Cover image for Improving Operational Risk Management.
Improving Operational Risk Management.
Title:
Improving Operational Risk Management.
Author:
van Grinsven, J.H.M.
ISBN:
9781607504207
Personal Author:
Physical Description:
1 online resource (237 pages)
Contents:
Title Page -- Table of contents -- Preface and Acknowledgements -- List of abbreviations -- Issues in Operational Risk Management -- Introduction -- Importance of operational risk management -- Benefits of operational risk management -- Difficulties and challenges in operational risk management -- Difficulties with loss data -- Difficulties with expert judgment -- Difficulties with techniques, technology and software tools -- Research objective -- Research Approach -- Research motivation and questions -- Research philosophy and strategy -- Research philosophy -- Research strategy -- Research instruments -- Literature review -- Case studies and action research -- Research design -- Research outline -- Literature Review -- Operational risk management -- Defining operational risk -- Dimensions of operational risk -- Management of operational risk -- Expert judgment -- Preparation -- Risk identification -- Risk assessment -- Risk mitigation -- Reporting -- Group support systems -- Patterns of group tasks -- GSS support capabilities -- GSS benefits and aspects -- Conclusions -- Operational Risk Management in Practice -- Bank Insure -- Work process -- Preparation phase -- Risk identification, assessment and mitigation phase -- Reporting phase -- Support -- Preparation -- Risk identification, assessment and mitigation -- Reporting -- Expert estimations -- Problems -- Starting points for improvement -- Multiple Expert Elicitation and Assessment -- Way of thinking -- View on operational risk management -- Nature of the design problem -- Position of the researcher -- Design guidelines -- Way of working -- Understanding phase -- Design phase -- Way of modeling -- Way of controlling -- Evaluation of MEEA -- Data sources -- Method of analysis -- Empirical Testing of Meea at Ace Insure -- Understanding Ace Insure -- Designing ORM processes for Ace Insure.

Results and discussion -- Learning moments -- Way of thinking -- Way of working -- Way of modeling -- Way of controlling -- Empirical Testing of Meea ot Inter Insure -- Understanding Inter Insure -- Designing ORM processes for Inter Insure -- Results and discussion -- Learning moments -- Way of thinking -- Way of working -- Way of modeling -- Way of controlling -- Epilogue -- Research findings -- Research question one -- Research question two -- Research question three -- Research question four -- Research -- Application domain -- Research approach -- Future research -- References -- Summary -- Samenvatting -- Curriculum vitae.
Abstract:
Operational risk is possibly the largest threat to financial institutions. The operational risk that financial institutions face has become more complex, more potentially devastating and more difficult to anticipate. Moreover, operational risk management is an essential part of the economic activities and economic development in financial institutions. The credit crunch indicates once more that operational risk does not lend itself to traditional risk management approaches. This is because almost all instances of operational risk losses result from complex and nonlinear interactions among risk and business processes. Mainly motivated by regulatory pressure, the volatility of today's marketplace and costly catastrophes many financial institutions focused their risk management efforts on operational risk management. In response to this, several initiatives have been taken to manage operational risk. However, due to difficulties with loss data, most of these initiatives focus on using expert judgment to provide the input to estimate the level of exposure to operational risk. Although these initiatives have helped financial institutions, the improvements which are made are not effective, efficient and satisfying. Therefore in this book the is focus on an alternative to improve operational risk management that is more effective, efficient and satisfying. A highly structured approach for operational risk management is prescribed and explained in this book. The approach can operate with scarce loss data and enables financial institutions to understand operational risk with a view to reducing it, thus reducing economic capital within the Basel II regulations.
Local Note:
Electronic reproduction. Ann Arbor, Michigan : ProQuest Ebook Central, 2017. Available via World Wide Web. Access may be limited to ProQuest Ebook Central affiliated libraries.
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