Ten Laws of Operational Risk: Understanding Its Behaviours to Improve Its Management Grimwade Michael
Unlike Credit and Market Risk, Operational Risk is lacking an overarching theory as to how and why Operational Risk losses occur. This book not only provides this theory but goes onto apply it both to…
Specifikacia Ten Laws of Operational Risk: Understanding Its Behaviours to Improve Its Management Grimwade Michael
Unlike Credit and Market Risk, Operational Risk is lacking an overarching theory as to how and why Operational Risk losses occur. This book not only provides this theory but goes onto apply it both to the redesign of the profession's existing tools and to make predictions as to how Operational Risk will behave in the future.The book is divided into three parts. The first section analyses Operational Risk loss data that has been systematically collected to identify patterns and trends. It then defines Ten Laws to explain these behaviours. The first five laws describe individual events, whilst the remaining five relate to groups of losses suffered by either individual firms or the industry as a whole.This section also includes taxonomies for causes, events and impacts. It concludes by assessing the effectiveness of these laws in explaining the observed patterns and