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Managing Operational Risk: 20 Firmwide Best Practice Strategies (Wiley Finance) Hardcover – 11 Jan 2002

5.0 out of 5 stars 3 customer reviews

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Product details

  • Hardcover: 576 pages
  • Publisher: John Wiley & Sons; 1 edition (11 Jan. 2002)
  • Language: English
  • ISBN-10: 0471412686
  • ISBN-13: 978-0471412687
  • Product Dimensions: 16.2 x 4.7 x 24.2 cm
  • Average Customer Review: 5.0 out of 5 stars 3 customer reviews
  • Amazon Bestsellers Rank: 1,460,474 in Books (See Top 100 in Books)
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Product description

From the Inside Flap

For today′s financial institutions, Managing Operational Risk has the essential business tools to design optimal risk management programs and put your company well ahead of the curve in the face of anticipated new regulatory standards and capital requirements. This definitive book by an international expert covers every aspect of managing operational risk, including operational risk definitions, data collection, risk assessment, modeling, insurance, and risk finance, as well as a comprehensive introduction to information technology.

The complete evolution of operational risk management is covered here, including guidelines for setting objectives consistent with a corporate vision, educating management and staff on how to deal with operational risks, coordinating operational risk management functions, outlining various approaches to risk assessment and measurement, and examining techniques for responding to operational risk. This book supplements its descriptions by presenting varied approaches to each of the 20 featured strategies along with alternative tools and tactics for program development, so you can decide which management systems are best for your company. The author goes well beyond the usual downside–only perspective on operational risk management to explore the upside benefits of an effective enterprise–wide program. Each chapter is generously supplemented with cases that illustrate proven techniques, and cautions against techniques that have not been successful. In addition, financial considerations are addressed, including developing economic capital and regulatory models, insurance and risk finance, as well as risk–adjusted performance measures.

With a concluding synopsis of chapter highlights and lessons learned for easy skimming and quick reference, this is an essential resource for operational risk managers as well as CEOs and CFOs at investment and commercial banks, brokerages, insurance companies, mutual fund companies, and their e–business affiliates and subsidiaries.

From the Back Cover

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."
–Mark Balfan
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."
–Simon Wills
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."
–Barbara Matthews
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

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on 6 June 2004
Format: Hardcover
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on 8 June 2006
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Amazon.com: 3.2 out of 5 stars 14 reviews
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4.0 out of 5 starsManaging operational risk
on 3 March 2012 - Published on Amazon.com
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5.0 out of 5 starsThe most balanced view in the industry
on 6 March 2002 - Published on Amazon.com
Format: Hardcover|Verified Purchase
1.0 out of 5 starsneeds to be updated
on 24 May 2013 - Published on Amazon.com
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2.0 out of 5 starsToo much and not enough!
on 6 August 2003 - Published on Amazon.com
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5.0 out of 5 starsTaking Operational Risk From Theory to Practice
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