Operational Risk Control With Basel, II Basic Principles and Capital Requirements

Until quite recently in the finance industry, operational risk has taken the back seat to credit risk and market risk. However, this is changing. Prompted by the New Capital Adequacy Framework, by the Basel Committee on Banking Supervision, which becomes mandatory from January 1, 2006, financial institutions are now busy in: * Identifying the many types of operational risks with which they are confronted. * Reviewing regulatory guidelines and best practices prevailing in the banking industry for operational risk control. * Aiming to help themselves develop solutions for an effective longer term operational risk management. This book addresses itself to commercial bankers, investment bankers, loans officers, traders, treasurers, backoffice managers, internal and external auditors, consultants, and regulators. It provides factual and documented evidence of how financial institutions define operational risk, how and why they go beyond the more classical operational risk reasons like fraud, and which measures they take for their management. Another major issue the book covers in detail is technical risk and operational risk in the insurance industry. Risk factors are identified and the use of insurance policies to mitigate operational risk is analyzed in a factual and document manner.Chorafas, Dimitris N. is the author of 'Operational Risk Control With Basel, II Basic Principles and Capital Requirements' with ISBN 9780750659093 and ISBN 0750659092.