Operational Risk Management in Financial Services: A Practical Guide to Establishing Effective Solutions
Product ID: 273253543
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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. Review: Simply the best guide to Operational Risk - This book is a MUST HAVE for anyone who is involved in Operational Risk or just wants to get a better understanding of what it is and the associated framework. I am a Prograame Manager in Fin Services with some understanding of Op Risk and ordered the book to gain a better understanding. I was slightly concerned it would be too complicated to read or dry, I was pleasantly surprised how easy it is to read ( couldn’t put it down!) and it takes you from basics to quite detailed knowledge and practical examples. Industry examples and case studies is the icing on the cake! It is clearly written by an author who knows what they are talking about. Review: Fabulous - Common sense and knowledgable - I bought this in preparation for my new senior role in Governance and Assurance. I now feel well equipped with the book in my tool kit. Everything is explained in accessible terms and brings the true meaning of operational risk management to life. I have recommended the book to three of my new colleagues and I’m sure I will be referring to it in years to come. Thank you Elena for such an insightful book
| Best Sellers Rank | 817,904 in Books ( See Top 100 in Books ) 156 in International Finance 225 in Professional Financial Insurance 447 in Financial Risk Management |
| Customer Reviews | 4.8 out of 5 stars 40 Reviews |
A**3
Simply the best guide to Operational Risk
This book is a MUST HAVE for anyone who is involved in Operational Risk or just wants to get a better understanding of what it is and the associated framework. I am a Prograame Manager in Fin Services with some understanding of Op Risk and ordered the book to gain a better understanding. I was slightly concerned it would be too complicated to read or dry, I was pleasantly surprised how easy it is to read ( couldn’t put it down!) and it takes you from basics to quite detailed knowledge and practical examples. Industry examples and case studies is the icing on the cake! It is clearly written by an author who knows what they are talking about.
E**T
Fabulous - Common sense and knowledgable
I bought this in preparation for my new senior role in Governance and Assurance. I now feel well equipped with the book in my tool kit. Everything is explained in accessible terms and brings the true meaning of operational risk management to life. I have recommended the book to three of my new colleagues and I’m sure I will be referring to it in years to come. Thank you Elena for such an insightful book
M**E
Authoritative book, written by an expert
Simply a must-have book on Operational Risk Management! Unique as it is full of tips and valuable advice that one cannot easily find out there. As a tenured risk practitioner I related to the book and still learned a great deal, and particularly enjoyed RCSA, KRIs and Risk Culture chapters. Would highly recommend to all risk professionals.
R**F
As it says in the tin, a very practical guide!
Each chapter includes a balanced level of theory supported by recommendations and links for further research, case studies, figures, tables, checklists, common challenges and best practices. Useful for implementing from scratch, benchmarking existing frameworks and great for auditing too. Great insights for addressing legacy issues in risk culture and different lines of defense as well. Highly recommended!
M**Y
Great book, easy to read and digest
Recently entered into the world of RCSA and this book is easy to digest, written in a really nice style.
J**R
Informative
I have worked in operational risk in large financial services firms for over 10 years and found this very informative and was useful to refresh my knowledge of key principals and best practices.
S**N
A very practical guide!
Great reference for all elements of the operational risk framework.
A**M
Very practical book on Operational Risk
This is a very practical book on the fundamentals of Operational Risk and best practices. Would recommend to both those new to the discipline and more experienced practitioners.
A**E
Well written
Recommended. Well written. Informatove for anyone working in the area and/or willing to get a good overview.
C**N
A MUST HAVE BOOK!
Elena captures the essence of Operational Risk Management on her book, from foundational concepts she builds up in reference to how a Operational Risk Management Framework operates, I found extremely useful and eye opening her explanation about roles and responsibilities of 1st and 2nd line adding clarity to the existing blurred line, in addition to the core content, Elena also goes above and beyond recommending complementary reading that adds up to her book content. Excellent referential text for Operational Risk Management practitioner, a must have with no doubt.
D**M
Delivered on time and in great condition
The book is great and easy to follow. It has great references for further reading. The structure of the book allows you to follow a step by step process in implementing your Framework.
B**N
One of the best guide books for an Operational Risk professional!
This is one of the best guide books for all Operational Risk professionals out there, trying to strengthen and build up their knowledge on Risk Management. The author made it easier to understand the complex facets and provided concrete examples/cases. Given years in this field, this book helped me gain more appreciation with the usual tasks I am conducting. I will definitely recommend this book to anyone who wants to have a good read.
P**N
Excellent resource!!
Excellent resource for operational risk practitioners! Simple, practical and easy to follow.
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