Operational Risk Management
A Complete Guide to a Successful Operational Risk Framework
Published on 17. September 2013
352 pages
978-1-118-74478-9 (ISBN)
Description
A best practices guide to all of the elements of an effective operational risk framework
While many organizations know how important operational risks are, they still continue to struggle with the best ways to identify and manage them. Organizations of all sizes and in all industries need best practices for identifying and managing key operational risks, if they intend on exceling in today's dynamic environment.
Operational Risk Management fills this need by providing both the new and experienced operational risk professional with all of the tools and best practices needed to implement a successful operational risk framework. It also provides real-life examples of successful methods and tools you can use while facing the cultural challenges that are prevalent in this field.
* Contains informative post-mortems on some of the most notorious operational risk events of our time
* Explores the future of operational risk in the current regulatory environment
* Written by a recognized global expert on operational risk
An effective operational risk framework is essential for today's organizations. This book will put you in a better position to develop one and use it to identify, assess, control, and mitigate any potential risks of this nature.
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Philippa X. Girling
Operational Risk Management
A Complete Guide to a Successful Operational Risk Framework
Book
11/2013
Wiley
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Person
PHILIPPA X. GIRLING has nineteen years of experience inthe global securities industry, working in the fields ofoperational risk, training, project management, and organizationalchange. She currently serves as Business Chief Risk Officer forCapital One Commercial Bank. Over her career, Girling has heldseveral operational risk leadership roles, including heading theglobal corporate operational risk functions at Morgan Stanley andNomura. Most recently, she has focused on operational risktraining, teaching in the operational risk executive educationprogram at Columbia University, and leading operational riskeducation sessions for the London Business School, RutgersUniversity, and Carnegie Mellon. Having established a globalreputation as an operational risk expert, Girling was selected asone of the "top 50 faces of operational risk" by OperationalRisk and Regulation magazine. She holds an English law degreefrom the University of East Anglia, England, and is a member of theNew York State Bar Association. She is a holder of the GARPFinancial Risk Manager accreditation and is a doctoral candidate atRutgers University.
Content
Preface ix
Acknowledgments xi
Chapter 1 Definition and Drivers of Operational Risk 1
Chapter 2 The Regulatory Push 15
Chapter 3 The Operational Risk Framework 33
Chapter 4 Operational Risk Governance 41
Chapter 5 Culture and Awareness 63
Chapter 6 Policies and Procedures 77
Chapter 7 Internal Loss Data 89
Chapter 8 External Loss Data 121
Chapter 9 Business Environment Internal Control Factors: Key Risk Indicators 141
Chapter 10 Risk and Control Self-Assessments 155
Chapter 11 Scenario Analysis 173
Chapter 12 Capital Modeling 189
Chapter 13 Reporting 219
Chapter 14 Risk Appetite 237
Chapter 15 Reputational Risk and Operational Risk 255
Chapter 16 Operational Risk and Convergence 269
Chapter 17 Best Practices in Related Risk Management Activities 281
Chapter 18 Case Studies 291
Appendix: Answers to Review Questions 309
About the Author 317
About the Website 319
Index 321
