The various threats to the operations of an organization, such as fraud, technical issues, poorly designed products, etc., can lead to significant damages and losses. The aim of the book “Risk Management for Banks and Businesses” is to understand the essential components of effective risk management for both students and risk professionals, describing how to implement a sound Risk Management Framework that is integrated into daily business activities.
More specifically, it covers the main tools of operational risk, including risk categorization and self-assessment, as well as control tools and scenario analysis, while exploring the significance of taking on and tolerating operational risk.
Using case studies for significant operational risk events to illustrate each concept, the book demonstrates the value of having a Risk Management Framework and how it integrates with other types of risk management. There is also guidance on the regulatory treatment of operational risk and the importance of risk culture.
In summary, the reader, upon completing the reading of the book, will be able to perform the essential actions in risk management and improve risk management practices.
