Operational risk management : a complete guide for banking and fintech

Operational risk management a complete guide for banking and fintech

"Today, chief risk officers are finding themselves facing the daunting task of providing assurances to senior management and to board members that operational risks are being effectively managed and mitigated. Traditional market and credit risk approaches offer only partial effectiveness in the...

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Detalles Bibliográficos
Otros Autores: Girling, Philippa, author (author)
Formato: Libro electrónico
Idioma:Inglés
Publicado: Hoboken, New Jersey : John Wiley & Sons, Inc [2022]
Edición:2nd ed
Colección:Wiley Finance
Materias:
Risk management.
Ver en Biblioteca Universitat Ramon Llull:https://discovery.url.edu/permalink/34CSUC_URL/1im36ta/alma991009657356906719
Tabla de Contenidos:
  • Cover
  • Title Page
  • Copyright Page
  • Contents
  • Preface
  • Acknowledgments
  • Chapter 1 Definition and Drivers of Operational Risk
  • The Definition of Operational Risk
  • 2012 London Olympics: A Case Study
  • Test One: Do the Seven Basel Operational Risk Categories Work in the Real World?
  • Test Two: The Risk Management Tools
  • Operational Risk Management and Operational Risk Measurement
  • Operational Risk Management
  • Operational Risk Measurement
  • The Relationship between Operational Risk Management and Other Risk Types
  • Drivers of Operational Risk Management
  • Key Points
  • Review Questions
  • Notes
  • Chapter 2 The Regulatory Push
  • History of the Basel Accords
  • Rules of the Accords
  • Basel I
  • Basel II
  • Adoption of Basel II in Europe
  • Adoption of Basel II in the United States
  • Securities and Exchange Commission Amendments to the Net Capital Rule
  • U.S. Regulators' Adoption of New Regulations to Apply Basel II
  • Impact of the Financial Crisis
  • The Limitations of Basel II
  • European Response to the Crisis
  • U.S. Response to the Crisis
  • Basel III
  • Key Points
  • Review Questions
  • Notes
  • Chapter 3 The Operational Risk Framework
  • Overview of the Operational Risk Framework
  • The Foundations of the Framework
  • Governance
  • Culture and Awareness
  • Policies and Procedures
  • The Four Data Building Blocks
  • Loss Data Collection
  • Risk and Control Self-Assessment
  • Scenario Analysis
  • Key Risk Indicators
  • Measurement and Modeling
  • Reporting
  • Risk Appetite
  • Key Points
  • Review Questions
  • Note
  • Chapter 4 Operational Risk Governance
  • Role of Governance
  • First Line of Defense
  • Second Line of Defense
  • Who Should Own the Operational Risk Function?
  • What Should the Operational Risk Function Own?
  • Third Line of Defense
  • Audit
  • Validation
  • Risk Committees
  • Key Points.
  • Review Questions
  • Notes
  • Chapter 5 Culture and Awareness
  • Winning over the Firm
  • Marketing and Communication
  • Agile
  • Training
  • Planning
  • The "Use Test"
  • Key Points
  • Review Question
  • Note
  • Chapter 6 Policies and Procedures
  • The Role of Policies, Procedures, Guidelines, and Standards
  • Best Practices
  • Operational Risk Policy
  • Sample Operational Risk Policy
  • Sample Standards, Procedures, and Guidelines
  • Extract from a Loss Data Standards Document
  • Extract from a Loss Data Procedures Document
  • Extract from a Loss Data Guidelines Document
  • Linkage between Documents
  • Key Points
  • Review Question
  • Note
  • Chapter 7 Internal Operational Risk Event Loss Data
  • Operational Risk Event Data
  • Internal Loss Data or Internal Operational Risk Events
  • Why Collect Operational Risk Event Data?
  • Who Should Collect the Operational Risk Event Data?
  • What Should Be Collected in the Operational Risk Event Data Program?
  • Risk Event Categories
  • Internal Fraud
  • External Fraud
  • Employment Practices and Workplace Safety
  • Clients, Products, and Business Practices
  • Damage to Physical Assets
  • Business Disruption and System Failures
  • Execution, Delivery, and Process Management
  • Using the Basel Risk Categories
  • Minimum Operational Risk Event Data Standards
  • Comprehensive
  • Threshold
  • Amount
  • Date
  • Description and Causes
  • Criteria for Allocation to Business Line
  • Criteria for Allocation to Central and Supporting Functions
  • All Impacted Departments
  • Boundary Events Identified
  • Action Items
  • Nonfinancial Impacts
  • Where Should Operational Risk Event Data Be Collected?
  • When Should Operational Risk Event Data Be Collected?
  • How Should Operational Risk Event Data Be Collected?
  • Key Points
  • Review Questions
  • Notes
  • Chapter 8 External Loss Data
  • External Operational Risk Event Data.
  • Sources of External Loss Event Data
  • Subscription Databases
  • Consortium Data
  • Challenges of External Data
  • Société Générale and the External Event That Shook the Operational Risk World
  • Key Points
  • Review Question
  • Notes
  • Chapter 9 Key Risk Indicators
  • Key Risk Indicators
  • Key Performance Indicators
  • Key Control Indicators
  • Metric Types
  • Selecting Kris
  • Thresholds
  • Kri Standards
  • Kri Challenges
  • Metrics Examples
  • People Metrics
  • Compliance Metrics
  • Technology and Infrastructure Metrics
  • Business Continuity Metrics
  • Client Metrics
  • Trade Execution and Process Management Metrics
  • Financial Statement Metrics
  • Key Points
  • Review Question
  • Note
  • Chapter 10 Risk and Control Self-Assessments
  • The Role of Assessments
  • Control Assessments
  • Risk and Control Assessments
  • RCSAs
  • RCSA Methods
  • Questionnaire Approach
  • Workshop Approach
  • Hybrid RCSA Methods
  • RCSA Scoring Methods
  • Scoring Control Effectiveness
  • Risk Impact Scores
  • Probability or Frequency
  • Risk Severity
  • RCSA Best Practices
  • Interview Participants Beforehand
  • Review Available Background Data from Other Functions
  • Review Past RCSAs and Related RCSAs
  • Review Internal Loss Data
  • Review of External Events
  • Carefully Select and Train Participants
  • Document Results
  • Score Appropriately
  • Identify Mitigating Actions
  • Implement Appropriate Technology
  • Ensure Completeness Using Taxonomies
  • Themes Identified
  • Leverage Existing Assessments
  • Schedule Appropriately
  • Backtest or Validate Results
  • Key Points
  • Review Question
  • Note
  • Chapter 11 Scenario Analysis
  • Role of Scenario Analysis
  • Scenario Analysis Approaches
  • (a) A Clearly Defined and Repeatable Process
  • (b) Background Preparation
  • (c) Qualified and Experienced Facilitators with Consistency in the Facilitation Process.
  • (d) The Appropriate Representatives
  • (e) A Structured Process for the Selection of Data
  • (f) High-Quality Documentation Which Provides Clear Reasoning and Evidence Supporting the Scenario Output
  • (g) Independent Challenge and Oversight
  • (h) A Process That Is Responsive to Changes
  • (i) Mechanisms for Mitigating Biases
  • Scenario Analysis Output
  • Key Points
  • Review Questions
  • Notes
  • Chapter 12 Capital Modeling
  • Operational Risk Capital
  • Basic Indicator Approach
  • Standardized Approach
  • Alternative Standardized Approach
  • Future of the Basic and Standardized Approaches
  • Advanced Measurement Approach
  • Quantitative Requirements of an AMA Model
  • Loss Distribution Approach to Modeling Operational Risk Capital
  • Scenario Analysis Approach to Modeling Operational Risk Capital
  • Hybrid Approach to Modeling Operational Risk Capital
  • Insurance
  • Future of Capital Requirements: Basel III
  • Basel III Standardized Approach
  • Disclosure
  • Key Points
  • Review Questions
  • Notes
  • Chapter 13 Reporting
  • Role of Reporting
  • Operational Risk Event Reporting
  • Impact of Gains on Internal Event Reporting
  • Trends in Internal Losses
  • Internal Losses by Risk Category
  • Timeliness
  • External Loss Data Reporting
  • Risk and Control Self-Assessment Reporting
  • Key Risk Indicator Reporting
  • Scenario Analysis Reporting
  • Capital Reporting
  • Action Tracking Reporting
  • A Consolidated View
  • Dashboards
  • Key Points
  • Review Question
  • Chapter 14 Risk Appetite
  • The Role of Risk Appetite
  • Regulatory Expectations
  • Implementing a Risk Appetite Framework
  • The Risk Appetite Framework as a Strategic Decision-Making Tool
  • Appetite Governance: The Board, "C-Suite," and Business Lines
  • Promoting a Firmwide Risk Appetite Framework
  • Monitoring the Firm's Risk Profile within the Risk Appetite Framework.
  • Monitoring Operational Risk Appetite
  • Risk Capacity
  • Operational Risk Appetite
  • Operational Risk Tolerance
  • Operational Risk Limits/Indicators
  • Risk Appetite Today
  • Key Points
  • Review Question
  • Notes
  • Chapter 15 Reputational Risk and Operational Risk
  • What Is Reputational Risk?
  • Reputational Impact
  • Global COVID-19 Pandemic
  • Banking and Fintech Scandals
  • Stock Price Impacts
  • Regulatory Oversight of Reputational Risks
  • Reputational Risk Management Framework
  • Drivers
  • Governance
  • Event Data Collection
  • RCSA
  • Key Risk Indicators
  • Scenario Analysis
  • Reporting
  • Key Points
  • Review Question
  • Notes
  • Chapter 16 Operational Risk and Convergence
  • Operational Risk as a Catalyst for Convergence
  • Governance, Risk, and Compliance (GRC)
  • Assessment Convergence
  • Convergence of Metrics
  • Converged or GRC Reporting
  • GRC Tools
  • Key Points
  • Review Question
  • Notes
  • Chapter 17 Best Practices in Related Risk Management Activities
  • New-Product Approval
  • Supplier and Third-Party Risk Management
  • Legal Risk Management
  • Legal Considerations in the Operational Risk Framework
  • Capturing Legal Risks Using the Operational Risk Framework
  • Regulatory Risk Management
  • People Risk Management
  • Fraud Risk Management
  • Technology Risk Management
  • Climate Risk
  • Pandemic Planning
  • Strategic Risk
  • Key Points
  • Review Question
  • Notes
  • Chapter 18 Case Studies
  • JPMorgan Whale: Risky or Frisky?
  • Review Questions
  • Notes
  • Appendix: Answers to Review Questions
  • Chapter 1
  • Chapter 2
  • Chapter 3
  • Chapter 4
  • Chapter 5
  • Chapter 6
  • Chapter 7
  • Chapter 8
  • Chapter 9
  • Chapter 10
  • Chapter 11
  • Chapter 12
  • Chapter 13
  • Chapter 14
  • Chapter 15
  • Chapter 16
  • Chapter 17
  • Chapter 18
  • Notes
  • About the Author
  • About the Website
  • Index
  • EULA.

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