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Managing Operational Risk: 20 Firmwide Best Practice Strategies

ISBN: 978-0-471-41268-7
576 pages
January 2002
Managing Operational Risk: 20 Firmwide Best Practice Strategies (0471412686) cover image

Description

Published in association with the Global Association of Risk Professionals
As e-commerce and globalization continue to expand, so does the level of operational risk, increasing the need for guidance on how to measure and manage it. This is the definitive guide to managing operational risk in financial institutions. Written in a concise, no-nonsense style, and containing numerous real-life case studies, it covers all the bases from the basics of what operational risk is to how to design and implement sophisticated operational risk management systems. Readers will appreciate the up-to-the-minute coverage of the latest techniques and practices to manage operational risk. They will learn how to enhance their positions in the face of anticipated new regulatory standards and capital requirements.
Douglas G. Hoffman (Fairfield, CT) is an independent consultant in operational risk management. His firm, Operational Risk Advisors, provides executive training and assists financial institutions and corporate clients worldwide in operational risk analysis and mitigation.
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Table of Contents

Introduction.

Operational Risk Management 101: An Executive Summary.

The Best Practice Strategies.

What is Operational Risk?

The Real Opportunity: Creating More Effective Companies.

Operational Risk and Market Perception: Franchise, Reputation, and Brand Risk.

The Enterprise-Wide Framework: Corporate Governance, Mandate, and Roles.

The Operational Risk Management Group.

Risk Response Framework and Strategies.

Risk Assessment Strategies.

Database and Consortia: Working Through the Details.

Risk Indicators and Scorecards: Cornerstones for Operational Risk Monitoring.

Operational Risk Analysis and Measurement: Practical Building Blocks.

Dynamic Risk Profiling and Monitoring.

Insurance and Operational Risks: Aligning Conventional Programs.

Operational Risk Finance: The Re-Engineering Process.

Economic Risk Capital Modeling: Allocation and Attribution.

Regulatory Capital and Supervision.

An Operational Risk Management Case Study: Managing Internet Banking Risk.

Operational Risk Technology and Systems.

The Game Plan and Action Steps.

Additional Readings.

Operational Risk Management: Bibliography of Sources.

Endnotes.

Index.
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Author Information

DOUGLAS G. HOFFMAN is an independent consultant specializing in operational risk management. His firm, Operational Risk Advisors, assists financial institutions and corporate clients worldwide in operational risk assessment, analysis, and response, as well as in the design, development, enhancement, and review of risk capital models and risk finance and insurance programs. During his career as a Managing Director at Bankers Trust, and then as CEO of a Web-based technology firm, teams under his lead were credited as pioneers in developing some of the first operational risk-based capital models, databases, operational risk finance and insurance programs, and technology in the industry.
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