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Books > Business & Economics > Business & management > Management & management techniques > Management decision making
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Managing Operational Risk in Financial Markets (Hardcover)
Price: R811
Discovery Miles 8 110
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Managing Operational Risk in Financial Markets (Hardcover)
Expected to ship within 2 - 4 working days
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Risk Management is one of the biggest issues facing the financial
markets today. 'Managing Operational Risk in Financial Markets'
outlines the major issues for risk management and focuses on
operational risk as a key activity in managing risk on an
enterprise-wide basis.
While risk management had always been an integral part of
financial activity, the 1990s has seen the requirement for risk
management establish itself as a key function within banks and
other financial institutions. With greater emphasis on ensuring
that money is not lost through adverse market conditions,
counterparty failure or inappropriate controls, systems or people,
risk management has become a discipline in its own right. Managing
risk is now THE paramount topic within the financial sector.
Recurring major losses through the 1990s has shocked financial
institutions into placing much greater emphasis on risk management
and controls. The collapse of Barings and losses made by
Metallgescellschaft, Orange County, Diawa and Sumitomo as a result
of a lack of procedures, systems or managerial control has
demonstrated to organisations the need to broaden the scope of
their risk management activity from merely looking at market and
credit risk. This has brought into focus the need for managing
operational risk. Operational risk can only be managed on an
enterprise wide basis as it includes the entire process of
policies, culture, procedures, expertise and systems that an
institution needs in order to manage all the risks resulting from
its financial transactions. In fact, in order to effectively manage
market and credit risks it is necessary to have the relevant skills
and expertise in the staff, technical and organisational
infrastructure, as well as monitoring and control systems. As all
of these are components of operational risk, it then becomes
apparent that an integrated risk management approach needs to focus
on operational risk.
Provides a comprehensive framework for the management of
operational risk
Defines the spectrum of risks faced by organisations and how they
can effectively manage these
Develops an enterprise-wide risk information system and defines the
major challenges that need to be addressed in developing such a
system
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