Operational Risk and Financial Institutions

Preface

List of panels

List of contributors

STARTING POINTS AND INDUSTRY TRENDS

Operational Risk and Financial Institutions: Getting Started

Stephen Kingsley, André Rolland, Andrew Tinney and Paul Holmes of Arthur Andersen

New Trends in Operational Risk Measurement and Management

Douglas G. Hoffman of Bankers Trust

IMPLEMENTING NEW APPROACHES TO OPERATIONAL RISK

Key Steps in Building Consistent Operational Risk Measurement and Management

Michel Crouhy and Robert Mark of the Canadian Imperial Bank of Commerce and Dan Galai of the Bebrew University, Jerusalem

Defining and Aggregating Operations Risk Information: Applications in Risk Mitigation and Capital Allocation

Jonathan M. Davies, Matthew Fairless, Sonia Libaert, Jason Love, David O’Brien, Peter C. Slater and Tim Shepheard-Wallwyn of Warburg Dillon Read

Measuring and Managing Operational Risk within an Integrated Risk Framework: Putting Theory into Practice

James Lam of Enterprise Risk Solutions and Greg Cameron of Fidelity Investments

Minimising Operational Risk in Financial Conglomerates

Thomas C. Donahoe of Metropolitan Life

Operational Risk in Retail Banking: Promoting and Embedding Risk Awareness Across Diverse Banking Groups

Chris Rachlin of The Royal Bank of Scotland plc

DEVELOPMENTS IN ANALYSING AND QUANTIFYING OPERATIONAL RISK

Analysis of Mishandling Losses and Processing Errors

Mark Laycock of Deutsche Bank AG

Securities Fraud and Irregularities: Case Studies and Issues for Senior Management

Norvald Instefjord and William Perraudin of Birkbeck College and Patricia Jackson of the Bank of England

Psychological Theory and Financial Institutions: Individual and Organisational Influences on Decision Making and Behaviour

Emma Soane, Mark Fenton-O’Creevy, Nigel Nicholson and Paul Willman of the Centre for Organisational Research, London Business School

Measuring the Risk of Using the Wrong Model: A New Approach

Yiannos A. Pierides of the University of Cyprus and Stavros A. Zenios of the University of Cyprus and the University of Pennsylvania

On the Quantification of Operational Risk: A Short Polemic

Michael K. Ong from ABN AMRO

Index