Managing operational risk is a critical component of sound risk management practice in modern financial markets. The most important types of operational risk involve breakdowns in internal controls and corporate governance such as rogue traders, system failures,and fraudulent risk-taking by bank dealers or loan officers. Large operational losses in risk-related financial services have averaged well in excess of $15 billion annually for the past 20 years at large financial institutions. Because of these statistics, managing operational risks at a firmwide level is now perceived as essential to any financial firm’s success.
Book Details:
- Author: Douglas G. Hoffman
- ISBN: 9780470321157
- Year Published: 2002
- Pages: 576
- BISAC: BUS027000, BUSINESS & ECONOMICS/Finance
About the Book and Topic:
Managing operational risk is a critical component of sound risk management practice in modern financial markets. The most important types of operational risk involve breakdowns in internal controls and corporate governance such as rogue traders, system failures,and fraudulent risk-taking by bank dealers or loan officers. Large operational losses in risk-related financial services have averaged well in excess of $15 billion annually for the past 20 years at large financial institutions. Because of these statistics, managing operational risks at a firmwide level is now perceived as essential to any financial firm’s success.
Globalization and e-commerce have heightened awareness among executives at financial intermediaries that operational risk is growing. Hoffman offers this growing audience an easy-to-read, detailed text that is attractive to financial services executives. Hoffman’s book shows financial firms concerned about operational risks how to manage them effectively.
Coverage of the latest computer modeling techniques and cutting-edge methods for integrating legacy computer systems for managing operational risk. * Features case studies from top financial institutions around the world. * An A-to-Z guide to managing a form of risk of increasing concern to today’s financial institutions.
About the Author
DOUGLAS G. HOFFMAN is an independent consultant specializing in operational risk management. His firm, Operational Risk Advisors, assists financial institutions and corporate clients worldwide in operational risk assessment, analysis, and response, as well as in the design, development, enhancement, and review of risk capital models and risk finance and insurance programs. During his career as a Managing Director at Bankers Trust, and then as CEO of a Web-based technology firm, teams under his lead were credited as pioneers in developing some of the first operational risk-based capital models, databases, operational risk finance and insurance programs, and technology in the industry.