Tesi: "Operational risk management"

1

Bärlocher, Christian. "Operational Risk Management und Anreizsysteme". St. Gallen, 2009. http://www.biblio.unisg.ch/org/biblio/edoc.nsf/wwwDisplayIdentifier/01648385002/$FILE/01648385002.pdf.

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Piaz, Jean-Marc. "Operational risk Management bei Banken /". Zürich : Versus, 2002. http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&doc_number=009595185&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA.

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3

Wolf, Elke. "IS risks and operational risk management in banks /". Lohmar : Eul, 2005. http://www.gbv.de/dms/zbw/480662231.pdf.

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4

Psarros, George Ad. "Operational risk management of bulk carriers". Thesis, University of Strathclyde, 2008. http://oleg.lib.strath.ac.uk:80/R/?func=dbin-jump-full&object_id=21970.

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The proposed study had been performed behind the premise of proposing a methodology for estimating the current operational risk of bulk carriers. Hence, a high level risk assessment has been conducted for evaluating the safety performance of dry bulk cargo transportation. This included the preparatory step for setting the problem's boundary limits, hazard identification for the prioritization of causes and effects, risk analysis for the quantification of risks and risk evaluation for assessing the significance and the acceptability of the estimated risk. The relevant aspects that are taken into account consist of the vessel's function (carriage of payload), operational phase (ocean transit), external (weather conditions, routeing) and internal (cargoes) influences, accident category (foundering) and the risk associated with crew (fatalities) and property (loss of vessel and cargo). Apparently, many factors were competing for attracting attention, and therefore, the Pareto principle was applied for narrowing the analysis where corrosion was identified as a main situation of causing harm. The attached uncertainty in the aforementioned operational domain is dealt with the Bayesian Networks technology and concurrently the construed prioritization to corrosion is verified by the developed risk model. The estimated risk was found As Low As Reasonably Practicable and the potential of improvement is considered by addressing preventive (design) and mitigating (operational) measures. Furthermore, their effectiveness as action implementing risk management decision is illustrated by employing Life Cycle Cost Analysis, a decision making technique for exploiting different investment opportunities.

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Stan-Maduka, Edna Ijeoma. "Operational risk management : determination of causal relationships and interdependencies of operational risk events". Thesis, University of East London, 2010. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.533016.

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The Basel II capital adequacy framework constitutes a very comprehensive regulatory approach to risk assessment in banks. A special feature of this new accord is that it is not only targeting banks' financial risk exposures in terms of credit risks and market risks, the scope has been widened to also explicitly incorporate banks' exposure to operational risks in the capital adequacy requirement. For banks this novelty means a major change. Unless they choose to use the highly unsophisticated basic indicator approach or the standardized approach proposed in the new Basel accord, it will put significant pressure on them to develop and design appropriate internal risk management frameworks and systems. This research explores banks' operational risk mitigation under Basel II in Nigeria. The overall aim is to propose, test and validate a detailed framework for operational risk mitigation and to determine the causal relationships and interdependencies of operational risk events. The research utilised information derived from qualitative risk analysis, questionnaires and interviews administered to operational risk experts selected from Nigerian banks. The data analysis used `Statplus' an excel based software for the determination of variances and correlations. The first category of findings revealed that (1) Nigerian banks do not have adequate frameworks to mitigate risks (2) the banks do not monitor key- risk indicators within their business lines and thirdly (3) there is no structured approach to operational risk management within Nigerian banks. The second category of findings from expert opinion suggested a significant relationship between individual key risks and operational loss events. The results also confirmed a relationship between a bank's overall approach to risk management, and its strategic objectives on risk mitigation given the interdependence of operational risk factors and sub-factors. The framework proposed, tested and validated in this research is both diagnostic and predictive in its approach to operational risk mitigation. It is expected that this framework will fill the gap which is existing within the Nigerian financial sector in terms of an adequate framework for operational risk mitigation.

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Kallenberg, Kristian. "Business at risk : four studies on operational risk management". Doctoral thesis, Stockholm : Economic Research Institute, Stockholm School of Economics (EFI), 2008. http://www2.hhs.se/efi/summary/776.htm.

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Pitinanondha, Thitima. "Operational risk management (ORM) systems - An Australian study". Electronic version, 2008. http://hdl.handle.net/2100/600.

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University of Technology, Sydney. Faculty of Engineering.
In today’s business environment, increased competition, market globalisation, increased customer demands and accelerated technologies require organisations to focus on efficiency in every aspect of their operations. Many studies in operations management have focused on the improvement of operational performance, including reduction of process variability, increasing flexibility or implementing controls in operations. However, managing the risk in operations seems to have been neglected by researchers. Hence, there are two major objectives of this study. The first objective is to investigate the use of the operational risk management (ORM) systems in Australia and study the factors that have an impact on effective operational risk management. Then, based on the identified factors, the second objective is to develop an ORM system implementation model and guideline for Australian organisations. A review of the ORM systems and its implementation was conducted. As a result of this investigation, a definition of ORM system in this study was formulated and the factors of effective ORM system implementation were identified as a basis for the next stage of this study. An investigation of the factors of ORM system implementation was then carried out. An extensive questionnaire survey was used to collect empirical data from Australian organisations. Statistical analysis results and feedback from experts was used to develop an applicable model and guideline for ORM system implementation. The main outcome of this study is a proposed model and guideline for ORM system implementation in Australian organisations, which will assist the organisation to manage operational risks more effectively and provide motivation for carrying out further research in ORM.

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JUNIOR, JOSE LUIS COUTO LYRA. "SOFTWARE IMPLEMENTATION FOR OPERATIONAL RISK MANAGEMENT SUPPORT". PONTIFÍCIA UNIVERSIDADE CATÓLICA DO RIO DE JANEIRO, 2005. http://www.maxwell.vrac.puc-rio.br/Busca_etds.php?strSecao=resultado&nrSeq=7631@1.

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PONTIFÍCIA UNIVERSIDADE CATÓLICA DO RIO DE JANEIRO
O gerenciamento de risco em instituições bancárias, mais do que mera imposição das agências reguladoras distingue-se como fator de sucesso na melhoria dos processos, aumentando o resultado financeiro. Após o Acordo da Basiléia, a gerência de riscos de mercado e de crédito, cuja atuação se dá sobre as receitas, passou a ser realizada. Entretanto, alguns riscos atuam sobre as despesas, destacando-se o operacional, que é o risco de perdas oriundas de problemas com controles internos, sistemas, pessoas e eventos externos. O objetivo deste trabalho foi elaborar uma revisão abrangente da literatura e um protótipo de sistema computacional que permite medir o VaR do risco operacional de uma unidade de risco, utilizando o Modelo de Distribuição de Perdas (LDA), e aplicar modelos causais que expliquem estas perdas. Este protótipo é uma aplicação Internet/intranet desenvolvida na linguagem ASP e utilizou o MS-Access como banco de dados. Para os cálculos estatísticos, implementou-se uma interface de comunicação aplicação/MATLAB. A revisão da literatura objetivou a familiarização com conceitos básicos de risco operacional descritos pelo Comitê da Basiléia. Adicionalmente, apresentou detalhes técnicos para implementação do LDA, tais como Distribuição de Freqüência e de Severidade, métodos para determinação da distribuição de perdas operacionais e construção da base de dados de perdas. Independente das particularidades institucionais, esse protótipo permite a visualização das providências estratégicas e operacionais a serem tomadas para implementação e implantação de um sistema similar. Marca um ponto de partida para o desenvolvimento de um produto abrangente de gerenciamento de risco operacional nas mais variadas instituições e segmentos de mercado.
The risk management in financial institutions, more than just an imposition of the regulatory agencies, represents a success factor in the processes enhancement, elevating the financial results. After Basel Accord, credit and market risks management, which acts over earnings, were implemented. However, some risks are associated to the expenses, such as the operational risk, related to the losses from internal control, systems, human and external events problems. The aim of the present study was the elaboration of an extensive literature review and the development of a computation system prototype able to measure the operational risk VaR of a risk unit, using the Loss Distribution Approach (LDA) and to apply causal models that explain these losses. This prototype is an Internet/intranet application developed in ASP language, using MS-Access as database. For statistical evaluation, an interface between the application and MATLAB was implemented. The literature review pretended to give a better understanding of the basic concepts of operational risk described by the Basel Committee. In addition, it presented technical details for LDA implementation, such as Frequency and Severity Distribution, methods for the distribution of the operational losses determination and losses database construction. Independent of institutional peculiarities, this prototype allows the observation of strategic and operational providences to be taken for implementation and implantation of a similar system. It determines a startingpoint in the development of an operational risk management product valuable in several institutions and market segments.

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9

Snyman, Philippus. "Risk–based capital measures for operational risk management / Snyman P". Thesis, North-West University, 2011. http://hdl.handle.net/10394/7573.

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Basel II provides banks with four options that may be used to calculate regulatory capital for operational risk. Each of these options (except the most basic approach) requires an underlying risk measurement and management system, with increasing complexity and more refined capital calculations under the more advanced approaches. Approaches available are BIA, TSA, ASA and AMA. The most advanced and complex option under Basel II is the AMA. This approach allows a bank to calculate its regulatory and economic capital requirements (using internal models) based on internal risk variables and profiles, rather than exposure proxies like gross income. This is the only risk–sensitive approach allowed by and described in Basel II. Accompanying internal models, complex and sophisticated measurement instruments, risk management processes and frameworks, as well as a robust governance structure need to be implemented. This study focuses on the practical design and implementation of an AMA capital model. This includes a beginning–to–end solution for capital modelling and covers all elements of data analysis, capital calculation and capital allocation. The proposed capital model is completely risk–based, leading to risk–sensitive capital calculations and allocations for all business lines in a bank. The model was constructed to comply fully with all Basel II requirements and standards. The proposed model was subsequently applied to one South African bank’s operational risk data, i.e. risk scenario and internal loss data of the bank were used as inputs into the proposed capital model. Regulatory capital requirements were calculated for all business lines in the bank and for the bank as a whole on a group level. Total capital requirements were also allocated to all business lines in the bank. For regulatory capital purposes, this equated to the stand–alone capital requirement of each business line. Calculations excluded the modelling and incorporation of insurance, expected loss offsets and correlation. These capital mitigation techniques were, however, proposed as part of the comprehensive capital model. AMA based capital calculations for the bank’s business lines resulted in significant capital movements compared to TSA capital requirements for the same calculation periods. The retail banking business line was allocated less capital compared to corresponding TSA estimates. This is mainly attributable to lower levels of tail risk exposure given high income levels (which are the bases for TSA capital calculations). AMA–based capital for the investment banking business line was higher than corresponding TSA estimates, due to high levels of extreme risk exposure relative to income generated. Employing capital modelling results in operational risk management and performance measurement was discussed and proposals made. This included the use of capital requirements (modelling results) in day–to–day operational risk management and in strategic decision making processes and strategic risk management. Proposals were also made on how to use modelling results and capital allocations in performance measurement. It was proposed that operational risk capital costs should be included in risk–adjusted performance measures, which can in turn be linked to remuneration principles and processes. Ultimately this would incentivise sound operational risk management practices and also satisfy the Basel II use test requirements with regards to model outputs, i.e. model outputs are actively used in risk management and performance measurement.
Thesis (Ph.D. (Risk management))--North-West University, Potchefstroom Campus, 2012.

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Movshyn, Ludmilla. "Key risk indicators im Management operationeller Risiken". Frankfurt am Main Bankakad.-Verl, 2004. http://deposit.ddb.de/cgi-bin/dokserv?id=2650676&prov=M&dok_var=1&dok_ext=htm.

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11

Movshyn, Ludmilla. "Key risk indicators im Management operationeller Risiken /". Frankfurt am Main : Bankakad.-Verl, 2005. http://deposit.ddb.de/cgi-bin/dokserv?id=2650676&prov=M&dok_var=1&dok_ext=htm.

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12

Vickman, Sara. "Vidareutveckling av SAFOR : En utredning av ramverket SAFOR för operationell risk inom banker". Thesis, Mittuniversitetet, Institutionen för informationsteknologi och medier, 2011. http://urn.kb.se/resolve?urn=urn:nbn:se:miun:diva-14472.

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Operationell risk inom banksektorn är ett område under utveckling. Utredningen har behandlat ett ramverk för hantering av operationell risk kallat A Systemic Approach Framework for Operational Risk (SAFOR). Syftet har varit att konkretisera detta ramverk och inom detta utvärdera en metod kallad Damage Evaluation and Effective Prevention (DEEP-metoden) i kombination med ett datoriserat beslutsverktyg benämnt DecideIT. SAFOR hanterar operationell risk som är nära kopplat till företagets processer, personer och system. Dess utformning grundar sig i general system theory, en holistisk verksamhetssyn som minskar risken för överlappning mellan olika riskhanteringsområden. Ramverket är uppde-lat i fyra moduler som hanterar identifiering av risker och riskhanter-ingsstruktur, värdering av olika handlingsalternativ, hantering av riskmått och intervalluppskattningar. DEEP-metoden hanterar identifie-ring av risksituationen och rangordning av olika framtidscenarier. Beslutsverktyget DecideIT är en implementering av DELTA metoden som hanterar intervallskattningar av sannolikheter och värden tillsammans med känslighetsanalyser. Utredningen har genomförts genom litteratur-studie och eget test. Resultatet visar en ökning av ramverkets tillämp-barhet genom införandet av ett processperspektiv där en kartläggning av arbetsflödet visar att DEEP-metoden berör flera moduler inom ramverket. Vid närmare beaktan av ramverkets osäkerhetsmodul klargörs dess syfte till rangordning av alternativ för beslutstagande. Metod och beslutsverktyg inom osäkerhetsmodulen bör hantera osäker-heter, framtidscenarier och vara lättanvänt. Detta visar sig stämma för DEEP-metoden och DecideIT när tillämpbarhetstest utförs. SAFOR anses fungera som grund för helhetsförståelse. Ramverket kan sedan implementeras genom för verksamheten passande metod vilket ökar flexibiliteten mot olika typer av organisationer. Målen för studien anses vara uppfyllda. Fortsatt arbete finns i utformning av tydligare avgräns-ning mellan ramverkets moduler och testning av metoder inom dessa.
The investigation deals with a framework named A Systemic Approach Framework for Operational Risk (SAFOR). The aim is to concretize SAFOR and Evaluate the proposed method of Damage Evaluation and Effective Prevention (DEEP) in combination with the decision tool DecideIT. SAFOR deals with operational risk which is linked to the company's processes, people and systems. The framework is based on a holistic approach, which reduces overlap in risk management and consists of four modules which deal with; identification of risk and risk manage-ment structure, risk-reducing alternatives, risk measurement and interval estimates. The DEEP-method handles Identification of risk and Evalua-tion of future scenarios. DecideIT implements the DELTA-method which handles interval assessments for probabilities and values together with Sensitivity Analysis. The investigation was by Literature Studies and a test. A process perspective is proposed to increase the applicability of SAFOR. It discovered that the DEEP-method intersects the framework´s modules. Investigation of the framework´s uncertainty module reveals its aim to sort decision alternatives and that the method and decision tool applied in it should deal with uncertainties, future scenarios and be easy to use. This proved to be true for the DEEP-method and DecideIT by a test. SAFOR is suited to be a source for understanding the whole-ness and various methods can be implemented inside the framework to increase flexibility. The objective of the study is achieved but there is a need for further effort with interfaces and Testing methods within the framework.

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Österlund, Joakim, e Rasmusson Jens. "Sensemaking Operational Risk Manager : a qualitative study on how to become successful as an operational risk manager in the Swedish financial sector". Thesis, Uppsala universitet, Företagsekonomiska institutionen, 2019. http://urn.kb.se/resolve?urn=urn:nbn:se:uu:diva-388955.

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This research sheds light on the nature of the role of the operational risk controller in the financial services industry. The focus is on understanding how operational risk controllers interact with different layers of the organisation and become influential with the business lines and senior management. Nine semi-structured interviews were conducted with operational risk controllers, and it was found that their work is becoming increasingly focused on managing people with a view to creating mutual understanding. To achieve this, operational risk controllers should work more as independent facilitators in their interactions with the first line and senior management, as engaged toolmakers when adapting and reconfiguring tools, and as non-financial risk controllers when attempting to enable business leaders to understand the magnitude of operational risks.

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Esterhuysen, Ja'nel Tobias. "The management of operational risk in South African banks / by Ja'nel Esterhuysen". Thesis, North-West University, 2003. http://hdl.handle.net/10394/423.

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One of the biggest problems South African banks are experiencing when managing operational risk is the lack of a single definition for operational risk. Operational risk can take many forms; for example computer system failure, the malfunction of an ATM or in same instances the long queues at a bank can be an operational risk It is clear that banks lack sufficient information to distinguish between different operational risk events as well as other risk events like credit risk, market risk, etc. In other words, banks are experiencing great difficulties with the identification of operational risk in South Africa The study therefore aims to determine and construct a single definition of operational risk that will be sufficient for the assessment of operational risk management in South Africa. The study also aims to examine the existing as well as the possible methods to identify, quantify and measure operational risk The main goal of this study is therefore to investigate the feasibility of capital provisions as a way of managing operational risk in South African banks, in other words the viability of the New Basel Capital Accord on South African banks. The methodology used includes a literature review, in-depth interviews and a case study on South African Retail Bank to determine and evaluate some of the most renowned indicators of operational risk in South Africa. The first objective was to determine a single definition of operational risk in South Africa. As mentioned, South African banks are having great difficulties to find a single definition of operational risk and this is causing problems in identifying operational risks in South Africa. It is the view of this study that the Basel Committee's definition is not sufficient enough for operational risk management in South Africa; therefore there is a great need to find a single definition of operational risk in South African banks. The second objective is to provide an overview of the Base1 Committee and its Capital Accord, by focusing on one of the outstanding changes to the existing accord, which is the proposed explicit capital requirement for operational risk. It has been established that the Base1 Capital Accord is widely adopted around the world. Consequently, from the viewpoint of being competitive, it is to the advantage of a bank to adhere to the prescriptions of the Base1 Capital Accord. However, to stay relevant, the Basel Capital Accord was due for a review. The Basel Committee released a proposal to replace the existing Basel Capital Accord with a more. risk sensitive framework. The new framework intends to improve safety and soundness in the financial system by placing more emphasis on banks' own internal control and management, the supervisory review process, and market discipline. The third objective of this research was to present the theory of asset and liability management (ALM) within the unifying theme of operational risk management. It was indicated that capital is used to absorb an operational risk loss. The Asset and Liability Committee (ALCO) is responsible for the strategic management of a bank's balance sheet, therefore also ALM, and as capital forms part of the banks balance sheet, it is also the responsibility of the ALCO to manage the capital that is used as provision for an operational risk. The fourth objective was to determine and evaluate the key risk indicators of operational risk in South Africa theoretically and then also by means of a case study on a South African Retail Bank and then to made some recommendations regarding the effective identification of the key indicators of operational risk in South Africa. It was indicated the challenge in identifying key operational risk indicators is to find indicators that is not only business-specific but are also fm wide indicators of operational risk. Recommendations on the effective identification of key operational risk indicators were made.
Thesis (M.Com. (Economics))--North-West University, Potchefstroom Campus, 2004.

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Wang, Letian. "Global supply chain risk management through operational and financial hedges". Thesis, McGill University, 2010. http://digitool.Library.McGill.CA:80/R/?func=dbin-jump-full&object_id=95041.

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This thesis comprises two papers that investigate the impact of operational and/or financial hedging on risk management in a global supply chain environment. The problems are derived from the current climate in which many North American firms are heavily contracting overseas suppliers located in China, India, Vietnam and other countries. The theoretical and numerical results obtained in this thesis provide managerial insights to mitigate demand and exchange rate risks in outsourcing in the event that firms are risk averse. The first paper studies operational hedging strategy for firms that face both exchange rate and demand uncertainties. Operational hedging comes in the form of real option to switch production between domestic suppliers and offshore outsourcing suppliers. It demonstrates that these firms benefit from maintaining capacities with both suppliers. The value of the operational option increases as the exchange rate uncertainty or demand uncertainty increases. In addition, when firms become risk-averse, they may use domestic capacity as a hedge against offshore capacity. As a result, the firms may choose to sustain local capacity even if it exhibits negative marginal contribution to the profit. Furthermore, risk-averse firms may retain more total capacity than risk-neutral firms. The second paper expands on the first paper by including financial hedging strategy. It studies a capacity planning problem in which a risk-averse firm plans to reserve capacities with potential suppliers located in multiple countries to hedge demand and exchange rate risks. It provides both analytical and numerical results from a general model with n suppliers, as well as a special case with two suppliers in China and Vietnam. With financial hedging, the risk-averse firm has access to financial markets so that it is able to adjust capacity and production allocation decisions conditional on financial information, the result of which always increases optimal utility. In general
La thèse consiste en deux papiers qui étudient l'impact de la couverture opérationnelle et/ou financière sur la gestion du risque dans la chaine de distribution globale. Les problèmes proviennent du fait que beaucoup de firmes nord-américaine sous-contracte une bonne partie de leurs opérations à des fournisseurs situé outre-mer, notamment en Chine, en Inde, au Vietnam ainsi que dans d'autres pays. Les résultats théoriques et numériques obtenu dans cette thèse donnent un aperçu des méthodes de gestion pour mitiger le risque de demande et le risque de taux de change, lors de la sous-traitance à des firmes situés à l'étranger. Le premier papier étudie les stratégies de couverture opérationnelles pour les firmes qui font face à la fois à des incertitudes sur le taux de change et sur la demande. La couverture opérationnelle se présente sous la forme d'une option réelle de changer la production entre des fournisseurs locaux et outre-mer. Nous démontrons que les firmes bénéficient à conserver des capacités de production avec les deux types de fournisseurs. La valeur de l'option opérationnelle augmente avec l'incertitude sur les taux de change et sur la demande. De plus lorsque les firmes sont averse au risque, elles peuvent utilisées les capacités locales pour se couvrir contre les capacités outre-mer. Il en résulte que les firmes peuvent choisir de maintenir la capacité locale même si elle montre une contribution marginale négative au profit. De plus des firmes averses au risque peuvent maintenir encore davantage de capacité. Le deuxième papier étend le premier papier and incluant les stratégies de couverture financière. Dans ce papier nous étudions les problèmes de planification de la capacité de production, dans lesquels les firmes planifient de réserver des capacités de production avec des fournisseurs potentiels situés dans plusieurs pays afin de se couvrir contre le risque de demande et de taux de change. Nous off

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Reddy, Harry 1963. "Financial supply chain dynamics : operational risk management and RFID technologies". Thesis, Massachusetts Institute of Technology, 2005. http://hdl.handle.net/1721.1/33729.

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Thesis (M. Eng. in Logistics)--Massachusetts Institute of Technology, Engineering Systems Division, 2005.
Includes bibliographical references (leaves 81-83).
The banking industry is consolidating to streamline its operations through mergers and acquisitions, and is adopting new technologies to develop innovative products and services, thereby achieving both economies of scale and scope. Operational risk management has become a serious issue in the banking industry. Some reputed banks are either forced to close down their operations (eg., Citibank Private Bank in Japan) or faced cost overruns (eg., Barings Bank in England) due to poor operational risk management. In the supply chain industry, businesses are engaged in devising effective solutions using RFID technologies to locate and track the goods. We present the dynamics of banking industry in terms of operational risk management, innovation and business strategies. We also present the process mapping of RFID technology use in banking business areas to minimize operational risks. We further come-up with an effective operational risk management framework for banks to follow in improving their operational risk management.
by Harry Reddy.
M.Eng.in Logistics

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Esterhuysen, Ja'nel Tobias. "The management of operational value at risk in banks / Ja'nel Esterhuysen". Thesis, North-West University, 2006. http://hdl.handle.net/10394/1676.

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Bashlai, S., e O. Podoliaka. "Operation risk management of the bank". Thesis, Таврический национальный университет им. Вернадского В.И, 2010. http://essuir.sumdu.edu.ua/handle/123456789/60122.

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The of these deals with actual question of implementation of risk-oriented approach to corporate; methods of evaluation of operational risks, the procedure for coordination and approval procedures for operations, general requirements for the control procedures are in banks of Ukraine
Тези присвячені актуальнім питанням впровадження ризик-орієнтованих підходів до корпоративного управління; визначенню методик оцінки операційних ризиків, порядку погодження та затвердження процедур проведення операцій, загальним вимогам до контрольних процедур в банках України.

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Smit, Charmaine. "Measuring operational risk in the ALCO process / by Charmaine Smit". Thesis, North-West University, 2008. http://hdl.handle.net/10394/2318.

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20

Schutte, Juane. "The role of an administrator in hedge fund operational risk management". Thesis, Nelson Mandela Metropolitan University, 2008. http://hdl.handle.net/10948/891.

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With the financial crisis of 2008 and more retirement funds and insurance companies entering the hedge fund industry, the safety of investor assets has become vital. According to a worldwide study by Kundro and Feffer (2002:42), operational risk factors account for almost half of hedge fund failures. The issues that underlie the operational risk factors relate to valuation of the fund’s assets and liabilities. Unless certain valuation practices become more widespread, hedge funds face a potential crisis of confidence with institutional and high net worth investors (Kundro and Feffer, 2002:42). Despite the improvements made by administrators to deal with the complexities of hedge fund investments, the accuracy of some valuations remains open to question (McVea 2008:135). Hedge fund manager inputs into valuations compromise the degree of independence exercised, particularly with regard to complex and/or illiquid instruments. The perception that administrators lack the required technical expertise to value complex and/or illiquid assets exacerbates the issue of administrator’s reliability to provide independent valuations. Therefore, the reliance on administrators to guarantee the quality of valuations of complex instruments is in question. The aim of the study was to identify ways to improve operational risk management practices, particularly valuations, in hedge funds through identifying ways of promoting effective functioning of independent third-party administrators. This was achieved through a case study approach using a South African leading administrator, Investment Data Services, as the object of study. The literature highlighted the changing functions of administrators, the challenges facing them and ways of addressing those challenges. The empirical study measured the extent of IDS’ valuation practices in managing operational risk in hedge funds. Four key members of IDS’ management team and one hedge fund manager with considerable insight were interviewed. The data obtained was then reduced into meaningful results. The empirical findings were compared with the theory provided in the literature scrutiny to identify ways of improving the valuation function. The conclusion was that the challenges faced by the administrator were addressed through proper independence, consistency and transparency of the valuation process. A crucial cog in IDS’ wheel is the employment of staff with the required technical skills to understand complex financial instruments. In addition, investment in advanced systems and technology is important in managing the risks involved. Consequently, IDS’ valuation practices can be used as template for other administrators in their efforts to manage the operational risks in hedge funds.

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Larrimore, Nancy Page. "Risk Management Strategies to Prevent and Mitigate Emerging Operational Security Threats". ScholarWorks, 2018. https://scholarworks.waldenu.edu/dissertations/4866.

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Dependence on technology brings security compromises that have become a global threat that costs businesses millions of dollars. More than 7.6 million South Carolinians incurred effects from the 162 security breaches reported in 2011-2015. The purpose of this multiple case study was to explore the risk management strategies small business leaders use to prevent and mitigate operational security threats that produce financial losses. The population for this study consisted of 6 business leaders in South Carolina who have demonstrated successful experience in preventing and mitigating operational security threats. Transformational leadership theory provided the conceptual framework for exploring the overreaching research question. Data collection consisted of semistructured interviews with each participant and the collection of company documents that pertained to security procedures, audits, and reviews. Conducting semistructured interviews allowed participants to provide details of real-life experiences. Recorded interviews and transcriptions were analyzed through Moustakas's modified van Kaam method of analysis to identify emerging topics. The 4 themes that emerged were: (a) operational security training and awareness, (b) operational security culture and behavioral effects, (c) operational security policy and compliance, and (d) operational security challenges and risk management. By developing strategies and processes that reflect these themes, small business leaders can reduce financial losses to improve profitability and reduce unemployment, achieving social changes that can benefit society as a whole.

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22

van, Zyl Stephan. "Time-in-state metric as operational risk management tool for a mining operation : a case study". Diss., University of Pretoria, 2015. http://hdl.handle.net/2263/52344.

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Globalization and the advent of major industrial disasters have highlighted the need for capital intensive industries to remain competitive and profitable. In order to achieve this, companies have had to focus on mitigating operational risk. Two aspects of operational risk management involve assets and process. Both of these have particular importance to capital intensive industries. The mining industry still plays an important role in the global and national economy. It is considered a capital intensive industry and is faced with a number of challenges. It is of particular importance to this industry that operational risk be mitigated. The Time-in-State Metric (TISM) has been designed as a tool to mitigate operational risk, by means of improving process and asset performance. The TISM presents an overarching metric that delivers a method to manage the process and equipment pro-actively at systems level because the metric is generated in real time, is focused in key operating and equipment parameters, and generates a consistent response recommendation that aligns the operating philosophy of the operational personnel. The TISM has been successfully developed and implemented at Nkomati Mine, a nickel producing operation in the Mpumalanga Province of South Africa. This will be utilised as a case study to understand the development and implementation process and to evaluate the impact the TISM has had on the process and asset performance of the operation. Nkomati Mine has seen a significant improvement in its asset performance, with improvements in availability, utilization, reliability, Overall Equipment Effectiveness (OEE) Mean-Time-Between-Failure (MTBF), Mean-Time-to-Restore (MTTR) and the number of failure incidents. Nkomati Mine has also seen a significant improvement in the process performance. Directly after implementation of the TISM there has been an improvement in feedrate and recovery of nickel. Over the long term, Nkomati Mine has seen improvement in all major performance parameters, including throughput, feedrate, recovery and final concentrate grade. The TISM has been proven to have a positive impact on the bottom-line of the organization (reduced maintenance cost, improved production, reduced off-mine cost, etc.) and to mitigate Operational Risk.
Mini Dissertation (MBA)--University of Pretoria, 2015.
sn2016
Gordon Institute of Business Science (GIBS)
MBA
Unrestricted

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23

Nyathi, Mandla. "A cost benefit analysis of operational risk quantification methods for regulatory capital". Master's thesis, University of Cape Town, 2016. http://hdl.handle.net/11427/21756.

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Operational risk has attracted a sizeable amount of attention in recent years as a result of massive operational losses that headlined financial markets across the world. The operational risk losses have been on the back of litigation cases and regulatory fines, some of which originated from the 2008 global financial crisis. As a result it is compulsory for financial institutions to reserve capital for the operational risk exposures inherent in their business activities. Local financial institutions are free to use any of the following operational risk capital estimation methods: Advanced Measurement Approach (AMA), the Standardized (TSA) and/ the Basic Indicator Approach (BIA). The BIA and TSA are predetermined by the Reserve Bank, whilst AMA relies on internally generated methodologies. Estimation approaches employed in this study were initially introduced by the BCBS, largely premised on an increasingly sophisticated technique to incentivise banks to continually advance their management and measurement methods while benefiting from a lower capital charge through gradating from the least to the most sophisticated measurement tool. However, in contrast to BCBS's premise, Sundmacher (2007), whilst using a hypothetical example, finds that depending on a financial institution's distribution of its Gross Income, the incentive to move from BIA to TSA is nonexistent or marginal at best. In this thesis I extend Sundmacher (2007)'s work, and I test one instance of AMA regulatory capital (RegCap) against that of TSA in a bid to crystalise the rand benefit that financial institutions stand to attain (if at all) should they move from TSA to AMA. A Loss Distribution Approach (LDA), coupled with a Monte Carlo simulation, were used in modelling AMA. In modelling the loss severities, the Lognormal, Weibull, Burr, Generalized Pareto, Pareto and Gamma distributions were considered, whilst the Poisson distribution was used for modelling operational loss frequency. The Kolmogorov-Smirnov and Akaike information criterion tests were respectively used for assessing the level of distribution fit and for model selection. The robustness and stability of the model were gauged using stress testing and bootstrap. The TSA modelling design involved using predetermined beta values for different business lines specified by the BCBS. The findings show that the Lognormal and Burr distributions best describes the empirical data. Additionally, there is a substantial incentive in terms of the rand benefit of migrating from TSA to AMA in estimating operational risk capital. The initial benefit could be directed towards changes in information technology systems in order to effect the change from TSA to AMA. Notwithstanding that the data set used in this thesis is restricted to just one of the "big four banks" (owing to proprietary restrictions), the methodology is representable (or generalisable) to the other big banks within South Africa. The scope of this study can further be extended to cover Extreme Value Theory, Non-Parametric Empirical Sampling, Markov Chain Monte Carlo, and Bayesian Approaches in estimating operational risk capital.

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24

Rad, Alexander. "Bank risk management : How do bank employees deal with risk at the strategic and operational levels?" Doctoral thesis, Mittuniversitetet, Avdelningen för ekonomivetenskap och juridik, 2017. http://urn.kb.se/resolve?urn=urn:nbn:se:miun:diva-30734.

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25

Mabwe, Kumbirai. "Investigating the significance of people risk in the context of operational risk management in UK banks". Thesis, Glasgow Caledonian University, 2015. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.687412.

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The aim of this thesis is to investigate operational risk management with a special emphasis on people risk. The motivation to implement research in this particularly challenging area of risk management is twofold: Firstly, the increasing magnitude of operational losses as a result of people over the last decade and their negative effect on the banking industry. Secondly, literature on operational risk in banking has focused on measurement of operational risk and capital adequacy, and is therefore inconclusive on several vital questions regarding the qualitative elements of operational risk, particularly people risk management. By way of interviewing operational risk managers, junior bank operatives and operational risk consultants with regard to operational risk management in general and people risk in particular, this thesis contributes to the existing research on operational risk in several ways. This study enhances understanding of the effect of the limited definitions, processes and practice with regard to both operational risks in general and people risk in particular. The study also provides a detailed account of the regulatory influence on ORM and also draws attention to the role of the Board and senior management particularly the tone at the top and in the process highlights, the difference between what they say and what they do, and the effect that this has on operational risk and people risk management. The current study also extends present understanding in relation to the contradictions between the three lines of defence in theory, and as discussed in the industry, and in the process also highlight how it operates (or does not) in practice. In particular the study identifies and examines the development of sub-lines of defence (la and Ib) which are filling gaps within the three lines of defence, particularly the qualitative elements and specifically people risk. More importantly the study proposes and examines a framework for people risk management and in the process also proposes an intermediary people risk management function which sits in the three lines of defence and, is staffed by human resources and operational risk which are currently managing elements of people risk separately.

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26

Moeti, Phokoile Daniel. "Analysis of the composition of emerging enterprise risk management practice in the context of managing operational risks in the fast changing business world". Thesis, Stellenbosch : Stellenbosch University, 2004. http://hdl.handle.net/10019.1/49831.

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Thesis (MBA)--Stellenbosch University, 2004.
Some digitised pages may appear illegible due to the condition of the original hard copy
ENGLISH ABSTRACT: The complexity of modern business requires that all managers be, at least, partially responsible for strategic risk management. Therefore, all managers must have an awareness of the business direction of the organisation as a whole; that is, the corporate and business strategy. Companies embark on this journey to ensure their future existence. In this regard, having a risk management strategy allows a company to visualise and aim for its future, because such strategy guides decisions on the allocation of resources throughout the organisation. The risk management strategy encapsulates both desired goals and beliefs about what are acceptable and, most critically, unacceptable means of achieving them. To achieve the above, the ineptitude of traditional risk management strategy rarely seems to dictate unique structural solutions. Rather, the crucial factors in the operational risks processes are most often those of execution and continuous adaptation; of getting things done, and staying flexible. In addition, and to a very large extent, this means going far beyond strategy, to issues of organising structure, people, and the like. Given the historical development arising from the academic and insurance background and its inefficacy in dealing with the array of risks in the fast changing business environment, it is therefore important that risk management be embedded in every aspect of the management structure in an organisation for it to deal holistically with all risks facing it. The major challenge, however, is how to free risk management from the specialist "silos" of academia and insurance that have hindered its growth since inception. The approach of this research study is motivated by a desire to address this challenge. To do so, it employs two scientific research methods, first, to provide basic knowledge of concepts in view of expanding the existing basic knowledge and contribute to the literature of risk management at large by describing its evolution into a modern risk management now known as enterprise risk management, and, second, to use the applied research method in focusing on the specific problem of knowing how to translate theoretical aspects of risks management into business solutions within the context of managing operational risks. This is done by illustration using South African Airways as a Case Study. In view of the above, the aim of this research study is to show how practically to liberate risk management from the clutches of academia and insurance and to give risk management strategic significance at senior management level and tactical significance at operational level within the aforementioned modern technique of enterprise risk management.
AFRIKAANSE OPSOMMING: Die ingewikkeldheid van moderne besigheid vereis dat alle bestuurders ten minste gedeeltelik vir strategiese risikobestuur verantwoordelik is. Daarom moet alle bestuurders bewus wees van die besigheidsrigting van die organisasie as geheel; dit is, die korporatiewe en besigheidstrategie. Maatskappye pak dié reis aan om hul bestaan in die toekoms te verseker. 'n Risikobestuurstrategie stel 'n maatskappy in staat om die toekoms te visualiseer en daarheen te mik, want dié strategie lei besluite oor die toekenning van hulpbronne regdeur die maatskappy. Die risikobestuurstrategie behels die verlangde doelwitte, en die oortuigings van wat aanvaarbaar en wat, uiters belangrik, onaanvaarbaar is om die doelwitte te bereik. Om die bogenoemde te bereik wil dit voorkom of die ongepastheid van tradisionele risikobestuurstrategieë selde unieke strukturele oplossings voorskryf. Die beslissende faktore in bedryfsrisiko-prosesse is gewoonlik uitvoering en voortdurende aanpassing; om dinge te laat gebeur en buigsaam te bly. Daarmee saam, en tot 'n baie groot mate, beteken dit om verby die strategie te beweeg na aangeleenthede van struktuur, mense en dies meer. Gegewe die historiese ontwikkeling van die akademiese en versekeringsagtergrond en die onvermoë om 'n verskeidenheid risiko's in 'n vinnig veranderende sake-omgewing te hanteer, is dit belangrik dat riskobestuur in elke aspek van die bestuurstruktuur van 'n organisasie vervat word. Dit sal verseker dat die organisasie dreigende risiko's holisties benader. Die grootste uitdaging is egter hoe om risikobestuur los te maak van die "spesialissilas" van die akademie en versekering, wat die groei daarvan sedert sy ontstaan belemmer het. Die benadering van dié navorsingstudie word gemotiveer deur 'n behoefte om dié uitdaging aan te pak. Om dit te doen, word twee wetenskaplike navorsingsmetodes gebruik. Eerstens, om basiese kennis te verskaf oor konsepte om die bestaande basiese kennis uit te brei en by te dra tot die literatuur van risikobestuur. Dit word gedoen deur die evolusie hiervan tot moderne risikobestuur, nou bekend as ondernemingsrisikobestuur, te beskryf. Tweedens, om die toegepaste navorsingsmetode te gebruik om te fokus op die spesifieke probleem van hoe om teoretiese aspekte van risikobestuur oor te skakel na besigheidsoplossings in die konteks van die bestuur van bedryfsrisiko's. Dit word gedoen deur die Suid-Afrikaanse Lugdiens as gevallestudie te gebruik. In die lig van die bogenoemde, is die doelwit van dié navorsingstudie tweeledig. Eerstens, om aan te toon hoe om risikobestuur te bevry van die kloue van die akademie en versekering. Tweedens, om die belangrikheid van strategiese risikobestuur op senior bestuursvlak en taktiese risikobestuur op bedryfsvlak uit te lig binne die voorgenoemde moderne tegniek van ondernemingsrisikobestuur.

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27

Cannel, Wayne. "Collaboration to support implementation and embedment of evolving operational risk management practices". Diss., University of Pretoria, 2015. http://hdl.handle.net/2263/52362.

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Despite there being a vast array of literature available on operational risk management, literature on industry collaboration and communication to support the implementation and embedment of operational risk management practices is negligible. The banking industry s activities and risk profiles are becoming more diverse and complex due to deregulation and globalisation and banks therefore need to manage the change by continually evaluating their operational risk management practices to ensure that it remains relevant and aligned to evolving practices. This can be achieved through industry collaboration. Purpose The purpose of this research is to determine whether collaboration and communication within the South African banking industry can support the implementation and embedment of evolving operational risk management practices which include the Sound Practices principles. Method Exploratory research using quantitative techniques, a questionnaire, to collect data from a sample consisting of sixteen banks and analsyed using computer-aided quantitative data analysis software (CAQDAS); IBM SPSS Statistics version 23. The sample size was small and not sufficient to perform any statistical analysis but instead SPSS s descriptive statistics tool was used to determine frequency. Finding The literature reviewed and the quantitative study findings provided adequate evidence and answers to the four research questions confirming that collaboration can support the implementation and embedment of evolving operational risk management practices.
Mini Dissertation (MBA)--University of Pretoria, 2015.
pa2016
Gordon Institute of Business Science (GIBS)
MBA
Unrestricted

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28

Glas, Michael, e Henrik Fredriksson. "Operational Disturbances in Supply Management : Sources and Managerial Approaches". Thesis, Internationella Handelshögskolan, Högskolan i Jönköping, IHH, Centre of Logistics and Supply Chain Management, 2012. http://urn.kb.se/resolve?urn=urn:nbn:se:hj:diva-18146.

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Nowadays global companies view the world as a single entity, sourcing materials fromanywhere and performing operations to create the optimal supply chain for their products.This leads to an increasing complexity which is driving supply management to becomea core capability of businesses. As supply chains are inherently vulnerable to disturbances,supply management will have to play a key role in the field of risk analysisand risk management. An increased awareness of sources of disturbances is essential tocreate significant improvements in the handling and prevention of disturbances.The purpose of this thesis is to identify and classify sources of disturbance which canhave a negative influence on a company’s supply management. This is achieved by theinvestigation of theories available in literature, as well as identifying and analyzing thedisturbances in the supply management of an international manufacturing company.Additionally, the theories on disturbance management are reviewed to create a foundationfor managerial implications.The company studied is Husqvarna, which currently is in a situation with several disturbancesin its supply management. The performed case study aims at both, describingthese phenomena, as well as testing of the theories. The chosen qualitative approachmakes it possible to gain in-depth knowledge and investigate different aspects ofsources of disturbances in this case study. The interviews performed are standardizedopen ended questionnaires in order to get in-depth knowledge of the situation.The empirical findings are then analyzed in regard to the purpose of the thesis. The goalof this analysis is to compare the sources of disturbances of the classification schemecreated in the literature review to the respondents’ answers from the interviews. Moreover,inputs and opinions from the respondents on how to manage disturbances are connectedwith the theories provided in the literature review within this field.Various sources of disturbance with a negative influence on the supply management ofcompanies are identified. It was also possible to compare the classification schemewhich was created based on the theoretical findings with the finding of the case study ofHusqvarna. Consequently a holistic overview of potential and actual sources of disturbancein supply management has been created. Furthermore, it is possible to contribute tothe body of knowledge on how to manage disturbances in supply management. Theprovided insights highlight implications that can help companies to successfully managedisturbances and hence improve their performance.

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Ballot, Christiaan Conrad. "An investigation into the operational budget risk approach of business units in Exxaro resources". Thesis, Stellenbosch : Stellenbosch University, 2008. http://hdl.handle.net/10019.1/80776.

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Thesis (MBA)--Stellenbosch University, 2008.
ENGLISH ABSTRACT: The budgeting process is an integral part of the annual business cycle of most organisations. The budget consists of numerous uncertain inputs, which are frequently used to produce a single EBIT figure. This implies that there is a risk of not achieving the budget that is not quantified and apparent from the prepared budget. In this report, the differences between the budgets of two business units of Exxaro Resources were analysed to gain a better understanding of the information hidden beyond the figures quoted on the surface. The budgets of Exxaro KZN Sands, a heavy minerals producer, and Zincor, a zinc refinery, were analysed to compare the respective risk approach of each. Simplified deterministic models were first constructed that contained the most important budget risk drivers. These were validated with comparisons to the official budgets. Historical actual data from 2006 and 2007 was then obtained from the business archives for the risk drivers. Probability distributions were then generated that fit the distributions of the historical data. These risk distributions were then used as input variables in a Monte Carlo simulation, performed in Crystal Ball. The EBIT for each business was thus simulated as a probability distribution. The simulation showed that the two business units applied very different approaches to budget risk. The actual budgeted EBIT of Exxaro KZN Sands of a loss of R167 579 945 had a more than 99% chance of being exceeded, showing a very conservative, worst case approach to budgeting. Zincor had only a 29% probability of exceeding their budgeted EBIT of R202 783 091, and incorporated a much larger risk of not achieving EBIT into the budget. The budgets of both business units were not suitable for the most important functions of budgeting, namely target setting, strategic planning and valuation of the business. It is recommended that Exxaro implements a procedure to standardise the risk approach to budgeting in the organisation. The budget process must firstly have guidelines to indicate how risk drivers’ values should be chosen for the official budget. Recommendations regarding average values, best three months or any other methodology will ensure that different business units follow a comparable approach. Secondly, Monte Carlo simulation must be performed on simplified business models. The KPI trees currently being used for continuous improvement provide a base model for this purpose. The Monte Carlo simulation will provide a more sophisticated and quantified analysis of risk, and give a further indication of the inherent variability of a specific business unit. Lastly, scrutiny of the Monte Carlo can indicate the biggest drivers of risk. Measures can then be implemented to better understand, or reduce, the variability of the main risk drivers. This will lead to more accurate budgeting, and a better understanding of the inherent budget risk.
AFRIKAANSE OPSOMMING: Die begrotingsproses is ‘n integrale deel van die jaarlikse besigheidsiklus van meeste organisasies. Die begroting bestaan uit etlike onseker insette, maar word meestal gebruik om ‘n enkele syfer vir inkomste te bereken. Dit beteken dat daar ‘n risiko is dat die begroting nie behaal gaan word nie, wat nie duidelik na vore tree in die begroting nie. In hierdie verslag word die verskille tussen die begrotings van twee besigheidseenhede van Exxaro Resources geannaliseer om insig te verkry rakende die inligting versteek agter die ooglopende getalle. Die begrotings van Exxaro KZN Sands, ‘n swaar minerale produsent, en Zincor, ‘n zink rafinadery, is geannaliseer om die onderskye risikobenaderings te vergelyk. Die eerste stap was om vereenvoudigde deterministiese modelle te bou wat die belangrikste begrotingsrisikodrywers bevat het. Die modelle is gevalideer deur die winste te vergelyk met die amptelike besigheidsbegrotings. Historiese data van 2006 en 2007 is versamel van die risikodrywers. Verdelings van waarskynlikheid is toe gekies wat die historiese data beskryf het. Die verdelings is gebruik as inset veranderlikes in ‘n Monte Carlo simulasie, gedoen in Crystal Ball. Die wins van elke besigheid is dan as ‘n waarskynlikheidsverdeling gegenereer. Die simulasie het aangetoon dat die twee besighede uiteenlopende benaderings tot begrotingsrisiko het. Die begrote verlies van R167 579 945 van Exxaro KZN Sands het ‘n hoër as 99% kans gehad om behaal te word. Dit dui op ‘n uiters konserwatiewe benadering, met die mees pessimistiese waardes vir risiko drywers in die begroting. Zincor het sleg ‘n 29% waarskynlikheid gewys om die begrote wins van R202 783 091 te behaal, en het aansienlik meer risiko in die begroting ingebou. Beide die benaderings was nie geskik vir meeste van die funksies waarvoor begrotings gebruik word nie, naamlik doelwitstelling, strategiese beplanning en waardasie van die besigheid. Dit word aanbeveel dat Exxaro ‘n prosedure implementeer om die risikobenadering te standariseer. Die begrotingsproses moet eerstens riglyne hê rakende die benadering tot risikodrywers. Daar moet aanbeveel word of gemiddelde waardes, beste drie maande of ‘n ander benadering gevolg moet word, om seker te maak dat verskillende besigheidseenhede dit vergelykbaar uitvoer. Tweedens moet Monte Carlo simulasie gedoen word op vereenvoudigde besigheids modelle. Die KPI bome wat tans vir deurlopende verbetering gebruik word is ‘n ideale basis vir die proses. Die Monte Carlo simulasie bied ‘n meer kwantifiseerbare benadering tot risiko analise, en dui ook aan wat die verwagte afwyking in ‘n besigheid se inkomste is. Laastens gee die Monte Carlo simulasie ‘n aanduiding oor wat die groot risikodrywers in die besigheid is. Stappe kan dan geimplimenteer word om die risikos te bestuur. Die resultaat sal meer akurate begrotings wees, asook meer insig in die inherente risiko in die begroting.

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Dowdell, Linda P. "Postulation of project management office structures in reducing operational risk of financial institutions". Thesis, University of Phoenix, 2015. http://pqdtopen.proquest.com/#viewpdf?dispub=3691409.

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This exploratory case study used a qualitative research method and explored how Project Management Offices (PMOs) and associated governance groups, such as project management, program management, portfolio management, and risk management, play an important role and are viewed as a positive contributing factor in the successful management of projects. The study also explored the perceived reduction of operational risk that would help prevent the likelihood of financial market collapse reoccurrences, and the perceived importance and impact of operational management structures of financial institutions in contributing to the prevention of another banking collapse. The following themes emerged in the study: Operational risk, regulatory groups, characteristics of PMO structures, optimal PMO structures, PMO effectiveness, and maturity levels of PMOs. A postulation to integrate PMO structures and associated governance groups in the accords (frameworks) of the Basel Committee on Banking Supervision (BCBS) was proposed to help financial institutions reduce operational risks that affect consumers of financial services. A non-traditional survey-based case study was conducted with eight project management professionals with financial industry experience in the United States. The case study helped reveal that financial collapses were significantly related to the lack of PMO structures and integration of those structures into regulatory frameworks as mandates. This case study further found that to reduce the likelihood of another financial collapse, a change needs to be made to organizational structures by (a) implementing well-run PMOs and associated governance groups, and (b) integrating those structures into regulatory frameworks.

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Rouah, Fabrice. "Essays on hedge funds, operational risk, and commodity trading advisors". Thesis, McGill University, 2007. http://digitool.Library.McGill.CA:80/R/?func=dbin-jump-full&object_id=103290.

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Hedge funds report performance information voluntarily. When they stop reporting they are transferred from the "live" pool of funds to the "defunct" pool. Consequently, liquidated funds constitute a subset of the defunct pool. I present models of hedge fund survival, attrition, and survivorship bias based on liquidation alone. This refines estimates of predictor variables in models of survival, leads to attrition rates of hedge funds to be roughly one half those previously thought, and produces larger estimates of survivorship bias. Survival models based on liquidated funds only, lead to an increase in survival time of 50 to 100 percent relative to survival based on all defunct funds.
In addition to refining estimates of survival time, it is useful to examine how the double fee structure of hedge funds and Commodity Trading Advisors (CTA) affects the incentives of their managers. Young CTAs are usually very small --- they hold few financial assets --- and may not meet their operating expenses with their management fee alone, so their incentive is to take on risk and post good returns. As they grow, their incentive to take on risk diminishes. CTAs in their fifth year diminish their volatility by 25 percent relative to their first year, and diminish returns by 70 percent. We find CTAs to behave more like indexers as they grow, concerned with more with capital preservation than asset management.
Operational risk is a major cause of hedge fund and CTA liquidation. In the banking industry, regulators have called upon institutions to develop models for measuring capital charge for operational losses, and to subject these models to stress testing. Losses are found to be inversely related to GDP growth, and positively related to unemployment. Since losses are thus cyclical, one way to stress test models is to calculate capital charge during good and bad economic regimes. We find loss distributions to have thicker tails during bad regimes. One implication is that banks will likely need to increase their capital charge when economic conditions deteriorate.

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Esterhuysen, Ja'nel Tobias. "The financial crisis : reforming the South African risk management environment / Ja'nel Tobias Esterhuysen". Thesis, North-West University, 2010. http://hdl.handle.net/10394/4415.

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The global financial crisis that commenced in June 2007 has been described as the most serious financial crisis since the Great Depression of the 1930s. It resulted in considerable international distress with almost all major banks experiencing capital shortages and some defaulting outright. Among the principal causes was an explosive increase - by a factor of ten in some cases - in credit defaults precipitated by lax lending standards which prevailed for several years. The crisis caused several major institutions to fail (and be subsequently acquired under duress): many of these were subject to takeovers by their relevant sovereigns, including - amongst others - Lehman Brothers, Merrill Lynch, Fannie Mae, Freddie Mac and American International Group and AIG. The financial crisis is believed to be directly responsible for the bleak forecasts (2009 and beyond) faced by the global economy. The measure of global volatility, the VIX, trebled in the third quarter of 2008, interest rate spreads between government fixed income securities and interbank rates widened to unprecedented levels, global inflation threatened an already fragile, volatile marketplace, corporate and retail loan default rates rose and downgrades of large financial institutions (such as US Monoline bond insurers)and manycorporates were experienced by major rating agencies during the first quarter of 2009. The aim of this thesis was to discuss and critically evaluate how the financial crisis has impacted banking risks and also the effect it had on international banks. This has been accomplished through the modification of existing risk measurement techniques and, in some cases, through the development of new techniques, when older risk models proved to be inadequate. A principal secondary aim of the thesis was the testing of these methodologies - in real-world contexts - to ascertain their reliability and robustness concomitant with the adaptation of these methodologies in the light of the new empirical evidence. Important other secondary objectives were the development of novel approaches w0here the research results required it and and the introduction of practical ways to use the results of the thesis in a post-crisis bank risk management environment. Some of the bank asset portfolios that were investigated in the thesis were generated bysimulated data to replicate specific characteristics during the crisis, while the other portfolios comprised entirelyof empirical data. The first objective, of the thesis, was to determine the effect of stressed economic conditions on b.erational risk loss distributions. The depth and duration of the credit crisis have highlighted a number of problems in modern finance. Banks have been accused of excessive risk taking, rating agencies of severe conflicts of interest, central banks of neglecting the inflation of asset price bubbles and national supervisors of laxregulatorycontrols. Credit and market losses have been considerable. Operational losses have also surged as surviving corporates merge or acquire less fortunate ones without the requisite controls. As more jobs get made redundant it is believed that employees revert to internal fraud as their sources of income have dried up drasticallyand stealing from the institution seems to b.tional losses have been affected has been presented and a comparison has been made between operational loss characteristics pre and during the crisis. Some of the main findings were that operational losses have shown little change in frequency, but shown a significant increase in severity, meaning that their financial impact has been more severe during the crisis. It is safe to saythat the financial crisis most definitelyin.creased operational risk in banks much more severe losses. The second objective was to focus on the effect of the stressed economic conditions on the applicability and effectiveness of the credit risk measurement methodologies and the minimum capital requirements, pre.scribed to banks in Basel II. The robustness of the Basel II accord in protecting banks during volatile eco.nomic periods has been challenged in the ongoing financial crisis. Advanced approaches to measuring and managing credit risk in particular have drawn criticism for being too complexand irrelevant. Despite accusa.tions that the accord was largelyresponsible for the crisis, this studyexplored which of Basel II's credit risk approaches were more successful in measuring the bank?s credit risk and calculating the required minimum capital charge for the bank. It was found that, in general, compliance with Basel II actuallyprotected banks during the crisis with the simpler approaches enjoying greater success than more advanced ones, in protect.ing banks against credit risk. The third objective was to appraise the effect of stressed economic conditions on the systemic risk within the South African Banking sector. The financial crisis resulted in increases in credit-, market-and opera.tional risk, but it mayalso have precipitated a surge in systemic risk. Measuring systemic risk as the price of insurance against distressed losses in the South African banking sector, this studyillustrated that the finan.cial crisis has in fact resulted in an increase in systemic risk. Using probabilities of default and asset return correlations as systemic risk indicators, it was established that the financial crisis has indeed increased sys.temic risk in South Africa. The impact was, however, less severe than that experienced in other large interna.tional banks. The fourth and final objective of this studywas to focus on liquiditycreation in South African banks under stressed economic conditions. The financial crisis placed severe pressure on global bank liquidity. Many banks were unable to create sufficient liquidityand had to receive government support or face default. This studyillustrated the impact of the financial crisis on liquiditycreation within South African banks using a model previouslyapplied to US banks. Four measures of liquiditycreation are discussed and applied to data spanning 2004 ? 2009. Although created liquiditydecreased steeplyfrom 2007, liquidity levels in 2009re.main about 45% higher than those of 2004. The four large South African banks created about 80% of the total market liquidity, and a possible reason for this is that these banks have verylarge retail divisions, which have assisted them in creating much more liquiditythan the smaller banks which have much smaller retail divisions. In conclusion, and as illustrated through the findings of this study, the financial crisis did impact the major banking risks on various levels and it is therefore safe to saythat the financial crisis has reformed the interna.tional risk management environment and will also do so in the years to come.
Thesis (Ph.D. (Economics))--North-West University, Potchefstroom Campus, 2011.

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Shamieh, Jamal Mousa Salim. "An investigation into operational risk mitigation in the United Arab Emirates commercial banking industry : case study approach". Thesis, University of South Wales, 2011. https://pure.southwales.ac.uk/en/studentthesis/an-investigation-into-operational-risk-mitigation-in-the-united-arab-emirates-commercial-banking-industry(1578929a-c648-4f15-8939-4b058596ba48).html.

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This study researches a rapidly growing area of interest in the financial services industry, that is,operational hsk management, with special focus on the mitigation phase. Operational risk management has accelerated in importance in the financial services over the last two decades for many reasons, not least of which is the well-known catastrophic failure of large banks such as BCCI, Barings and Indymac, as well as the recent Global Financial Crisis. One of the main drivers behind such bank failures was the failure of the banks' managements to manage effectively and efficiently their operational risk exposure. The focus of this study is operational risk mitigation in the United Arab Emirates Commercial banking industry. A controversial issue with operational risk was deciding on an agreed and accepted definition within the financial services industry. It has been defined by Basel Committee on Banking Supervision as "the risk of loss resulting from inadequate or failed internal processes, people and systems or from external events. This definition includes legal risk, but excludes strategic and reputational risk." This definition captures a wide spectrum of risk categories such as fraud risks, people risks, legal risks and compliance risks, to name a few. Basel Committee on Banking Supervision, a Committee of banking supervisory authorities established by the central bank Governors of the Group often countries in 1974, published in June 2006 a document called the "International Convergence of Capital Measurement and Capital Standards - A Revised Framework Comprehensive Version" known as Basel II Accord, which requires banks, among many other things, to sustain capital adequacy to cover their operational risk exposures. This Accord was the result of a number of consultative documents issued by the same Committee which focused increasing attention on the need for operational risk adequate and efficient management. Bank managements are facing increasing pressure to ensure that operational risk exposures are being managed effectively and efficiently. This extended the main momentum for the study, being the first independently sponsored study of how the UAE commercial banks have developed their operational risk management frameworks as a basis for mitigating the range of operational risk exposures they encounter. The operational risks that prompted the current Financial Crisis and how they were mitigated in the context of the UAE commercial banks gave further momentum to the research. The study addresses the various key players in operational risk management and is, therefore, interdisciplinary. The foundations from which the field work was undertaken were based on theoretical propositions in the area of decision making since the process of mitigating an operational risk is rooted in making a decision. Multiple case studies were used in the design for the research to answer the research question and establish the practices in operational risk mitigation in the UAE commercial banking industry. Leading UAE commercial banks were carefully chosen as representatives of this industry. The findings of the research are in line with the conclusions of Basel Commiltee on Banking Supervision that the main responsibility for operational risk management, and therefore mitigation, is vested in operational managers. The analysis demonstrates that (hey do not do this independently, but are supported by other experienced people in this field. A model and check-lists of operational risk management, and therefore mitigation, is proposed demonstrating the complexity of the whole process due to the nature and the scale of operational risks. The thesis concludes by discussing some further potential research suggestions in this ever-growing area of interest.

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MORAIS, MACELLY OLIVEIRA. "SCENARIO ANALYSIS: INTEGRATING THE OPERATIONAL RISK MANAGEMENT WITH THE CAPITAL MEASUREMENT - THE BNDES EXPERIENCE". PONTIFÍCIA UNIVERSIDADE CATÓLICA DO RIO DE JANEIRO, 2016. http://www.maxwell.vrac.puc-rio.br/Busca_etds.php?strSecao=resultado&nrSeq=28370@1.

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PONTIFÍCIA UNIVERSIDADE CATÓLICA DO RIO DE JANEIRO
COORDENAÇÃO DE APERFEIÇOAMENTO DO PESSOAL DE ENSINO SUPERIOR
PROGRAMA DE SUPORTE À PÓS-GRADUAÇÃO DE INSTS. DE ENSINO
O risco operacional, que é definido como a possibilidade de ocorrência de perdas resultantes de falha, deficiência ou inadequação de processos internos, pessoas e sistemas, ou de eventos externos, está presente em qualquer atividade de uma instituição, seja ela financeira ou não. Essas características tornam a gestão e a mensuração desse risco desafiadoras e completamente diferentes dos demais tipos de risco. Apesar de Basileia II, em 2004, ter proposto diretrizes para os modelos internos de risco operacional, que visam determinar a quantia de capital que deve ser reservada para fazer frente a esse risco, os modelos internos de risco operacional ainda não se desenvolveram como os modelos de risco de crédito e mercado. Esse fato levou o Comitê de Basileia a sinalizar a intenção de eliminar os modelos internos para mensuração do risco operacional recentemente, substituindo todas as abordagens atuais, inclusive os modelos internos por uma abordagem padronizada única, que considera as perdas internas das instituições financeiras. A ausência de bases de dados internas abrangentes e que contemplem todos os riscos operacionais aos quais uma instituição financeira está exposta criou a necessidade de utilizar outros elementos, como os dados de perdas externas e os cenários. No entanto, esses elementos são criticados pela subjetividade. Esta tese teve como objetivo demonstrar a utilização do elemento análise de cenários na metodologia Loss Distribution Approach (LDA) para cálculo do capital regulamentar referente ao risco operacional tendo como referência a experiência do Banco Nacional de Desenvolvimento Econômico e Social (BNDES) na integração da gestão do risco operacional com a mensuração do capital. A metodologia proposta possibilitou, dentre outros: (i) a mensuração do capital regulamentar considerando cenários factíveis; (ii) a identificação de cenários de cauda e de corpo da distribuição agregada de perdas, que não estão refletidos na base de dados internas de perdas; (iii) a identificação e mensuração dos riscos operacionais do BNDES de forma abrangente; (iv) a obtenção de informações que podem direcionar a gestão do risco no que se refere à identificação de riscos que devem ter o tratamento priorizado; (v) o desenvolvimento de uma cultura de riscos, tendo em vista o envolvimento de especialistas de diversas unidades; (vi) a utilização de uma metodologia compreensível a todos os especialistas de negócios, que são os que conhecem os riscos de suas atividades.
Operational risk, which is defined as the possibility of losses resulting from failure, deficiency or inadequacy of internal processes, people and systems or from external events, is present in any activity of an institution, be it financial or not. These features make the management and measurement of this risk challenging and completely different from other types of risk. Although Basel II in 2004 has proposed guidelines for the internal models for operational risk, which aim to determine the amount of capital that must be set aside to cover this risk, operational risk internal models have not yet developed as credit risk and Market models. This has led the Basel Committee to signal the intention to eliminate internal models for measuring operational risk recently, replacing all current approaches, including internal models by a single standardized approach, which considers the internal losses of financial institutions. The absence of comprehensive internal databases that include all operational risks to which a financial institution is exposed has created the need to use other elements such as external data loss and scenarios. However, these elements are criticized for its subjectivity. This thesis aimed to demonstrate the use of the element scenario analysis in Loss Distribution Approach (LDA) methodology for calculating regulatory capital for operational risk with reference to the experience of the Brazilian Development Bank (BNDES) in the integration of operational risk management with the measurement of capital. The proposed methodology allowed, among others: (i) the measurement of regulatory capital considering feasible scenarios; (ii) identification of tail and body scenarios of the aggregate losses distributions, which are not reflected in the internal loss database; (iii) the identification and measurement of BNDES s operational risk in a comprehensive manner; (iv) obtaining information that can target the risk management as regards the identification of risks that should be prioritized treatment; (V) developing a risk culture in view of the involvement of experts from various units; (Vi) use a comprehensive approach to all business experts, who are the ones who know the risks of their activities.

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35

Whitman, Sherry. "Operational risk and financial institution leaders' decision making| A quantitative descriptive correlation study". Thesis, University of Phoenix, 2013. http://pqdtopen.proquest.com/#viewpdf?dispub=3538846.

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The purpose of the quantitative descriptive correlation study was to understand whether leaders of financial institutions considered operational risks when making decisions. A 6-point Likert scale questionnaire surveyed 30 leaders from 30 publicly held Small, Midsize, and Large Size financial institutions headquartered in the United States. The collection of data included demographic constructs, leader position, and size of organization. Dependent variables in the study were strategic, tactical, and operational decision types, and the independent variables were people risk, process risk, technology risk, and external event risk. Using Microsoft XLSTAT, descriptive and inferential statistics were employed to analyze the data. Statistical analysis using Pearson product-moment correlation matrix indicated a positive correlation between operational risk elements when making strategic and operational decisions and a positive correlation between people-process, process-technology, process-external, and technology-external risks when making tactical decisions, resulting in acceptance of the alternate hypotheses and rejecting the null. The findings did not result in significant evidence to support the alternate hypothesis and reject the null hypothesis for relationships between people-technology and people-external when making tactical decisions, resulting in a do not reject the null for these operational risk elements. Findings from the study may assist financial industry leaders in understanding if financial institution leaders consider operational risk when making strategic, tactical, and operational decisions affording the opportunity to improve leader decision-making in the industry.

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Paredes, Leandro Rocío Margaret. "An internal fraud model for operational losses : an application to evaluate data integration techniques in operational risk management in financial institutions". Doctoral thesis, Pontificia Universidad Católica del Perú, 2016. http://tesis.pucp.edu.pe/repositorio/handle/123456789/7998.

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xv, 153 h. : il. ; 30 cm
The handling of external operational loss data by individual banks is one of the longstanding problems in risk management theory and practice. The extant literature has not provided a method to identify the best way to combine internal and external operational loss data to calculate operational risk capital. Hence, to improve the knowledge and understanding of internal-external data combination in operational risk management, this study applied a simulation-based evaluation of well-known data combination techniques such as the scaling, the Bayesian, and the covariate-base techniques. This research considered operational losses arising from internal fraud in retail banking within a group of international banks that share data through an operational loss data exchange. One of the key elements of the simulation-based statistical evaluation was the development of a dynamic internal fraud model for operational losses in retail banking. The internal fraud model incorporated human factors such as the number of employees per branch and the ethical quality of workers. It also included the extent of risk controls set by bank managers. There were two sets of findings. First, according to the simulation-based evaluation, the scaling technique was by far the less useful for estimating the appropriate operational risk capital. The Bayesian and the covariate-based techniques performed best. The Bayesian technique was the best for higher percentiles while the covariate-based technique was the best at not so extreme quantiles. The choice of technique therefore depends on the risk appetite of the financial institution. The second set of findings relates to the model validation with hard data. Losses generated by the model in the banks across the world were associated with GDP growth and the corruption perception of the country where banks were located. In general, internal fraud losses are pro-cyclical and the corruption perception in a country positively affects the occurrence of internal fraud losses. When a country is perceived as more corrupt, retail banking in that country will feature more severe internal fraud losses. To the best of knowledge, it is the first time in the operational risk literature that this type of result is reported
Tesis

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37

Sallis, Geoffrey. "How does bias/scope influence the operational outcome of pressurised incident command decisions and can it be countered?" Thesis, University of Gloucestershire, 2015. http://eprints.glos.ac.uk/3861/.

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Effective fireground decision-making requires good situation awareness (SA) and appropriate selection from the information available to the incident commander. Individuals can display different information bias/scope in their view of the operational incident: either a liberal bias/scope towards accepting information as true with a risk of false alarm errors and/or a conservative bias/scope towards rejecting information with a risk of misses. Such decision - making bias/scope was examined over a series of five separate studies including operational fire fighters and incident commanders. The studies included a breathing apparatus (BA) exercise, two different table top operational incidents (domestic and commercial) and two exercises for flexible duty managers (FDM) in an assessable simulated fireground incident in 2012 and again in 2013. The studies were based on realistic incidents that both fire fighters and FDMs would be expected to respond to, in the final two studies each individual had to take over command and move towards a successful conclusion from an operational, environmental and social perspective. In all the studies, participants were required to answer true or false to a series of probe statements about the incident, which were analysed by a signal detection tool (QASA) to give a measure of actual situational awareness (ASA), perceived situational awareness (PSA) and bias/scope. The first exercise was a BA exercise undertaken to identify if bias was shown by FF’s when undertaking training, the data analysed by the QASA identified that most individuals displayed a high level of ASA about the incident, but also showed either a conservative bias/scope (with miss errors) or a liberal bias /scope (with false alarm errors). The results however also show that two individuals can appear to have similar ASA, but in fact still have very different bias/scope in regard to that knowledge. Once it was established that bias was identified this was developed using table top exercises as it allowed more participants and more control over undertaking the research within normal programmed training periods. The analysis of the two table top exercises showed ASA was high in both, but fire fighters perceived their PSA in a similar way if they had high confidence in one exercise they also had high confidence in the other exercise, or vice versa. However there was no significant correlation between the ASA scores and the PSA scores, with the pattern of bias/scope tendencies being differed across the two studies; with no significant correlation. In reviewing these results the identified difference in undertaking the 2 exercises was that in the second FF’s were familiar with the process and this allow a more relaxed approach, reducing pressure on the individual. While individuals showed bias patterns within the exercises undertaken, more pressurized exercises were identified to see if this bias was consistent for the individual when under pressure. Using the assessable incident commander exercises run by the FRS to test incident commander competence at a FDM level to undertake this. The exercises were used in 2012 and 2013 using the same individuals to compare their results, the outcome of these two simulated assessable fireground incident studies were; • for ASA: there was no significant correlation: r = -.120 and p= .623; • for PSA: there was a significant positive correlation: r =.577 and p = .012; • for bias/scope there was found a strongly positive significant correlation across the scores: r = .592 which is significant at the .008 level. The conclusion of the research is that individuals hold bias/scope tendencies and under pressure these tendencies are shown to be resting and will impact (condition) the individual’s decisions during periods of operational command during stressful conditions. The finding of bias/scope patterns is an important one that may have implications for understanding errors in incident ground decision - making. The finding of resting bias/scope patterns in FDM is an even more important one, which will have implications for understanding errors in incident ground decision - making and how we can help to reduce them. In semi structure interviews with FDMs who had undertaken the assessable exercises, they believed that knowing their bias was a first step to altering it to allow them to improve their decision making at pressurized incidents. Which supported the ultimate goal of the current research to further the understanding of bias/scope tendency, in order to support the training of effective fireground decision - making.

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Swanepoel, Ezelda. "The measurement and management of operational risk in South African co-operative banks / E. Swanepoel". Thesis, North-West University, 2012. http://hdl.handle.net/10394/10430.

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Co-operative banks have proved to be of paramount importance to the South African banking sector. Although relatively new, these banks have proven that their existence, especially in South African, has encouraged millions of individuals to save, and in turn, enabled them to strive for a better standard of living. The proper measuring and managing of operational risk within these banks will ensure the optimal functioning of these banks. Without the appropriate operational risk measurement and management, the daily operations of co-operative banks could result in losses, which would impact the members/shareholders negatively, and in turn, discourage savings. The primary objective of this study is to identify the current manner in which co-operative banks, especially in South Africa, measure and manage operational risk. This study will discuss the current approaches used by co-operative banks and the limitations to these approaches. The secondary objective of this study is to provide recommendations on how to improve these methods in order to measure and manage operational risk using the most effective method.
MCom, Risk Management, North-West University, Vaal Triangle Campus, 2013

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Schöne, Max F. [Verfasser], Stefan [Gutachter] Spinler e Arnd [Gutachter] Huchzermeier. "Operational and financial risk management under commodity price uncertainty / Max F. Schöne ; Gutachter: Stefan Spinler, Arnd Huchzermeier". Vallendar : WHU - Otto Beisheim School of Management, 2016. http://d-nb.info/1179184165/34.

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Schöne, Max F. Verfasser], Stefan [Gutachter] [Spinler e Arnd [Gutachter] Huchzermeier. "Operational and financial risk management under commodity price uncertainty / Max F. Schöne ; Gutachter: Stefan Spinler, Arnd Huchzermeier". Vallendar : WHU - Otto Beisheim School of Management, 2016. http://d-nb.info/1179184165/34.

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41

Parfenova, Alina, e Lena Karlsson. "The effects of regulations on risk management within the Swedish Banking Sector". Thesis, Uppsala universitet, Företagsekonomiska institutionen, 2016. http://urn.kb.se/resolve?urn=urn:nbn:se:uu:diva-298784.

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This research shed the light on regulations and their effects on operational risk management within the Swedish Swedish Banking Sector. The focus lies on operational risk management due to the introduction of new regulations such as FFFS 2014:1, FFFS 2014:4 and FFFS 2014:5. What could be found in the empirical analysis is that the regulations affected organizational changes. Additionally, differences between large and small banks could be seen. All changes in terms of implementation of regulations are strongly performed throughout the Three Lines of Defence model where clear organization structure and work description are of importance. The Three Lines of Defence is tightly combined with the COSO framework and operational risk management to conduct compliant organization that is adaptable for any regulatory changes.

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Eksteen, Lambertus Lochner. "An investigation into source code escrow as a controlling measure for operational risk contained in business critical software". Thesis, Stellenbosch : Stellenbosch University, 2012. http://hdl.handle.net/10019.1/95629.

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Thesis (MBA)--Stellenbosch University, 2012.
This research report outlines corporate governance and information technology risk management frameworks and the use of software escrow within a holistic enterprise risk management strategy to maintain business continuity. Available risk mitigation tools and frameworks were analysed including the use of software escrow as an information technology risk mitigation tool and continuity instrument. The primary researched problem relates to how organisations can ensure business continuity through managing the risks surrounding business-critical software applications. Software escrow was identified in the literature review as a risk management tool used to mitigate operational risks residing in the licencing of mission-critical software applications. The primary research question is: “How can source code escrow contribute towards business continuity by limiting risks contained in licensed business critical software applications?” This study found that an escrow agreement ensures an end-user access to licenced mission-critical intellectual property in the event of the owner’s insolvency, acquisition or breach of maintenance agreements and thereby ensures continuity. The following secondary research questions were also answered: “What types of operational risks will be minimised using software escrow?” and “What constitutes an effective source code agreement in South Africa?” The research identified that the main driver for escrow was operational risk of a mission-critical system failure due to maintenance and upgrades not taking place. The reasons identified included insolvency of the software supplier, acquisition of the supplier, loss of key resources (developers) and breach of maintenance or development agreements. The research also identified some limitations to the application of escrow and the reasons for some agreements not being executed. Key escrow contract quality criteria were identified which ensure an effective agreement under South African law. The following essential quality criteria were found to improve the efficiency of execution of the escrow contract: - Frequency and quality of deposits; - Deposit verification to ensure usability of material post release; and - Well-defined release trigger events to avoid legal disputes regarding what constitutes a release. Case studies highlighted the main risks that drive the creation of escrow agreements and identified limitations to the execution of some escrow agreements. The software end-user operational risks mitigated by the use of escrow included: - Continued use of the software despite vendor bankruptcy; - Reducing the dependency on the supplier for maintenance and support of the software Safeguarding critical business processes; and - Return on investment (software implementation, hardware and training of staff). It was concluded that, despite the legal and practical complexities concerned with escrow, it remains the best instrument to ensure continuity when relying on licensed intellectual property used for business-critical functions and processes. Software escrow is therefore a vital component of a well-formulated license agreement to ensure access to mission-critical technology (including all related intellectual property) under pre-defined conditions of release to the end-user (licensee). In the event of a release, the escrow agent gives the end-user access to the deposited source code and related materials for the purposes of business continuity only and in no way affects the ownership rights of the supplier/owner.

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Byström, Ulrika, e Diana Lundkvist. "Blockkedjan - En riskreducerare? : En undersökning av blockkedjans effekt på risk inom revisions-, finans- och fastighetsbranschen". Thesis, Umeå universitet, Företagsekonomi, 2017. http://urn.kb.se/resolve?urn=urn:nbn:se:umu:diva-137488.

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Den ökade digitaliseringen och framfarten av innovativa lösningar har tagit allt större plats i dagens samhälle. Dagens infrastruktur bygger på ett centraliserat system som är format för en värld innan globaliseringen. Detta innebär att makten är centraliserat till ett fåtal aktörer som politiker, myndigheter och institutioner. Denna konstruktion är ineffektiv och kostsam samtidigt som det centraliserade systemet är sårbart mot cyberattacker och bedrägerier. Genom att anamma digitaliseringen öppnas nya möjligheter upp för att hantera de globala samhällsutmaningarna. Digitaliseringen har lett till framväxten av innovativa tjänster där såväl etablerade företag som nya teknikföretag utforskar sätt att effektivisera, standardisera och säkra upp processer. Blockkedjan är en teknik som har potential att rubba ett flertal industrier genom att göra processer mer effektiva, transparent, demokratiska och säkra. Blockkedjeteknologin har en mängd olika appliceringsområden, men i korthet kan den beskrivas som en teknik som registrerar och lagrar information på ett distribuerat nätverk. Teknologins huvudsakliga syfte är att undanröja tillförlitliga tredje parter genom att säkert distribuera information till nätverkets användare. På så sätt bidrar teknologin till en ökad transparens, minskad asymmetrisk information och därmed ökad säkerhet. Detta öppnar upp frågan: Vilken effekt kommer blockkedjan att ha på företags risk? Syftet med denna studie är att undersöka vilken effekt en implementering av blockkedjan har på ett företags risk inom revisions-, finans- och fastighetsbranschen. I denna studie har tre centrala risker valts ut baserat på teknologins användningsområden: operativ-, kredit- och marknadsrisk. Studiens frågeställning besvaras genom en kvalitativ undersökning där ett brett spektra av respondenter i intervjuer har bidragit med kunskap och erfarenhet. Resultatet från studien påvisar många intressanta aspekter om hur risken kan komma att påverkas från användandet av teknologin. Samtidigt som vi ser stor potential för blockkedjan att reducera ett flertal oönskade risker, finns det en hel del hinder som tekniken ställs inför. Med få befintliga tillämpningar av teknologin är det svårt att förutse exakta konsekvenser, det mesta blir således hypotetiskt. Sammantaget ser vi blockkedjan som en revolutionerande innovation med potential att förändra marknaden. Huruvida teknologins framfart kommer att arta sig är dock beroende av en anpassning i lagstiftningar och regelverk. Utmaningen för beslutsfattarna är således att väga den ökade samhällsnyttan mot de risker som tekniken kan medföra. I detta resonemang ser vi att denna studie kan bidra till en ökad kunskap om blockkedjans riskrelaterade styrkor och hot.

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Oluwafemi, Ayo Kehinde. "Accessing the effectiveness of operational risk management amongst portuguese banks". Master's thesis, 2020. http://hdl.handle.net/10362/96486.

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Dissertation presented as the partial requirement for obtaining a Master's degree in Statistics and Information Management, specialization in Risk Analysis and Management
This research work was carried out to Access the Effectiveness of Operational Risk Management amongst Portuguese banks, using one of the big banks in Portugal as a case study. Operational Risk has been in existence longer than we know but the concept of Operational risk was not well defined until 1995. Operational risk exposes Organizations to diverse risks that can be quite fatal and as such gives rise to the interest in accessing how Portuguese banks manage Operational risk. The major objectives of this study was to determine whether Operational risks are effectively managed by banks in Portugal. With specific objectives such as: To access the awareness of bank employees on principles and techniques related to Operational risk management adopted by banks, to discover if banks are applying the methodologies/ techniques that allow them to mitigate operational risk correctly and to ascertain if Operational risk management improves bank results in Portugal. Questioners and interviews were used as means of data collection in this research work backed up by theoretical and empirical findings. At the end of the research work, recommendations were made.

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Souza, Opal Nassim Mabel de. "Operational risk management framework - BPN Paribas". Master's thesis, 2018. http://hdl.handle.net/10362/36381.

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The scope of this empirical study was developed within the NOVA SBE Work Project Direct Internship Programme, involving the analysis of selected processes entailed by the ORM framework at BNP Paribas. Operational Risk will constantly threaten to subvert financial institutions, hence regulators require banks to have effective Operational Risk Management (ORM) systems, so that potentially significant risks are detected and mitigated at the earliest, to safeguard stakeholders’ interests (McKinsey 2016). This work project researches the relevance of the ORM model of BNP Paribas Global Markets department by examining the processes and their associated risks. By studying the operational risk trends from past incidents to identify, evaluate, and measure operational risks existence, a risk map is determined and an internal control system designed, to mitigate, evade or diminish the impact of the identified risks, thereby closing the gap to avoid similar incidents from occurring in future. Operational risk incidents highlight that standardized and structural drivers within institutions allow these events to occur and hence this empirical study elucidates that the development and implementation of an ORM framework to curtail financial impact and protect the bank’s reputation is crucial and essential.

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Schönfeldt, Nicolette. "Operational risk management in financial institutions". Thesis, 2014. http://hdl.handle.net/10210/11049.

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M.Com. (Business Management)
Financial institutions and regulatory bodies of the financial services industry have, in the last decade of the 20th century, woken up to the realisation that the risk management procedures adopted and promoted by them did not take into account all the risks to which financial institutions were exposed. The one risk category, made up by an array of risks, that has been acknowledged by financial institutions and regulatory bodies for some time, but that has not received much recognition in the risk management procedures is operational risk. This is quite ironic, as operational risk is the only 'pure" risk, i.e. the only risk with only a downside potential. Credit, market and underwriting risk, on the other hand, could result in profits if managed properly. But the losses to which operational risk exposes a financial institution can be minimised through effective risk management. Purpose The greatest obstacle in the process of operational risk management is the fact that there is no universally accepted definition of operational risk. The main purpose of this study is to perform an empirical study of the discipline of operational risk management. This includes research on the subject of operational risk management, assessing the problems experienced in the operational risk management field, considering the different operational risk strategies that exist and evaluating qualitative operational risk methodologies as well as the problems experienced in quantifying operational risk. In conclusion, a definition for operational risk is suggested, based on the research conducted.

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47

Luh, Shan Shan, e 陸珊珊. "The Supervision and Management of Banking Operational Risk". Thesis, 2008. http://ndltd.ncl.edu.tw/handle/00849154631350698976.

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Abstract (sommario):

碩士
國立政治大學
行政管理碩士學程
95
Risk management is a process of indentify, assess, monitor and control/mitigate of risks. The study discuss these four core elements in operational risk management. Analysing the reason of operational risk management failure by introducing the loss events in which domestic and overseas financial institutions. Besides, in order to assist financial institutions in understanding the international trends in reinforcing operational risk management. The study introduce the papers of survey of industry practice in the management operational risk and the supervision guideline for operational risk management in the USA, the UK, Japan, and Hong Kong. Operational risks is everywhere in the business environment. As such, they will vary significantly from organization to organization. The most important types of operational risk involve breakdowns in internal controls and corporate governance. The loss event database is the most helpful tool. In general, qualitative assessment is simpler but no use for capital allocation. The best results have been obtained in applying both qualitative and quantitative techniques. Operational risk management must have the support and involvement of senior managers. They can send the message that operational risks are important, that they deserve attention, and management will allocate resources accordingly. In addition, a separate head office operational risk function has emerged, responsible for developing the operational risk management framework, consolidating information, consulting with the business units, and monitoring the enterprise-wide effectiveness of operational risk management. The risk management strategies execute to uncontrollable or part of controllable risks, except use risk capital to retain some amount of risk, some way for transferring risk involve hedging, insurance, outsouring, use financial derivatives to offset losses. Contingency planning aims to prevent a business disaster from occurring when a very rare event strikes the institution. It should be noted that risk profiles vary among financial institutions, indicating that the most effective method of risk management also may differ among institutions. Financial institution should endeavor to develop operational risk management system after considering its cost-benefit according to their own scale, nature, and risk profile.

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48

Chen, Wei-hua, e 陳韋樺. "Operational Risk Measurement and Management in Financial Institutions". Thesis, 2002. http://ndltd.ncl.edu.tw/handle/69596121701286662913.

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Abstract (sommario):

碩士
中國文化大學
會計研究所
90
By now, the financial industry has developed standard methods to measure and manage market risk and credit risk. The industry is turning next to operational risk, which has proved to be an important cause of financial losses. Indeed most financial disasters can be attributed to a combination of exposure to market risk or credit risk along with some failure of controls, which is a form of operational risk. As in the case of market and credit risk, the financial industry is being pushed in the direction of better controls of operational risk by bank regulators. For the first time, the Basel Committee is proposing to establish capital charges for operational risk, in exchange for lowering them on market and credit risk. The proposed charge would con-stitute approximately 20% of the overall capital requirements. This charge is focusing the attention of the banding industry on operational risk. The problem is that operational risk is much harder to identify than market and credit risk. Even the very definition of operational risk is open to debate. As we shall see. It is important for an institution to adopt a definition for operational risk. Consider the sequence of logical steps in a risk management process: 1. risk identification, 2. risk measurement, 3. risk control, 4. integrated risk and return management. Without proper risk identification, it is very difficult to manage risk effectively. In addition, we discuss the capital adequacy ratio, new regulatory standard and provide a balanced and thorough discussion of the variety of approaches a bank can use to establish a risk management and measurement system for operational risk. Finally, We recommend that the setting of standards and related regulations in Taiwan should keep up in path with the international community to improve financial risk reporting quality and to facilitate globalization of Taiwan''''s business sector.

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49

An, Lan-Jong, e 安蘭仲. "A Study of the Enterprise Risk Management from the Financial Institution’s Operational Risk Management Practices". Thesis, 2011. http://ndltd.ncl.edu.tw/handle/09455980038705127819.

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Abstract (sommario):

碩士
國立臺灣大學
財務金融組
99
A Study of the Enterprise Risk Management from the Financial Institution’s Operational Risk Management Practices The recent rash of business scandals and fraudulent operational events have seriously worn down investors’ confidence and wreaked dreadful havoc to the social and economic system. In order to reform these abuses, the global leading countries and international organizations have legislated laws and risk management regulations to require enterprises to enhance corporate governance and risk management mechanism, which made the enterprise risk management (ERM) practices more important than ever. Though ERM is conducive to the business operation, cases of successful implementation are still very few. Because of the non-calculable benefit, high initial investment, misunderstanding to the general ERM concept, business-oriented mentality and top management’s indifferent attitude, this well designed mechanism has not yet fully shown its true effect. Furthermore, the abstract and tedious contents of related ERM guidelines are not easily translated into practical steps, making ERM less efficient than it has to be. Financial institutions, on the other hand, have been actively engaged into the establishment of risk management processes under Supervisor’s close watch. In addition to the market and credit risk processes, the operational risk management (ORM) skill is also gaining ground gradually. In the this regard, this paper tries to discuss the essence and contents of ERM by introducing financial institutions’ practical ORM processes in an effort to assist enterprises to implement the ERM mechanism with ease. This paper consists of two parts. First, it describes and makes comparisons of the characteristics of four major international risk management guidelines namely, Basel II, COSO ERM, AS/NZS 4360 and Canadian IRMF, so as to elaborate the items and contents that ERM covers. Secondly, it illustrates financial institutions’ ORM structure and mechanism by using Risk Control Self Assessment (RCSA) and Loss data collection as case studies to explain in details the relevant steps, challenges and real benefits as references for the enterprises while planning to implement the ERM. The major findings of this paper are as followed: 1. The definitions and contents of the above mentioned risk management guidelines might differ, however, the practical processes are much the same, which are basically risk identification, risk assessment, risk response and monitor/report. All four Guidelines take risk identification as the first step. The essence and contents of ORM of the financial institutions and ERM are also much the same. 2. The ORM practices undertaken by financial institutions are proved to be beneficial, which are able to systematically improve operational processes, assist top management to get a grip of the risk profile and enhance risk culture. 3. The enterprises can follow financial institutions’ ORM for the ERM processes to analyze various risks in their daily works, project implementation and operational decisions to adopt control measures and incorporate risk management into the on-going operational processes.

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50

Tsai, Chia-Jung, e 蔡嘉蓉. "The Effects of Supply Chain Risk Management Mechanism on Risk Management Capabilities and Operational Performance". Thesis, 2017. http://ndltd.ncl.edu.tw/handle/gva9k9.

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Abstract (sommario):

碩士
國立彰化師範大學
企業管理學系行銷與流通管理碩士班
105
Because of global spreading of supply sources, the uncertainty of nature disaster and terrorism occurrence and political instability, it is a difficult task to manage global supply chain. The impact of the disruption in a supply chain is much stronger than before. Since supply chains are complicated to firms, it is not easy for them to recover after a supply disruption occurs. Many firms implement JIT to reduce costs, it may cause huge loss when a supply chain disruption occurs. The purpose of this research is to investigate relationships among risk management mechanism, risk management capabilities and operational performance. In this study, risk management mechanism includes three practices and they are internal integration, external integration, and risk diversification. Risk management capabilities consist of firms’ warning and recovery capabilities. We collected data from small and medium scale manufacturers in Taiwan. A total of 171 valid questionnaires were collected. Because of the small sample sizes, Partial Least Squares (PLS) was applied for data analysis. The PLS results show that only external integration and risk diversification influence warning capacity positively and only internal integration and risk diversification influence recovery capability. Recovery capability has direct effect on operational performance; however, warning capacity simply has indirect effect. Firms can consider their recourse to take different strategy to implement risk management mechanism to improve their risk management capability and operational performance.

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