Ten Laws of Operational Risk: Understanding Its Behaviours to Improve Its Management

ISBN-13: 9781119841357 / Angielski / Twarda / 2022 / 416 str.

Michael Grimwade

Spis treści

About the Author xIntroduction xiiPart 1 Ten Laws of Operational Risk (Grimwade, 2020) 1Chapter 1 Patterns in the Behaviour of Operational Risk 5Chapter 2 The Occurrence and Severity of Loss Events 15Chapter 3 Concentration and Systemic Operational Risk Events (SOREs) 51Chapter 4 Homeostasis, Risk Transference, Transformation and Conservation, and Active Risk Taking 63Chapter 5 Three Taxonomies: Inadequacies or Failures, Impacts and Causes 75Chapter 6 Conclusions - How and Why 97Part 2 Operational Risk Management Tools Designed for Success 115Chapter 7 Defining and Cascading Operational Risk Appetites 119Chapter 8 Risk & Control Self-Assessments 135Chapter 9 Scenario Analysis 147Chapter 10 Operational Risk Capital Modelling 165Chapter 11 Stress Testing 181Chapter 12 Reverse Stress Testing and the Transfer of Risks via Insurance 211Chapter 13 Day-to-Day Operational Risk Management 229Chapter 14 Conclusions 267Part 3 Predictions of the Future Behaviours of Operational Risk 275Chapter 15 Identifying Emerging Risks 277Chapter 16 Predictions of the Future Behaviours of Operational Risk in Response to Four Emerging Threats 283Part 4 Conclusions 329Chapter 17 Conclusions and Operational Risk Strategy 331AppendicesAppendix I Taxonomy of Inadequacies or Failures: Events and Control Failures 349Appendix II Impact Taxonomy and Their Relative Scales and Velocities 359Appendix III Causal Taxonomy Based Upon a Review of Large, Well-Documented Events 363Appendix IV Risk Taxonomies for Cybercrime and IT Operational Risks Based on Analysis of Actual Loss Events 369Glossary 377Bibliography 381Index 387

O autorze

MICHAEL GRIMWADE has over 25 years' experience in operational risk management. He is Head of Operational Risk at ICBC Standard Bank and is the author of Managing Operational Risk: New Insights and Lessons Learnt. He is a former Director of the Institute of Operational Risk, and has previously held senior operational risk roles at LBG, RBS and MUFG Securities.