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Kogan Page

Operational Risk Management in Financial Services: A Practical Guide to Establishing Effective Solutions

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Description

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. Read more

Publisher ‏ : ‎ Kogan Page; 1st edition (July 27, 2021)


Language ‏ : ‎ English


Paperback ‏ : ‎ 384 pages


ISBN-10 ‏ : ‎ 1789667089


ISBN-13 ‏ : ‎ 80


Item Weight ‏ : ‎ 1.3 pounds


Dimensions ‏ : ‎ 6.22 x 0.79 x 9.17 inches


Best Sellers Rank: #519,853 in Books (See Top 100 in Books) #79 in Risk Management (Books) #208 in Financial Risk Management (Books) #386 in Banks & Banking (Books)


#79 in Risk Management (Books):


#208 in Financial Risk Management (Books):


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Top Amazon Reviews

    • A MUST HAVE BOOK!
Review Image by Carlos Jose Rangel Shartun Carlos Jose Rangel Shartun
Elena captures the essence of Operational Risk Management on her book, from foundational concepts she builds up in reference to how a Operational Risk Management Framework operates, I found extremely useful and eye opening her explanation about roles and responsibilities of 1st and 2nd line adding clarity to the existing blurred line, in addition to the core content, Elena also goes above and beyond recommending complementary reading that adds up to her book content. Excellent referential text for Operational Risk Management practitioner, a must have with no doubt. ... show more
Reviewed in the United States on May 1, 2023 by Carlos Jose Rangel Shartun Carlos Jose Rangel Shartun
    • One of the best guide books for an Operational Risk professional!
This is one of the best guide books for all Operational Risk professionals out there, trying to strengthen and build up their knowledge on Risk Management. The author made it easier to understand the complex facets and provided concrete examples/cases. Given years in this field, this book helped me gain more appreciation with the usual tasks I am conducting. I will definitely recommend this book to anyone who wants to have a good read. ... show more
Reviewed in the United States on January 25, 2022 by B. Asuncion
    • Excellent resource!!
Excellent resource for operational risk practitioners! Simple, practical and easy to follow.
Reviewed in the United States on June 21, 2022 by Priya Balkissoon
    • The best book written, in my opinion, for operational risk
This is the book that, in my opinion, everyone who works in the area of operational risk, should read. The author shares generously her extensive experience in global systemically important banks to help the reader understand in detail operational risk. The book covers almost every aspect of operational risk and contains solutions and implementations about: risk taxonomy, 3 levels of defence, risk events (from identification to root cause analysis), RCSAs, risk assessments, KRIs, risk scenario analysis, risk appetite, risk reporting, risk training, risk culture, maturity assessments and operational resilience. The book is easily readable, eloquent, clear, coherent and involves no math. At the beginning, a blueprint of a risk governance framework is given. What I liked most about the book was: - The large number of citations to frameworks,interesting articles and regulations - The results of industry studies that can be used as a means of benchmarking - The best case practices and common challenges, as well as the reflective questions that are cited at the end of every chapter, which summarises the main ideas. Above all, it is a book that will really make the reader think and will give him/her tons of new and out-of-the box ideas. I highly recommend it. ... show more
Reviewed in the United States on November 25, 2021 by Michail Makrodimitris

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