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Operational Risk Management – A Complete Guide for Banking and Fintech, Second Edition: Wiley Finance

Autor P Girling
en Limba Engleză Hardback – 16 feb 2022
Identify, assess, and mitigate operational risk with this practical and authoritative guide In the newly revised second edition of Operational Risk Management: A Complete Guide for Banking and Fintech, accomplished risk executive and expert Philippa Girling delivers an insightful and practical exploration of operational risk in organizations of all sizes. She offers risk professionals and executives the tools, strategies, and best practices they need to mitigate and overcome ever-present operational risk challenges that impact business in all industries. This latest edition includes: * Insight into how operational risk can be effectively managed and measured in today's digital banking age. * Updates on the latest regulatory guidance on operational risk management requirements in all aspects of the operational risk framework. * Updates on the new Basel II capital modeling methodology for operational risk. * New explorations of operational risk events in recent years including the impact of the global Covid-19 pandemic. * Updated case studies including large events at Wells Fargo, Credit Suisse and Archegos Capital Management. Ideal for executives, managers, and business leaders, Operational Risk Management is also the perfect resource for risk and compliance professionals who wish to refine their abilities to identify, assess, mitigate, and control operational risk.
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Specificații

ISBN-13: 9781119836049
ISBN-10: 1119836042
Pagini: 384
Dimensiuni: 152 x 243 x 26 mm
Greutate: 0.59 kg
Ediția:2nd Edition
Editura: Wiley
Seria Wiley Finance

Locul publicării:Hoboken, United States

Notă biografică

PHILIPPA GIRLING, PhD, is Chief Risk Officer at Varo Bank N.A. She has over 25 years of experience in global financial services and is a recognized risk management leader who has authored two popular operational risk textbooks. She is a sought-after public speaker on enterprise risk management and digital transformation and was named as one of the decade's "Top Fifty Faces of Operational Risk" in 2006.

Cuprins

Preface xiii Acknowledgments xv Chapter 1 Definition and Drivers of Operational Risk 1 The Definition of Operational Risk 1 2012 London Olympics: A Case Study 5 Operational Risk Management and Operational Risk Measurement 9 Drivers of Operational Risk Management 13 Key Points 14 Review Questions 14 Notes 15 Chapter 2 The Regulatory Push 17 History of the Basel Accords 17 Rules of the Accords 22 Adoption of Basel II in Europe 27 Adoption of Basel II in the United States 27 Impact of the Financial Crisis 29 Basel III 34 Key Points 36 Review Questions 36 Notes 37 Chapter 3 The Operational Risk Framework 39 Overview of the Operational Risk Framework 39 The Foundations of the Framework 40 The Four Data Building Blocks 42 Measurement and Modeling 44 Reporting 44 Risk Appetite 45 Key Points 45 Review Questions 46 Note 46 Chapter 4 Operational Risk Governance 47 Role of Governance 47 First Line of Defense 50 Second Line of Defense 51 Third Line of Defense 63 Risk Committees 66 Key Points 68 Review Questions 69 Notes 69 Chapter 5 Culture and Awareness 71 Winning over the Firm 71 Marketing and Communication 72 Agile 73 Training 75 Planning 76 The "Use Test" 82 Key Points 84 Review Question 84 Note 84 Chapter 6 Policies and Procedures 85 The Role of Policies, Procedures, Guidelines, and Standards 85 Best Practices 88 Operational Risk Policy 88 Sample Operational Risk Policy 89 Sample Standards, Procedures, and Guidelines 95 Key Points 97 Review Question 97 Note 97 Chapter 7 Internal Operational Risk Event Loss Data 99 Operational Risk Event Data 99 Internal Loss Data or Internal Operational Risk Events 100 Risk Event Categories 103 Using the Basel Risk Categories 112 Minimum Operational Risk Event Data Standards 113 Where Should Operational Risk Event Data Be Collected? 129 When Should Operational Risk Event Data Be Collected? 130 How Should Operational Risk Event Data Be Collected? 130 Key Points 132 Review Questions 132 Notes 134 Chapter 8 External Loss Data 135 External Operational Risk Event Data 135 Sources of External Loss Event Data 136 Challenges of External Data 139 Key Points 147 Review Question 148 Notes 148 Chapter 9 Key Risk Indicators 149 Key Risk Indicators 149 Selecting Kris 153 Thresholds 154 Kri Standards 154 Kri Challenges 155 Metrics Examples 155 Key Points 161 Review Question 161 Note 161 Chapter 10 Risk and Control Self-Assessments 163 The Role of Assessments 163 RCSA Methods 166 RCSA Scoring Methods 169 RCSA Best Practices 173 Key Points 178 Review Question 179 Note 179 Chapter 11 Scenario Analysis 181 Role of Scenario Analysis 181 Scenario Analysis Approaches 183 Scenario Analysis Output 192 Key Points 195 Review Questions 195 Notes 196 Chapter 12 Capital Modeling 197 Operational Risk Capital 197 Basic Indicator Approach 199 Standardized Approach 202 Advanced Measurement Approach 208 Insurance 221 Future of Capital Requirements: Basel III 223 Key Points 235 Review Questions 236 Notes 236 Chapter 13 Reporting 239 Role of Reporting 239 Operational Risk Event Reporting 241 Risk and Control Self-Assessment Reporting 247 Key Risk Indicator Reporting 248 Scenario Analysis Reporting 249 Capital Reporting 249 Action Tracking Reporting 250 A Consolidated View 253 Dashboards 253 Key Points 253 Review Question 255 Chapter 14 Risk Appetite 257 The Role of Risk Appetite 257 Regulatory Expectations 259 Implementing a Risk Appetite Framework 264 Monitoring Operational Risk Appetite 268 Risk Appetite Today 272 Key Points 272 Review Question 273 Notes 273 Chapter 15 Reputational Risk and Operational Risk 275 What Is Reputational Risk? 275 Reputational Impact 277 Regulatory Oversight of Reputational Risks 283 Reputational Risk Management Framework 284 Key Points 289 Review Question 289 Notes 290 Chapter 16 Operational Risk and Convergence 291 Operational Risk as a Catalyst for Convergence 291 Governance, Risk, and Compliance (GRC) 292 Converged or GRC Reporting 301 Key Points 302 Review Question 303 Notes 303 Chapter 17 Best Practices in Related Risk Management Activities 305 New-Product Approval 305 Supplier and Third-Party Risk Management 306 Legal Risk Management 307 Regulatory Risk Management 308 People Risk Management 308 Fraud Risk Management 309 Technology Risk Management 310 Climate Risk 311 Pandemic Planning 312 Strategic Risk 314 Key Points 316 Review Question 317 Notes 317 Chapter 18 Case Studies 319 JPMorgan Whale: Risky or Frisky? 319 Review Questions 324 Notes 339 Appendix: Answers to Review Questions 341 About the Author 351 About the Website 353 Index 355