Fundamentals of Operational Risk Management

Höfundur: Simon Ashby (Útgáfa: 2)
Fundamentals of Operational Risk Management

Kaup valmöguleikar

Threats and disruptions to the operations of any organization can have major consequences. From IT disruptions, cyberattacks and third-party issues to serious fraud, conduct risks and geopolitical challenges, there are numerous issues that can impact the success of an organization. Understanding the key principles of an effective operational risk management programme allows organizations to protect themselves from threats.

Fundamentals of Operational Risk Management outlines how to implement an operational risk management framework which is embedded in day-to-day business activities. Covering how to understand an organization's existing risk appetite and risk culture to the key tools for managing operational risks such as a categorization, risk and control self-assessment and scenario analysis, this book provides a step-by-step guide to improving operational risk management.

This fully updated new edition brings new coverage of emerging operational risks related to AI, ESG, extended enterprise and supply chains. It also includes a new chapter that shows an organization how to manage the impact that geopolitical risks can have on their operations. With global real-world examples of major operational risk events across different industries, this book shows the important role that operational risk management can play in an organization's success.

Nánar um bókina

Útgefandi
Kogan Page
ISBN
9781398622920
Print ISBN
9781398622913
Format
ePub
Útgáfa
2
Höfundar
Simon Ashby
Tungumál
English
Útgefið
2025-12-03
Prent takmörkun á líftíma
100
Prent takmörkun
10
Afritunar takmörkun
10

Kaflar

  • Cover
  • Endorsements
  • Titlepage
  • Contents
  • List of Figures
  • List of Tables
  • About the author
  • Foreword
  • Preface
  • Acknowledgements
  • 01 Understanding operational risk: key concepts and management objectives
  • Introduction
  • A brief history of operational risk
  • Defining risk: key concepts
  • The role of operational risk management within an enterprise risk context
  • The value of operational risk: real-world examples of operational risk events
  • Conclusion
  • Reflective practice questions
  • References
  • 02 Embedding operational risk management
  • Introduction
  • A sound framework for operational risk management
  • Operational risk management infrastructure
  • The operational risk management toolkit
  • What ‘embedding’ means
  • Adding value: critical success factors
  • Assessing the embeddedness of the operational risk management framework
  • Conclusion
  • Reflective practice questions
  • References
  • 03 Categorizing operational risks
  • Introduction
  • Common risk types
  • Rationale for operational risk categorization
  • Key principles for categorizing operational risks
  • Designing an operational risk categorization
  • Implementation
  • Conclusion
  • Reflective practice questions
  • References
  • 04 Risk culture
  • Introduction
  • Understanding risk culture
  • Assessing risk culture
  • Monitoring risk culture: risk-culture metrics
  • Influencing risk culture: potential interventions
  • Conclusion
  • Reflective practice questions
  • Appendix A Example risk-culture questionnaire
  • References
  • 05 Risk appetite
  • Introduction
  • Key terms and definitions
  • Determining operational risk appetite and tolerance
  • Expressing operational risk appetite and tolerance: qualitative versus quantitative
  • Deciding on the appropriate level of operational risk appetite and related tolerances
  • Implementing an operational risk appetite framework
  • Conclusion
  • Reflective practice questions
  • Appendix B Example operational risk appetite decision template
  • References
  • 06 Operational risk governance
  • Introduction
  • The role of operational risk governance
  • Elements of an operational risk governance architecture
  • Implementing operational risk governance
  • AI, ESG and operational risk governance
  • Conclusion
  • Reflective practice questions
  • References
  • 07 Risk and control self-assessments
  • Introduction
  • RCSA fundamentals
  • Designing an RCSA
  • Completing an RCSA: approaches and techniques
  • Integrating an RCSA into the operational risk management framework
  • Conclusion
  • Reflective practice questions
  • Appendix C Example RCSA templates
  • References
  • 08 Operational loss events
  • Introduction
  • Operational loss data: a brief statistical primer
  • Comparing the benefits of internal and external event data
  • The elements of operational loss events: key concepts to consider when designing a loss collection tool
  • Implementation
  • Using operational loss event data
  • Conclusion
  • Reflective practice questions
  • References
  • 09 Operational risk indicators
  • Introduction
  • Definitions
  • Using operational risk indicators
  • The desirable features of operational risk indicators
  • Selecting indicators and setting thresholds and limits
  • Managing and reporting operational risk indicators
  • Conclusion
  • Reflective practice questions
  • References
  • 10 Scenario analysis and stress testing
  • Introduction
  • Demarcating scenario analysis, stress testing and reverse stress testing
  • Conducting effective scenario analysis, stress testing and reverse stress testing
  • Making effective use of the workshop outputs
  • Further guidance on stress testing and reverse stress testing
  • Conclusion
  • Reflective practice questions
  • References
  • 11 Organizational resilience
  • Introduction
  • Understanding organizational resilience: key concepts
  • Building capabilities for organizational resilience
  • Conclusion
  • Reflective practice questions
  • References
  • 12 Geopolitical risk
  • Introduction
  • The scope of geopolitical risk
  • Managing geopolitical risks
  • Roles and responsibilities for geopolitical risks
  • Conclusion
  • Reflective practice questions
  • References
  • 13 Regulating operational risk
  • Introduction
  • The rationale for operational risk regulation
  • Solvency regulation
  • Conduct regulation
  • International standards for risk management that relate to operational risk
  • The compliance role of the operational risk function
  • Conclusion
  • Reflective practice questions
  • References
  • Index
  • Copyright