Editorial Reviews
Book Description
A comprehensive and innovative look at how to protect financial institutions from operational risks
Operational risk is the risk associated with human error, systems failures, and inadequate controls and procedures in information systems or internal controls that will result in an unexpected loss. According to a recent survey, about seventy percent of banks consider operational risk as important as market or credit risks. Nearly a quarter of the same banks admit to operation-related losses of more than $1.6 million-many cases are so embarrassing that banks will not actually admit any error on their part. Firms are just beginning to develop their own operational risk management systems and they need guidance on how to do it. This book will help them identify, measure, and manage their operational risks.
Christopher Marshall (Singapore) is Associate Director of the Center for Financial Engineering at the National University of Singapore. He has written numerous articles in Risk magazine and Harvard Business School cases.
Book Info
A complete and systematic approach to risk management for any business, offering a contingent approach with more detail than traditional functional approaches. Explains how to use loss data to model the most significant losses and use that to assess risks, as well as how to aggregate risk over the entire business. DLC: Asset-liability management.
Measuring and Managing Operational Risks in Financial Institutions : Tools, Techniques, and other Resources (Wiley Frontiers in Finance),Christopher Lee Marshall,John Wiley & Sons,0471845957,Accounting - General,Asset-liability management,Banks & Banking,Business & Economics,Business / Economics / Finance,Business/Economics,Corporate Finance,Finance,Financial Institutions,Financial services industry,Investments & Securities - General,Management,Risk management,Business & Economics / Finance,Operational research,Risk assessment & analysis for business
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