- Inspires professionals to derive value out of operational risk management, rather than applying a compliance 'tick box' approach
- Guides the reader on how to establish effective solutions and avoid common pitfalls with frameworks, examples and diagrams
- Includes results from polls taken by risk practitioners which provide a snapshot of current practices and allow the reader to benchmark against other firms
- Offers clear advice on conducting Risk and Control Self-Assessment, designing Key Risk Indicators and creating operational risk reports
- Benefits from the author's 25 years of experience as an operational risk executive and international trainer
Operational Risk Management in Financial Services
A Practical Guide to Establishing Effective Solutions
Create real value from operational risk management rather than using a 'tick box' approach with this practical guide filled with frameworks, examples and industry poll results.
Key features at a glance
EAN: 9781789667080
Edition: 1
Published:
Format: 233x158
384 pages
About the book
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.
About the authors
Elena Pykhova is an operational risk executive specializing in strategy, design and implementation of firm-wide operational risk frameworks, based in London, UK. She is an experienced operational risk trainer, running public and in-house training courses in the UK and internationally for world-leading venues such as the London Stock Exchange Academy. She is founder of a think tank, Best Practice Operational Risk Forum, the Chair of the Operational Risk Expert Panel for the Association of Foreign Banks and the former Director for Education at the Institute of Operational Risk.
An insightful book and a highly engaging, practical and useful guide to operational risk management.
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