Operational Risk

The New Challenge for Banks

By: Gerrit Jan van den Brink

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Hardcover | 14 December 2001 | Edition Number 1

At a Glance

Hardcover
176 Pages

Dimensions(cm)
21.59 x 14.61 x 1.27

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Operational risk is one of the oldest risks in the banking sector, and yet regulatory bodies including the Basle Committee are still working on a regulatory framework. Damage control measures introduced by banks have often proved ineffective. The successful management of operational risk requires preventative action and will be a significant competitive advantage for banks in the future. This book is a practical guide to achieving control of operational risk. Using qualitative analysis, the author suggests risk identification procedures and provides tools for the analysis, quantification and management of risk. He goes on to discuss future developments in both the regulatory and insurance sectors, including the most recent Basle Committee proposals.

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Non-Fiction Accounting & Finance Finance Insurance & Actuarial Studies Banking Business & Management Management & Management Techniques Management Decision Making Accounting Management Accounting & Bookkeeping Corporate Finance Economics

Macroeconomics Monetary Economics Industry & Industrial Studies Service Industries

List of Tables	p. ix
List of Figures	p. x
Acknowledgements	p. xi
Introduction	p. xiii
Definition and Dimensions of Operational Risk	p. 1
Definition and classification of risk	p. 1
Dimensions of operational risk	p. 5
The risks	p. 5
Elements of operational risk control	p. 13
Integration of operational risk in bank management	p. 14
Risk Identification and Quantification	p. 21
The awareness process	p. 21
Self-diagnosis	p. 21
Information needed for the quick-scan process	p. 22
Results of the quick scan	p. 39
Self-diagnosis steps	p. 40
Use of the questionnaire	p. 42
The internal audit department's role	p. 43
Operational audit	p. 44
The value of operational audit reports for diagnostic purposes	p. 45
Quantification of operational risk	p. 45
Quantification methods used	p. 47
An intermezzo: the adviser's risk	p. 69
Capital allocation	p. 73
A top-down approach for capital allocation	p. 77
The internal risk capital market	p. 78
Management of Operational Risk	p. 80
Introduction to operational risk management	p. 80
The regulatory environment	p. 82
[section]25a of the German Banking Act (KWG)	p. 83
The toolkit	p. 86
Introduction to the use of the toolkit	p. 86
The contents of the toolkit	p. 86
The implementation of a control environment	p. 87
Knowledge management	p. 89
Policies and procedures	p. 95
Segregation of duties	p. 95
Dual control	p. 97
Proxy instruction	p. 98
Confirmations	p. 98
Reconciliations	p. 99
Plausibility checks	p. 101
Determination and control of counterparty and trading limits	p. 101
Inventory check	p. 102
Implementation of an independent internal control function	p. 102
Control measures to guarantee error-free IT processing	p. 103
Recruitment of reliable personnel	p. 109
Conclusion	p. 109
Risk transfer	p. 109
Management information	p. 115
Future trends	p. 116
Concluding Remarks	p. 118
Operational Risk: Diagnosis	p. 120
Operational Risk: Error Trees	p. 135
Transaction Volume	p. 137
Loss Factor Categorization	p. 144
Notes	p. 151
References	p. 153
Index	p. 155
Table of Contents provided by Syndetics. All Rights Reserved.

Operational Risk

The New Challenge for Banks

At a Glance

Hardcover

Shipping

How to return your order

Defective items

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