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Managing Operational Risk
Book

Managing Operational Risk

20 Firmwide Best Practice Strategies

Wiley, 2002 plus...

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Editorial Rating

8

Qualities

  • Innovative
  • Applicable

Recommendation

Timely and dense, this comprehensive treatment of risk assessment and management maps the minefield of business and financial risks. Although professional-level information on banking and financial risk management cannot avoid a certain intensely mathematical character, this volume also pays careful attention to the "softer" side, and stresses the importance of cultural and attitudinal factors. It is a very well-balanced presentation of the subject. However, this very valuable information is written in a turgid, repetitive, convoluted and confusing style that makes it a chore to read. This risk could have been managed by a ruthless editor able to cut half of the undergrowth to clear a path to the meaning. getAbstract.com’s advice to bankers and risk managers: brew some strong coffee and slog through the text. The content is too important to ignore.

Take-Aways

  • Operational risk is getting bigger and more complex.
  • Organizations must define operational risk before they can manage it.
  • Corporate culture can have an enormous impact on risk.

About the Author

An independent, risk-management consultant and a former Managing Director at Bankers Trust, Douglas G. Hoffman led teams that pioneered risk-based capital models, databases, and operational risk finance and insurance programs. His firm, Operational Risk Advisors, assists financial institutions and corporate clients in assessing, analyzing and responding to operational risk.


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