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Type of bind: Hardcover
Dewey Decimal Number: 658.155
EAN num: 9780471412687
ISBN number: 0471412686
Label: Wiley
Manufacturer: Wiley
Quantity: 1
Page Count: 540
Printing Date: January 11, 2002
Publishing house: Wiley
Sale Popularity Level: 724103
Studio: Wiley
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Editor's Notes and Comments:
Product Description:
Details of the 20 best management strategies for operational risk
'Finally, we have a comprehensive, practical tool for operational risk. This book covers all critical aspects of operational risk, from simply how to get started to the complex modeling of the risk. The case studies are especially useful.'
–Mark Balfan
Senior Vice President and Group Head, Corporate Risk Management
Bank of Tokyo Mitsubishi
'Doug Hoffman was in the business of managing operational risk before most and it shows. His book is both comprehensive and to the point–a tough combination to achieve.'
–Simon Wills
Director, British Bankers’ Association
'Operational risk has become a central issue in the management of enterprise risk and for capital adequacy standards for financial institutions. Doug Hoffman is among the very few pioneers in developing an understanding of operational risk, the discipline of operational risk management, and related capital attribution standards for economic and regulatory capital. This book will become a reference work for the financial services industry and financial regulators.'
–George J. Vojta
Director, Financial Services Forum
'In a quickly evolving area, this book provides a balanced and thorough discusion of the variety of approaches a bank can use to establish a risk management and measurement system for operational risk. The book presents a solid conceptual analysis of the issues to consider, paired with practical guidance.'
–Barbara Matthews
Banking Advisor and Regulatory Counsel, The Institute of International Finance, Ltd.
Managing Operational Risk is the answer for executives and operational risk managers of financial firms who want to establish the best policies for bridling operational risk at a firmwide and enterprise-wide level. The techniques and practices presented here include: - Dynamic risk monitoring and reporting–implement a continuum of data and risk tools for effective identification, assessment, mitigation, and finance
- Risk assessment, modeling, and risk-adjusted performance measures–calculate, monitor, and manage the effects of operational losses on firmwide and business unit levels
- Operational risk technology and systems–ensure program efficiency by leveraging technology in enterprise-wide data gathering
- Market perception–develop a plan and ongoing discipline for protecting corporate integrity and managing crises that may impact a firm’s reputation, brand, or franchise
- Insurance and risk finance programs–design, evaluate, and fine-tune insurance and developing financial programs for operational risks
User popularity level:
Rated by buyers 
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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. Are advice to bankers and risk managers: brew some strong coffee and slog through the text. The content is too important to ignore.
Rated by buyers 
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I found this book to be very theoretical and not practical at all. Save your money!
Rated by buyers 
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This book is good for those who already know what OpRisk is all about, or at least are familiar with banking terms and financial measurement systems. If you are new to the game, you are likely to become very frustrated.
Mr Hoffman throws a multitude of operational risk "building blocks" on the floor in the opening chapter, tells us that we will use them to build a "house", picks them up one-by-one and explains them - sometimes well, sometimes poorly. If you already have the big picture, i.e. you know what the finished "house" is supposed to look like, you will be able to follow - most of the time (see below). If you know little or nothing about OpRisk, I am fully convinced that the book would be easier to understand backwards - i.e. the chapters are read in reverse order (no joke).
There are also several points in the book which had me scratching my head at the consistency of it all! To pick just one example, on page 186 there is a list of what Mr Hoffman calls "Top Down" and "Bottom Up" risk assessment methodologies. In this list, "Delphi Scenarios" is listed as one of the TOP DOWN methods. Two pages later, under the heading "BOTTOM-UP RISK ASSESSMENT METHODS", Delphi Scenarios are discussed/mentioned!!! What is it really - a Top Down or Bottom Up method??
There are several other examples throughout the book likely to cause more than a little confusion to the attentive beginner.
Rated by buyers 
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Douglas Hoffman's extensive experience in the field of operational risk shines through in this book as he takes operational risk out of the classroom and applies it to real world examples. This is an insightful read for any operational risk professional.
Rated by buyers -
I am new to the field of operational risk and this book provided a good introduction. It is readable and practical. I especially found the discusion of Banker's Trust's operational risk department and methodology fascinating. This book is actually readable unlike so many others in the field.
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