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 | | Managing Operational Risk: 20 Firmwide Best Practice Strategiess by Douglas G. Hoffman ISBN-10: 9780471412687 ISBN-10: 0-471-41268-6 ISBN-13: 9780471412687 ISBN-13: 978-0-471-41268-7 Hardcover 2002-01-11 Wiley Find Lowest Price |
Editorials | ||
Product Description Published in association with the Global Association of Risk Professionals As e-commerce and globalization continue to expand, so does the level of operational risk, increasing the need for guidance on how to measure and manage it. This is the definitive guide to managing operational risk in financial institutions. Written in a concise, no-nonsense style, and containing numerous real-life case studies, it covers all the bases from the basics of what operational risk is to how to design and implement sophisticated operational risk management systems. Readers will appreciate the up-to-the-minute coverage of the latest techniques and practices to manage operational risk. They will learn how to enhance their positions in the face of anticipated new regulatory standards and capital requirements. Douglas G. Hoffman (Fairfield, CT) is an independent consultant in operational risk management. His firm, Operational Risk Advisors, provides executive training and assists financial institutions and corporate clients worldwide in operational risk analysis and mitigation. | ||
Reviews | ||
Highly Recommended! 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. | ||
Useless I found this book to be very theoretical and not practical at all. Save your money! | ||
Too much and not enough! 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. | ||
Informative Read 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. | ||
Good Introduction 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 discussion of Banker's Trust's operational risk department and methodology fascinating. This book is actually readable unlike so many others in the field. | ||