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Operational Risk Management: Six Stigma, Capital Management, Ratings And Financial Engineering

Operational Risk Management: Six Stigma, Capital Management, Ratings And Financial Engineering

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  • ISBN:9780470057889
  • Editorial: Wiley & Sons Ltd.
  • Fecha de la edición:
  • Encuadernación:Tapa dura
  • Dimensiones: 0 cm x 0 cm
  • Nº Pág.:256
  • Idiomas:Inglés,Ingles

Materias:

The proposed new book would focus basically on operational risk management techniques or how to architect the management of this risk. It would have two distinct parts. The first part would deal with non-financial techniques for managing operational risk. These procedures improve the modus operandi of banking operations and cover techniques such as implementing Six sigma and Balanced Scorecard in financial institutions. It would also cover topics in typical operations management in the financial industry (sensitivity analysis, marginal cost analysis etc.) and the definition of business continuity plans.

The second part would deal with the financial management of operational risk. As this is an absolutely new area in the industry, the introduction would be very carefully structured, and would probably be subdivided into three: The basics, the products (instruments), and practical case studies.

The basics will include an introduction to the concept of capital and the different uses of the term. A broad view will also be given of portfolio theory and this will be important in relation to practical cases. An important contribution will be the discussion of the inclusion of operational risk into the financial theory framework, with its impacts (currently just market and credit risks are considered). In this part, an overview of a methodology to rate operational risk will also be provided. This rating can be very important internally to allocate capital but can also have extreme external importance as rating agencies are moving into developing methodologies to rate operational risk in banks and in the near future, one might expect financial institutions to be rated by these agencies. This chapter should provide an important input to the discussions on the subject which are currently in initial stages.

The next part would cover the financial products to hedge operational risk. It would discuss the products that are available, and being developed, (pricing methods, etc. ) The final 'sub-part will deal with practical case studies. Several examples of banks which implemented these techniques (financial or otherwise) will be described and analysed.

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