Operations Risk Managing a Key Component of Operational Risk Elsevier Finance 1st Edition by David Loader ISBN 0750667990 978-0750667999
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ISBN 10: 0750667990
ISBN 13: 978-0750667999
Author: David Loader
Operations Risk–a form of Operational Risk, is becoming increasingly important as more and more sophisticated products and the use of those products occurs in the financial services industry. Outsourcing, including overseas outsourcing, is changing the structure of firms and particularly operations teams. Thus understanding the existing and the changing risk environment in operations functions and its impact on operational risk is centrally important today. The book focuses on areas such as technology risk, people risk, and settlement risk, examining the dangers that lurk within different organisations. Case studies throughout the book illustrate the way in which risk can become magnified and ultimately become a serious danger to the businesses concerned. The reader is challenged throughout the book to interpret given situations in Operations Risk so as to understand the impact of the risks and devise solutions through a series of exercises included in the relevant chapters. (answers are provided). This “self-test approach will help reinforce understanding of the detailed material contained throughout the book.
*Offers the knowledge, tools, techniques, and solutions necessary to recognize and evaluate operations risk*Concise, easy to read format provides practical solutions and techniques that readers can implement tomorrow *Case studies and “self-test” features ensure practical understanding.
Table of contents:
Chapter 1 The operational risk universe
Post barings
The influence of BIS
Operational risk management
Types of risk
Chapter 2 Defining operations risk in investment and retail banking
Retail banking
Managing operations risk in retail banking
Types of operations risk affecting retail banks
Customer account errors
Immediate observations
Possible outcomes
Action
Risk impact
Damage limitation and preventative action
Managing other operations risks
Risk in Investment Banking
Chapter 3 Operations risk
Analysing the risk value
Summary of operations risk
Market risk
Management risk
Market or principal risk
Credit or counterparty risk
Operational risk
Other risks
Understanding risk
Operations management
Chapter 4 Managing the risk
How does the business manage operations risk?
Devising a strategy to manage operations risk
Self-assessment techniques
“Risk envelopes”
“Risk waves”
“Risk scoring”
“Fishbone analysis of cause”
Risk volcanoes
Summary
Chapter 5 Understanding a risk event
Pre-event
Time lag
Realisation
Mitigation
Lessons learned
Chapter 6 Workflow and operations risk
People
Management
Analysing risk in the workflow
Analysing workflow
Chapter 7 Risk and regulation
Regulation in respect of custody services
Regulation affecting brokers and fund management companies
Exchange and clearing house regulation
Summary details on regulation
Summary
Chapter 8 Innovative tools to manage people risks
Analysing Hypnotherapy as a tool to reduce operations risk
Hypnotherapy
Chapter 9 Insourcing and outsourcing risk
Guiding principles – Overview
Case study 1: German loan factory
Case study 2: Australian regulator investigates bank outsourcing
Case study 3: Outsourcing unit pricing for managed funds
Case study 4: OCC action against a bank and service provider
Case study 5: Joint examinations of third-party service providers in the United States
Summary
Glossary of risk terminology
Publications
Useful websites
Appendix 1: Consolidated KYC risk management
Introduction
Global process for managing KYC risks
Customer acceptance policy
Customer identification
Monitoring of accounts and transactions
Consolidated risk management and information sharing
Mixed financial groups
The role of the supervisor
Appendix 2: A collection of excerpts and published operational risk guidelines and recommendations
Derivatives
About the FOA
Appendix 3: Global clearing and settlement – The G30 twenty recommendations
Managing Operational Risk
FX Settlement Risk
Why CLS?
How CLS works
CLS in business
Who is involved
Settlement Members’ customers
CLS group of companies
Appendix 4: ISSA recommendations 2000
International Securities Services Association ISSA
1. Introduction
1.1 Objectives of this Report
1.2 Overview of the Process
1.3 Relationship Between the ISSA Recommendations and Other Initiatives
2. Summary and Conclusions
3. Action Plan and Prioritisation
Appendix I: Full Wording of the ISSA Recommendations 2000
Appendix II: Summary of Second Network Managers Meeting
Appendix III: Contributing and Validating Institution
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Tags: David Loader, Operations Risk, Managing a Key, Operational Risk