Operational Risk
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Product Description
Review
No. 8 besteller in ′Risk′ (erivativesreview.com, December 2001)
Product Description
Operational risk is emerging as the third leg of an institutional risk strategy for financial institutions. Now recognized as a potential source of financial waste, operational risk has become the subject of surveys, analysis, and the search for a comprehenvise set of definitions and a shared framework. Written by a leading expert on operational risk measurement, this important work puts forth a cradle–to–grave hands–on approach that concentrates on measurement of risk in order to provide the needed feedback for managing and mitigating it. Using both theoretical and practical material, he lays out a foundation theory that can be applied and refined for application in the financial sector and beyond which includes a new technique called Delta–EVT(trademark). This technique is a combination of two existing methods which provides for the complete measurement of operational risk loss. The book contains comprehensive step–by–step descriptions based on real–world examples, formulas and procedures for calculating many common risk measures and building causal models using Bayesian networks, and background for understanding the history and motivation for addressing operational risk.
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First Sentence
Operational risk represents the next frontier in improving shareholder value by reducing the amount of risk to the earnings of the firm. Read the first page
Front Cover | Copyright | Table of Contents | Excerpt | Index | Back Cover
Operational risk represents the next frontier in improving shareholder value by reducing the amount of risk to the earnings of the firm. Read the first page
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Front Cover | Copyright | Table of Contents | Excerpt | Index | Back Cover
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Customer Reviews
Most Helpful Customer Reviews
1 of 2 people found the following review helpful
Format:Hardcover
Actually I was quite disappointed. I did not expected it to be very quantitative but I think he is repeating himself all along. I'd rather have an idea explained once and clearly than 3 times, because at the 3 rd time I get bored and then I may miss something interesting. May be though he could not sell his book at such a price if it were shorter. Moreover, his approach to quant is more of a cooking receipe. I dont see the point of having a book with calculus without justification. Or you want it to be read by non quant and you don't put cooking receipe but only few numbers, or you want it to be more quanti and you don't put receipe but explanations. Anyway...it is a try on a non easy subject.
1 of 3 people found the following review helpful
Format:Hardcover
I couldn't recommend a better, more well written book on the subject of operational risk. It cuts right to the heart of exactly what is needed in the business world today - more responsible risk management that improves the bottom line as well. Tasked with the operational risk management responsibility in our organization, it seems clear to me that Dr. King's book is the definitive source for both practitioners like myself and academics (my former role). His ideas are thought provoking, provide a sound knowledge base, and build on our lessons learned from credit and market risk management. In the early days, too much precious time and resources were wasted on risk management activities that scratched only the surface. On behalf of myself and other risk management professionals, thank you Dr. King for your contribution of a sound framework for risk management measurement and modelling. I can assure you that we greatly look forward to your next book.
Most Helpful Customer Reviews on Amazon.com (beta)
Amazon.com:
5 reviews
7 of 9 people found the following review helpful
Disappointed
24 Aug 2001
Format:Hardcover
Actually I was quite disappointed. I did not expected it to be very quantitative but I think he is repeating himself all along. I'd rather have an idea explained once and clearly than 3 times, because at the 3 rd time I get bored and then I may miss something interesting. May be though he could not sell his book at such a price if it were shorter. Moreover, his approach to quant is more of a cooking receipe. I dont see the point of having a book with calculus without justification. Or you want it to be read by non quant and you don't put cooking receipe but only few numbers, or you want it to be more quanti and you don't put receipe but explanations. Anyway...it is a try on a non easy subject.
4 of 5 people found the following review helpful
Disappointing: Repeating the same idea all along
24 Jan 2002
Format:Hardcover
This book could be half of its actual size. The author states his ideas in the first part and then just repeat them all along in the second part. For example, there are two chapters on extreme value theory, one in the first part and the other on the second part both telling basically the same story (and both very simplistic by the way). Perhaps he thinks that by repeating the ideas the reader would catch his message. The part of the book that it is not pure repetition waste space with the "most famous operational losses" with no further analysis but just stating them. There is also no indication on the author's bio whether he has any real-life experience in operational risk to write a book on the subject. Hence, his ideas to measure and model OR might just not work at all. The industry is still waiting for a good book in operational risk.
3 of 4 people found the following review helpful
Waste of money. Already put mine on sale.
16 Feb 2002
Format:Hardcover
This is a very bad book. I wish I could have seen it before I bought it. I agree with the two reviewers that stated that this book is repetitive. I have already put mine on sale. At least I could use the money to buy a good operational risk book.
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