By Ioannis S. Akkizidis
Advisor to optimum Operational chance and Basel II offers the most important points of operational hazard administration which are additionally aligned with the Basel II standards. This quantity presents targeted assistance for the layout and implementation of a good operational probability administration process. It comprises all components of review, together with operational possibility id, dimension, modeling, and tracking research, besides assessment research and the estimation of capital requirements.The authors additionally deal with the coping with and controlling of operational hazards together with operational probability profiling, danger optimization, expense & optimum source allocation, decision-making, and layout of optimum probability policies.Divided into 4 elements, this ebook starts off by way of introducing the assumption of operational dangers and the way they have an effect on monetary agencies. This part additionally specializes in the most elements of handling operational hazards. the second one half specializes in the necessities of an operational possibility administration framework in response to the Basel II Accord. The 3rd half makes a speciality of all phases of operational threat evaluate, and the fourth half specializes in the keep an eye on and administration levels. All of those phases mix to enforce effective and optimum operational probability administration platforms.
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5. Developments such as the use of more highly automated technology, the growth of E-commerce, and large-scale mergers and acquisitions test the viability of newly integrated systems. The incr eased popularity of outsourcing and the greater use of financing techniques that reduce credit and market risk, but that create increased operational risk all suggest that operational risk exposures may be substantial and growing. The emergence of banks acting as large-volume service providers creates the need for continual maintenance of high-grade inter nal controls and backup systems.
For a detailed discussion of the Chiasso case, see Reference 28. The reason for identifying the Chiasso case as an operational risk event is that it occurred solely as a consequence of having conducted business in an improper and inadequate manner. Structural, procedural, and control failures, as well as errors and misdeeds, were all essential in building the Chiasso losses. Although this case took place in the 1970s, its principal aspects are, unfortunately, still around in today’s financial organizations.
But there is a need to turn these qualitative measurements into more quantitative measurements. For instance, the frequency of committing the same errors could quantitatively measure the employee’s level of knowledge of the organization’s procedures. The organization’s process map highlights the links between operational processes that can identify and measure operational risks, performances, and business objectives. The identification process defines the key operational risks and performance indicators that measure quantitatively both risks and performances, respectively.
Guide to Optimal Operational Risk and BASEL II by Ioannis S. Akkizidis