Operational Risk

Practical Approaches to Implementation

Publication Date	March 2005
Publisher	Risk Books
Product Type	Book
Pages	415
ISBN Number	1904339468
Product Code	RIS00332

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Summary

Edited by Ellen Leander Davis, the editor of Operational Risk magazine, this book collates the work of the leading experts in the field. There is no more up-to-date and authoritative title on this subject and anyone charged with implementing or understanding an operational risk management programme at a financial firm will find it essential reading. All the key issues, from loss data collection, to loss mitigation strategies are covered in this time-saving volume.

Highly practical focus explains operational risk regulatory matters and specifically aids you with the practical implementation of an operational risk programme in your organisation.
Provides easy access to the very latest thinking on Operational risk from the biggest names in the field including: Marco Moscadelli, Marcus Haas, Thomas Kaiser and Maurits Bakker.
Collates the latest, most influential and ground-breaking work recently published in, among others, Operational Risk magazine.
Makes it easy for first-timers to implement a regulatory compliance framework by providing an essential route-map that clearly shows you how to do this effectively and efficiently
Split into 4 easy access sections:
Loss data collection and modelling - offers a range of novel, practical approaches to solve the notoriously complex challenges associated with the collection and modelling of internal and external loss data.
Alternative measurement strategies - with detailed guidance on key risk indicators and scenario testing among other alternative tools, this section offers highly practical solutions informed by 'real life' situations.
Conceptualising operational risk management - all about turning operational risk measurement into action - this section will help you conceptualise your op risk approach and outline an effective implementation strategy.
Mitigation strategies - the ultimate goal of most operational risk strategies, here you will find a range of invaluable case-studies to provide a definitive assessment of the growing mitigation techniques available.

Content

Introduction
Ellen Davis, Incisive Media
Section 1: Loss Data Collection and Modelling
- 1 Using Transaction Data to Measure Operational Risk
  - Peter Hughes
  - OPRASS
- 2 Tail Dependency in Operational Risk Models
  - Ahraz Sheikh, John Gavin,
  - UBS Investment Bank
- 3 Correlation and Diversification Effects in Operational Risk Modelling
  - Antoine Frachot, Thierry Roncalli, Eric Salomon
  - Crdit Agricole
- 4 The Modelling of Operational Risk: Experience with the Analysis of the Data Collected by the Basel Committee
  - Marco Moscadelli
  - Bank of Italy
Section 2: Alternative Measurement Strategies
- 5 Quantifying Operational Risk within Banks According to Basel II
  - M. R. A. Bakker
  - Delft Institute of Applied Mathematics
- 6 A Foundation for KPI and KRI
  - Peter Vinella, Jeanette Jin
  - PVA International
- 7 Building Scenarios
  - Kenji Fujii
  - UFJ Holdings
- 8 The Risk Indicator Framework as a Tool for AMA Exposure Analysis
  - Martin Davies
  - Causal Events Pty Ltd
Section 3: Conceptualising Operational Risk Management
- 9 Model Behaviour
  - Christopher Viney
  - Deakin University
- 10 Prerequisites for Effective Operational Risk Management and Efficient Risk-based Decision Making
  - Marcus Haas; Thomas Kaiser
  - Frankfurt University; KPMG
- 11 An Operational Risk Management Framework
  - Gene ?lvarez
- 12 Aligning Basel II Operational Risk and Sarbanes-Oxley 404 Projects
  - Nick Bolton, Judson Berkey
  - UBS
- 13 Sarbanes-Oxley, Corporate Governance and Operational Risk
  - Alan D. Morrison
  - Sad Business School
Section 4: Mitigation Strategies
- 14 Managing Hedge Funds' Exposure to Operational Risks: Parts 1-3
  - Jean-Ren Giraud
  - Edhec-Risk Advisory
- 15 Reducing Risk through Insurance
  - Silke Brandts
  - Bain & Company
- 16 What is a Fair Price to Transfer the Risk of Unauthorised Trading? A Case Study on Operational Risk
  - Christopher M. Lewis; Yakov Lantsman
  - The Hartford Financial Services Group; Fitch Risk Management, Inc.