Overview

Sergio Scandizzo has updated and expanded The Operational Risk Manager's Guide in light of the 2007-9 crisis. The credit losses incurred have been exposed as primarily governance and operationally driven. In other words, credit losses were caused by failures in the governance of risk or in risk management operational standards. Increasingly as they recognize this banks and supervisors are looking to strengthen the risk management process. With the need to pay close attention to the oversight of risk management and to risks like liquidity, reputation, governance and extreme scenarios (fat tails), there is a need for operational risk managers to step up to the mark. Operational risk managers have the natural firm-wide outlook necessary to bring these risks into their remit. The updates to The Operational Risk Manager's Guide delivers practical information on how the operational risk manager's role has expanded since the 2007-9 crisis and how to manage these new responsibilities. The Operational Risk Manager's Guide, Second Edition leads you step-by-step through the key practices and responsibilities of being an operational risk manager. As the reader you are presented with a set of typical scenarios and shown how to manage these pressing demands and take strategic decisions. Written in an authoritative and engaging style Scandizzo covers the challenges and issues commonly faced by op risk professionals, such as measurement and reporting, policy, infrastructure, developing relationships with other groups within the bank, recruitment, training, control and mitigation of operational risk. This new Executive Report builds on the coverage of the best-selling first edition, with expanded coverage and additional chapters that address: * The impact of the crisis and the limitations of existing tools and techniques * The increased importance of scenario analysis and stress testing * The key role of operational risk in ensuring the integrity of the risk management process * The importance of the new product approval process * The pivotal role of the AMA approach Written exclusively from the perspective of an operational risk manager, the focus of this Executive Report is always on describing practical ways to get the job done, backed up with real-life examples of everything that is discussed. It provides you with a solid understanding of the tools and techniques of identifying, managing, reporting and monitoring operational risk. The Executive Report looks at current developments affecting the role of the op risk manager including new regulatory recommendations, validation of risk models, risk management oversight, capital measurement and allocation, and concluding with an assessment of how the op risk manager's role is likely to evolve over the next 10 years. This concise, practical Executive Report talks to practitioners in their own language with plenty of identifiable examples of day-to-day scenarios. This is essential reading not only for operational risk managers and analysts but also management consultants, internal and external auditors and compliance officers looking to move into this area or needing to learn more about the operational risk manager's role.

Full Product Details

9781906348441

Table of Contents

Reviews

This is a clear and well-researched book covering all aspects of Operational Risk Management. It throws a valuable new light on the limits of risks governance, the role and the failures of risk management as well the tools and techniques used to better understand the risks one should take care off. It is a required reading for risk managers and all concerned with the management of risks in general. Bernard Tschupp, Head of Compliance and Operational Risk, Bank for International Settlements The Operational Risk Manager's Guide has proven to be one of the more practical publications on the topic of operational risk management. Mr Scandizzo's approach to identifying key risk indicators bridges a gap too often found in theoretical frameworks - getting to the heart of the issue, while providing the tools to ensure that senior management and Boards of Directors receive practical information on which they can act. In addition he achieves an integrated view of how the various role players in the risk management and control process can work together to ensure a coordinated approach, breaking down the silo approaches of past practices. Hennie van Greuning, CFA, Senior Advisor: World Bank Treasury (2002-2009), Independent Non-Executive Director, FirstRand Bank Much has been said about risk management in recent months, but not all of it has been constructive contribution. So it is a pleasure to see this 2nd edition of a thoroughly practical book, written by a common sense practitioner. Written in an engaging style, this is the sort of book I recommend to colleagues looking for practical insights into how operational risk can become part of a well thought out business. Based on sound research, it seeks to inform and assist and not simply to impress. Michael May Deputy Global Head of Risk Management | HSBC Securities Services

Author Information

Sergio Scandizzo Sergio Scandizzo is the author of The Operational Risk Manager's Guide, now in its second edition, and of Validation and Use Test in AMA, both published by Risk Books. Sergio was also a contributing author to the award-winning Risk Books title Advanced Measurement Approach to Operational Risk, edited by Ellen Davis. He is also Associate Editor of The Journal of Operational Risk and the author of several journal papers on fuzzy logic, genetic algorithms and risk management. Sergio is currently Deputy Advisor at the European Investment Bank (EIB) in Luxembourg. Prior to his position at the EIB he was a principal in the London office of PricewaterhouseCoopers and, prior to that, a senior manager of the Operational Risk Group at the Canadian Imperial Bank of Commerce in Toronto. He holds degrees in computer science and finance.

Tab Content 6

Customer Reviews

Recent Reviews

Countries Available