In the next wave of conduct regulation in financial markets, from 2021 conduct regulators in the UK and elsewhere expect firms to produce evidence on how they are improving behaviour and culture. Facing this, many practitioners are anxious that their current reporting and management information (MI) are irrelevant to meeting as-yet unclear regulatory expectations. This book provides the insights and tools firms need to report on culture, securing both enhanced business value and the regulator's approval. Culture is now seen as a key contributor to good governance, feeding into existing discourse on environmental, social and governance (ESG) factors and the emerging dialogue on 'non-financial (mis)conduct', but conventional measures of business quality are unfit for the new reporting agenda. Culture Audit in Financial Services follows the arc of 'behavioural regulation' to examine what the regulator really wants, before offering guidance on how culture audit differs from conventional auditing, how to put the latest pure-research findings to work, and the key features of well-designed conduct and culture reports. Written by an impartial author and a variety of contributors with extensive experience working with practitioners, regulators, and many of the world's finest academic initiatives, this book is filled with practical, grounded advice on how best to approach this new challenge and avoid infractions.

OpRisk Awards 2020 Book of the Year Winner! The Authoritative Guide to the Best Practices in Operational Risk Management Operational Risk Management offers a comprehensive guide that contains a review of the most up-to-date and effective operational risk management practices in the financial services industry. The book provides an essential overview of the current methods and best practices applied in financial companies and also contains advanced tools and techniques developed by the most mature firms in the field. The author explores the range of operational risks such as information security, fraud or reputation damage and details how to put in place an effective program based on the four main risk management activities: risk identification, risk assessment, risk mitigation and risk monitoring. The book also examines some specific types of operational risks that rank high on many firms' risk registers. Drawing on the author's extensive experience working with and advising financial companies, Operational Risk Management is written both for those new to the discipline and for experienced operational risk managers who want to strengthen and consolidate their knowledge.

Risk science is becoming increasingly important as businesses, policymakers and public sector leaders are tasked with decision-making and investment using varying levels of knowledge and information. Risk Science: An Introduction explores the theory and practice of risk science, providing concepts and tools for understanding and acting under conditions of uncertainty. The chapters in this work cover the fundamental concepts, principles, approaches, methods and models for how to understand, assess, communicate, manage and govern risk. These topics are presented and examined in a way which details how they relate, for example, how to characterize and communicate risk with particular emphasis on reflecting uncertainties; how to distinguish risk perception and professional risk judgments; how to assess risk and guide decision-makers, especially for cases involving large uncertainties and value differences; and how to integrate risk assessment with resilience-based strategies. The text provides a variety of examples and case studies that relate to highly visible and relevant issues facing risk academics, practitioners and non-risk leaders who must make risk-related decisions. Presenting both the foundational and most recent advancements in the subject matter, this work particularly suits students of risk science courses at college and university level. The book also provides broader key reading for students and scholars in other domains, including business, engineering and public health.

'Risk Governance is a tour de force. Every risk manager, every risk analyst, every risk researcher must read this book - it is the demarcation point for all further advances in risk policy and risk research. Renn provides authoritative guidance on how to manage risks based on a definitive synthesis of the research literature. The skill with which he builds practical recommendations from solid science is unprecedented.'Thomas Dietz, Director, Environmental Science and Policy Program, Michigan State University, USA 'A masterpiece of new knowledge and wisdom with illustrative examples of tested applications to realworld cases. The book is recommendable also to interested students in different disciplines as a timely textbook on 'risk beyond risk'.'Norio Okada, Full Professor and Director at the Disaster Prevention Research Institute (DPRI), Kyoto University, Japan 'There are classic environmental works such as The Tragedy of the Commons by Hardin, Risk Society by Beck, The Theory of Communicative Action by Habermas, and the seminal volumes by Ostrom on governing the commons. Renn's book fits right into this series of important milestones of environmental studies.'Jochen Jaeger, Professor at Concordia University, Montreal, Canada 'Risk Governance provides a valuable survey of the whole field of risk and demonstrates how scientific, economic, political and civil society actors can participate in inclusive risk governance.'Jobst Conrad, Senior Scientist, Social Science Research Center Berlin, Germany 'Renn offers a remarkably fair-minded and systematic approach to bringing together the diverse fields that have something to say about 'risk'. Risk Governance moves us along the path from the noisy, formative stage of thinking about risk to one with a stronger empirical, theoretical, and analytical foundation.'Baruch Fischhoff, PhD, Howard Heinz University Professor, Carnegie Mellon University, Pittsburgh, USA 'I cannot describe how impressed I am at the breadth and coherence of Renn's career's work! Written with remarkable clarity and minimal technical jargon... [this] should be required reading in risk courses!' John Graham, former director of the Harvard Risk Center and former deputy director of the Office of Budget and Management of the Unites States Administration This book, for the first time, brings together and updates the groundbreaking work of renowned risk theorist and researcher Ortwin Renn, integrating the major disciplinary concepts of risk in the social, engineering and natural sciences. The book opens with the context of risk handling before flowing through the core topics of assessment, evaluation, perception, management and communication, culminating in a look at the transition from risk management to risk governance and a glimpse at a new understanding of risk in (post)modern societies.

COMMUNICATING IN R!SK, CRISIS, AND HIGH STRESS SITUATIONS LEARN THE UNIFYING PRINCIPLES BEHIND RISK, CRISIS, AND HIGH STRESS COMMUNICATION WITH THIS STATE-OF-THE-ART REFERENCE WRITTEN BY A MAJOR LEADER IN THE FIELD Communicating in Risk, Crisis, and High Stress Situations: Evidence-Based Strategies and Practice is about communicating with people in the most challenging circumstances: high stress situations characterized by high risks and high stakes. The ability to communicate effectively in a high stress situation is an essential communication competency for managers, engineers, scientists, and professionals in every field who can be thrust into demanding situations complicated by stress. Whether you are confronting an external crisis, an internal emergency, or leading organizational change, this book was written for you. Communicating in Risk, Crisis, and High Stress Situations brings together in one resource proven scientific research with practical, hands-on guidance from a world leader in the field. The book covers such critical topics as trust, stakeholder engagement, misinformation, messaging, and audience perceptions in the context of stress. This book is uniquely readable, thorough, and useful, thanks to features that include: Evidence-based theories and concepts that underlie and guide practice Tools and guidelines for practical and effective planning and application Experience-based advice for facing challenges posed by mainstream and social media Provocative case studies that bring home the key principles and strategies Illuminating case diaries that use the author's breadth and depth of experience to create extraordinary learning opportunities The book is a necessity for managers, engineers, scientists, and others who must communicate difficult technical concepts to a concerned public. It also belongs on the bookshelves of leaders and communicators in public and private sector organizations looking for a one-stop reference and evidence-based practical guide for communicating effectively in emotionally charged situations. Written by a highly successful academic, consultant, and trainer, the book is also designed as a resource for training and education.

Predictive analytics refers to making predictions about the future based on different parameters which are historical data, machine learning, and artificial intelligence. This book provides the most recent advances in the field along with case studies and real-world examples. It discusses predictive modeling and analytics in reliability engineering and introduces current achievements and applications of artificial intelligence, data mining, and other techniques in supply chain management. It covers applications to reliability engineering practice, presents numerous examples to illustrate the theoretical results, and considers and analyses case studies and real-word examples. The book is written for researchers and practitioners in the field of system reliability, quality, supply chain management, and logistics management. Students taking courses in these areas will also find this book of interest.

This book discusses and chronicles various types of manufacturing processes, including casting and molding, machining, joining, shearing, and forming. It refers to repetitive, discrete, job shop, process manufacturing (continuous), and process manufacturing (batch). It also offers detailed examples from the nuclear, electronic, plastics, adhesives, inks, packaging, chemical, and pharmaceutical industries. Advanced Manufacturing Operations Technologies: Principles, Applications, and Design Correlations in Chemical Engineering Fields of Practice fills the gap in the connection between production and regulated applications in several industries. It highlights established concepts and provides a new fresh outlook by concentrating on and creating linkages in the implementation of practices in manufacturing and safe clean energy systems. Case studies for the overall design, installations, and construction of manufacturing operations in various industries as well as the standard operating procedures are offered. The book also discusses the correlation between design strategies including step-by-step processes to ensure the reliability, safety, and efficacy of products. The fundamentals of controlled techniques, quality by design, risk assessment, and management are covered in support of operations applications and continuous improvement. This comprehensive book is helpful to all professionals, students, and academicians in many scientific disciplines that utilize fundamental principles of chemical engineering. It is engineering-driven and will be of use to those in industrial and manufacturing, chemical, biochemical, mechanical engineering, and automated control systems fields.

Risk is the single most prevalent and enduring factor that influences every individual, organization, and society. We often seek protection from negative risk events, but also seek to take advantage of opportunities arising from positive risk events. We may feel overwhelmed by messages encountered in daily interactions with media and society, contributing to a sense of ambiguity over how to act in response to risk-related information and misinformation. We seek to leverage evidence and reason to find our own balance between both positive and negative outcomes in an uncertain world. This ground-breaking book delivers practical concepts and tools that empower readers to leverage innovations in risk science to improve their abilities to interpret, assess, communicate, and handle risk. It provides a practical non-quantitative approach to understanding risk and to making better decisions involving risk. Think RISK covers several key themes in risk science: a) The main goals and strategies for understanding and managing risk b) How readers can inform their risk stances by considering their own individual values and mission c) The difference between risk and safety, and how that difference is critical for managing risk d) The role of psychological factors when understanding and managing risk e) The role of communication when understanding and managing risk, and f) The general importance and incentives for effectively understanding and managing risk. Written for business professionals in all private and public sectors, this book will also be relevant to non-business professionals such as medical practitioners and policymakers and would be an ideal fit for executive education and seminar-style courses in universities, corporate books clubs and training seminars. Because it's based on foundational and scientifically accepted ideas and principles, the book should remain relevant for many years.

Digital Asset Valuation and Cyber Risk Measurement: Principles of Cybernomics is a book about the future of risk and the future of value. It examines the indispensable role of economic modeling in the future of digitization, thus providing industry professionals with the tools they need to optimize the management of financial risks associated with this megatrend. The book addresses three problem areas: the valuation of digital assets, measurement of risk exposures of digital valuables, and economic modeling for the management of such risks. Employing a pair of novel cyber risk measurement units, bitmort and hekla, the book covers areas of value, risk, control, and return, each of which are viewed from the perspective of entity (e.g., individual, organization, business), portfolio (e.g., industry sector, nation-state), and global ramifications. Establishing adequate, holistic, and statistically robust data points on the entity, portfolio, and global levels for the development of a cybernomics databank is essential for the resilience of our shared digital future. This book also argues existing economic value theories no longer apply to the digital era due to the unique characteristics of digital assets. It introduces six laws of digital theory of value, with the aim to adapt economic value theories to the digital and machine era.

The Risk Management Handbook offers readers knowledge of current best practice and cutting-edge insights into new developments within risk management. Risk management is dynamic, with new risks continually being identified and risk techniques being adapted to new challenges. Drawing together leading voices from the major risk management application areas, such as political, supply chain, cybersecurity, ESG and climate change risk, this edited collection showcases best practice in each discipline and provides a comprehensive survey of the field as a whole. This second edition has been updated throughout to reflect the latest developments in the industry. It incorporates content on updated and new standards such as ISO 31000, MOR and ISO 14000. It also offers brand new chapters on ESG risk management, legal risk management, cyber risk management, climate change risk management and financial risk management. Whether you are a risk professional wanting to stay abreast of your field, a student seeking a broad and up-to-date introduction to risk, or a business leader wanting to get to grips with the risks that face your business, this book will provide expert guidance.

A framework for formalizing risk management thinking in today's complex business environment

Security Risk Management Body of Knowledge details the security risk management process in a format that can easily be applied by executive managers and security risk management practitioners. Integrating knowledge, competencies, methodologies, and applications, it demonstrates how to document and incorporate best-practice concepts from a range of complementary disciplines.

Developed to align with International Standards for Risk Management?such as ISO 31000?it enables professionals to apply security risk management (SRM) principles to specific areas of practice. Guidelines are provided for: Access Management; Business Continuity and Resilience; Command, Control, and Communications; Consequence Management and Business Continuity Management; Counter-Terrorism; Crime Prevention through Environmental Design; Crisis Management; Environmental Security; Events and Mass Gatherings; Executive Protection; Explosives and Bomb Threats; Home-Based Work; Human Rights and Security; Implementing Security Risk Management; Intellectual Property Protection; Intelligence Approach to SRM; Investigations and Root Cause Analysis; Maritime Security and Piracy; Mass Transport Security; Organizational Structure; Pandemics; Personal Protective Practices; Psych-ology of Security; Red Teaming and Scenario Modeling; Resilience and Critical Infrastructure Protection; Asset-, Function-, Project-, and Enterprise-Based Security Risk Assessment; Security Specifications and Postures; Security Training; Supply Chain Security; Transnational Security; and Travel Security.

Security Risk Management Body of Knowledge is supported by a series of training courses, DVD seminars, tools, and templates. This is an indispensable resource for risk and security professional, students, executive management, and line managers with security responsibilities.

Highly practical and useful for practitioners - cuts through a highly technical and complex subject in a useable and easy to follow way but without 'dumbing down'. Focuses on the facilitation of risk management, an area that is glossed over or simply ignored in other books on risk management. Brand new chapters on virtual facilitation and the role of group bias in the assessment of risk.

This book statistically confirms that complexity and changing technologies that affect the way operators interact within the systems of the nuclear facili-ties exacerbate the severity of incidents caused by human error and details the application of the systems engineering process to reduce human error given industries' rapidly advancing technology. Technology, Human Performance, and Nuclear Facilities: A Systems Engineering Approach to Reduce Human Error provides a basic understand-ing of Human Error/ P erformance and its relation to industrial operations and advancing technologies incorporated into facilities. The book discusses the context surrounding the complexity of changing technologies at nuclear facili-ties and the potential worsening of problems caused by human error when technology advancements concerning operator interaction with control sys-tems are implemented. It presents how to reduce human error propensity given the incorporation of advanced technology and covers ways to reduce human error using the systems engineering process. Also offered are several concepts related to the operator's involvement in the systems engineering process and the human performance integration with system operational requirements and system testing, evaluation, and validation, and the procedures and training development in the systems engineering process. This book presents empirical evidence for the importance of human performance management in the con-text of nuclear facilities and offers practical recommendations for the improve-ment of this function. Systems engineers, plant/ design engineers, the nuclear industry, plant operations management, and those involved in industrial and nuclear safety will find something of interest in this book.

1) Demonstrates alternative definitions of the fuzzy safety factor 2) Explains properties of materials and their structural deterioration 3) Covers optimal probabilistic design 4) Aids the reader in solving problems associated with uncertainty

Most approaches that contribute to the design of life-critical systems almost only consider nominal situations where procedures can be developed and used to achieve satisfactory operations. These kinds of approaches lead to rigid ways of doing things and poorly address the needs for flexibility, especially when things go wrong. It is not a matter of human adaptation but of human systems integration (HSI) flexibility. HSI flexibility requires cross-fertilization of appropriate experiences combined with creativity. This book provides risk-management approaches and methods for combining prevention and design. Features: Discusses risk-management approaches and methods for combining prevention and design Examines a transdisciplinary approach to risk management in design and operations of safer life-critical systems Proposes an approach of work analysis during design, which enables design teams to consider HSI issues early enough to fix organizational problems upstream Teaches the combination of prevention and design for safety management This book gathers and analyzes relevant field data to rationalize human and systems activity in various life-critical environments and workplaces, in a systemic manner, and in a variety of safety domains (e.g., aviation, road, navy, manufacturing, hospital, transportation, defense, sport). It further formalizes and analyzes risk-taking experience, expertise, stories about critical events, and scientific and professional literature data to help engineering designers, managers, and health and safety specialists. The text is primarily written for graduate students and professionals working in the fields of occupational health and safety, ergonomics, human factors, cognitive engineering, and human-system integration.

A new playbook for effective crisis management in higher education. Unlike other industries, in higher education an institution's most important asset is its reputation. Yet as fundamental as it is, many leaders continue to view managing reputation as dishonest and counterproductive, a suspect process that undermines the very idea of reputation as an organic outcome of reality. When leadership credibility is on the line, though, and an institution's reputation is facing potentially irreparable damage, the concept of reputational risk moves from being nebulous to all too tangible. In Preventing Crises at Your University, Simon Barker demonstrates how critical it is for colleges and universities to align strategy and values with decision-making during times of crisis. Arguing that leaders must stop considering the discussion of reputational risk as unseemly, he demonstrates that this discussion is in fact a strategic imperative for every leader. Significant reputational damage, Barker asserts, is not the inevitable outcome of a crisis but of a poor response. Defining a new crisis leadership playbook to deal with self-inflicted crises, he also * explains what typically goes wrong in a crisis; * describes how to prevent crises from escalating; * demonstrates how a stakeholder-centric model of communications can help mitigate reputational damage; and * introduces a number of original concepts, including a Reputational Risk Management Framework, a Reputational Risk Maturity Model, and a Culture and Capability matrix. Moving beyond the theoretical by presenting case studies of real crises involving sexual assault, freedom of speech, student protests, faculty misconduct, and a broad range of financial, social, and ethical issues, the book highlights and underscore key concepts around effective management of reputational risk. Ultimately, Preventing Crises at Your University serves as a wake-up call for all higher education leaders and board members.

Natural disasters, instability in the finance and banking sector, widespread social protests, and other crisis situations have increasingly become the focus of public attention. With the growing visibility of such events, accelerated by the rise and proliferation of social media, the study of risk and crisis management in the Internet age is of vital importance.Uncertainty and Catastrophe Management is a clear and comprehensive guide to a variety of crises, and seeks to offer practical advice on how best to avoid them, minimize loss and damage once they have occurred, and how best to recover from these situations. The book examines 104 cases that run the gamut from natural disasters such as the 2011 Tohoku earthquake and tsunami, to social movements like the Ukrainian protests in 2013, from the Syrian Electronic Army's cyber-attacks, to the reputational damage to firms in the wake of a corporate scandal.This book is a revised and expanded edition of Akira Ishikawa and Atsushi Tsujimoto's book, Risk and Crisis Management: 101 Cases, and explores a number of recent events. It draws on the expertise of the contributors to the volume to create a well-rounded book that will benefit professionals, academics, and the general public alike. In particular, safety professionals, public management professionals, CEOs, CIOs, students and researchers will appreciate its pragmatic approach to dealing with and recovering from crises in the interest of long-term survival and sustainability.

This book is about realistic solutions for the threat of zero-interest rates and excessive liquidity. Central banks do not print growth. The financial crisis was much more than the result of an excess of risk. The same policies that created each subsequent bust are the ones that have been implemented in recent years. This book is about realistic solutions for the threat of zero-interest rates and excessive liquidity. The United States needs to take the first step, defending sound money and a balanced budget, recovering the middle-class by focusing on increasing disposable income. The rest will follow. Our future should not be low growth and high debt. Cheap money becomes very expensive in the long run. There is an escape from the central bank trap.

This collection calls for improved technical communication for the public through an embodied, situated understanding of environmental risk that promotes social justice. In addition to providing a series of chapters about recent issues on risk communication, this volume offers a diverse look at methodological practices for students, researchers, and practitioners looking to address embodied aspects of crisis and risk that incorporate UX, storytelling, and dynamic text. It includes chapters that bring embodiment to the forefront of risk communication, highlighting the cycle of content creation, dissemination, public response and decision making, continuing iterations of educational efforts, and recovery, toward increasing adaptive capacity as a whole. In addition, this work directs necessary attention to overcoming perceptual difficulties, memory lapses, definitional differences, access issues, and pedagogical problems in the communication of risks to diverse publics. This collection is essential reading for scholars and can be used as a supplemental text or casebook for courses in technical communication, environmental communication, risk and crisis communication, science communication, and public health.