Operational Risk: Measurement and Modelling
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Book Description
Operational risk is emerging as the third leg of an institutional risk strategy for financial institutions. Now recognized as a potential source of financial waste, operational risk has become the subject of surveys, analysis, and the search for a comprehenvise set of definitions and a shared framework. Written by a leading expert on operational risk measurement, this important work puts forth a cradle-to-grave hands-on approach that concentrates on measurement of risk in order to provide the needed feedback for managing and mitigating it. Using both theoretical and practical material, he lays out a foundation theory that can be applied and refined for application in the financial sector and beyond which includes a new technique called Delta-EVT(trademark). This technique is a combination of two existing methods which provides for the complete measurement of operational risk loss. The book contains comprehensive step-by-step descriptions based on real-world examples, formulas and procedures for calculating many common risk measures and building causal models using Bayesian networks, and background for understanding the history and motivation for addressing operational risk.
Book Info
Comprehensive resource for understanding the effects of risk in all operations, explaining the relationship between risk assessment, process engineering, and statistical loss models. Also includes and explains the formulas and procedures for calculating common risk measures and building casual models using Bayesian networks.
Operational Risk: Measurement and Modelling
Operational Risk: Measurement and Modelling,Jack L. King,John Wiley & Sons,0471852090,Applied,Business & Economics,Business / Economics / Finance,Business/Economics,Economics - General,Entrepreneurship,Finance,Financial Institutions,Management,Mathematical Models In Economics,Mathematical models,Operational risk,Risk management,Budgeting & financial management,Business & Economics / Finance,Risk assessment & analysis for business
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