Operational Risk Management in Financial Services
Kogan Page Ltd (Verlag)
978-1-78966-708-0 (ISBN)
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Technology failures, data loss, issues with providers of outsourced services, misconduct and mis-selling are just some of the top risks that keep financial firms up at night. In this context effective operational risk management is, simply, a commercial necessity.
The management of operational risk, defined by the Basel Accord as arising from failures of processes, people, systems or external events, has developed considerably since its early years. Continued regulatory focus and catastrophic industry events have led to operational risk becoming a crucial topic on senior management's agenda. This book is a practical guide for practitioners which focuses on how to establish effective solutions and avoid common pitfalls.
Filled with frameworks, examples and diagrams, this book offers clear advice on key practices including conducting risk assessments, assessing change initiatives, designing key risk indicators, establishing scenario analysis, drafting appetite statements and carrying out risk reporting. Operational Risk Management in Financial Services also features results from polls taken by risk practitioners which provide a snapshot of current practices and allow the reader to benchmark themselves against other firms. This is the essential guide for professionals looking to derive value out of operational risk management, rather than applying a compliance 'tick box' approach.
Elena Pykhova is an operational risk executive specializing in strategy, design and implementation of firm-wide operational risk frameworks, based in London, UK. She is an experienced operational risk trainer, running public and in-house training courses in the UK and internationally for world-leading venues such as the London Stock Exchange Academy. She is founder of a think tank, Best Practice Operational Risk Forum, the Chair of the Operational Risk Expert Panel for the Association of Foreign Banks and the former Director for Education at the Institute of Operational Risk.
Chapter - 01: Operational risk - Definition and taxonomy;
Chapter - 02: Operational risk framework and its implementation;
Chapter - 03: The three lines of defence model - Its application to operational risk management;
Chapter - 04: Operational risk events;
Chapter - 05: Risk and control self-assessments;
Chapter - 06: Operational risk assessment of change initiatives;
Chapter - 07: Key risk indicators;
Chapter - 08: Scenario analysis;
Chapter - 09: Operational risk appetite;
Chapter - 10: Operational risk reporting;
Chapter - 11: Operational risk training and education;
Chapter - 12: Risk culture;
Chapter - 13: Embedding and maturity assessment;
Chapter - 14: Operational resilience;
Chapter - 15: Appendix 1 Operational Risk Champion - Role Description;
Chapter - 16: Appendix 2 Example operational risk event reporting template;
Chapter - 17: Appendix 3 ORA template;
Chapter - 18: Appendix 4 Table of 50 key risk indicators;
"An insightful book and a highly engaging, practical and useful guide to operational risk management."
"Understanding, mitigating and transferring operational risks is a critical part of building resilience. This book lays out best practice in a straightforward and practical way that should improve the ability of a critical sector to weather incidents and disruptions."
"Elena Pykhova teaches and writes in simple, clear and engaging language. As well as her lectures and classes, her book is a must-read for anyone willing to learn about practical and value-added operational risk management."
"A very practical, refreshingly enjoyable and lively read, covering all aspects of operational risk management. An essential guide for all individuals respon¬sible for implementing risk management practices in their organizations or those interested to stay current and improve their operational risk solutions."
"This outstanding book gives an excellent insight into the practical applica¬tion of operational risk management in financial services, an important topic in the current unprecedented environment. It offers sensible advice to practitioners."
"In a world that is growing ever more complex and uncertain, effective operational risk management in financial organizations is needed more than ever. This book offers many practical insights that can help operational risk professionals to overcome the unexpected and create value for their organizations."
"A must-read from one of the industry's leading figures that provides essential guidance for anyone involved in operational risk. By anchoring the chapters against a holistic operational risk management framework, the author enables readers to relate the contents to their own frameworks."
"Such an outstanding journey through the main topics of operational risk. This book develops critical thinking about predefined concepts of risk, provides remarkable new insights into the changing landscape and explores methods, approaches and practices that are very relevant nowadays."
"This book really brings operational risk to life, written by someone who has clearly spent time at the coal-face and fronted many of the challenges that operational risk professionals experience. While offering a comprehensive description of a classic framework, the author appraises the practical challenges of implementation rather than offering an academic or textbook solution, while also considering current themes such as FinTech, Covid and operational resilience. This is a thought-provoking read, whether you are starting your operational risk journey or are a seasoned operational risk professional."
"If you are in the business of managing operational risk or need to know how to deal with it, then read this book! It is well written, setting out how to work on and improve a firm's operational risk framework with easily understandable tools, methods of working and industry examples. Elena Pykhova has always been passionate about operational risk as a discipline and that passion really comes out in this book."
| Erscheinungsdatum | 22.06.2021 |
|---|---|
| Verlagsort | London |
| Sprache | englisch |
| Maße | 158 x 233 mm |
| Gewicht | 590 g |
| Themenwelt | Schulbuch / Wörterbuch ► Lexikon / Chroniken |
| Wirtschaft ► Betriebswirtschaft / Management ► Allgemeines / Lexika | |
| Wirtschaft ► Betriebswirtschaft / Management ► Finanzierung | |
| Betriebswirtschaft / Management ► Spezielle Betriebswirtschaftslehre ► Bankbetriebslehre | |
| ISBN-10 | 1-78966-708-9 / 1789667089 |
| ISBN-13 | 978-1-78966-708-0 / 9781789667080 |
| Zustand | Neuware |
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