence via Business
Guan Seng Khoo
Standard Chartered Bank
10 Delivering Value through Business Continuity Management
11 Operational Risk in Enterprise Risk Management
Andrew Brand, Mustafa Cavus
PART IV: UNLOCKING THE POTENTIAL OF EFFECTIVE CULTURE
12 Op Risk Governance: Sustaining the Importance of Operational
13 Operational Risk and Communication Conduits
Advanta Bank Corp.
14 The Role of Reputation Risk in ORM
Ernst & Young LLP
15 Leveraging Information Technology Governance for
Operational Risk Management
Ramakrishnan S. Kannan
Ellen Davis is the editor of OpRisk & Compliance magazine, based in London. Previously, she was an editor on Risk magazine, and the editor of AsiaRisk magazine and based in Hong Kong. She originally hails from New York City, where she had a long freelance career during which her work appeared in Treasury & Risk Management, Global Finance, BusinessWeek, CFO magazine, and a number of other financial publications. She holds a BA from Wellesley College and an MBA from New York University. Her first book as editor, Operational Risk: Practical Approaches to Implementation, was published in March 2005. Her second book as editor, The Advanced Measurement Approach to Operational Risk, was published in 2006.