Operational Risk : The New Challenge for Banks

Rating:
Summary: No value added to the subject
Review: One of the most significant debates in the financial industry nowadays is the one of quantification of operational risk. This book does not add anything to the discussion. Find qualitative standards for operational risk inside a bank is a challenging but always achievable task as it usually relies on the particular characteristics of the own organization. The problem lies on the quantification. Subjects like operational risk capital allocation, VaR models, correlation etc are not mentioned here. The book is absolutely qualitative with many flaws even there.

Rating:
Summary: Breaking New Ground
Review: This is a thoughtful and comprehensive piece of work by an industry insider whose practical experience of the topic is clear. I found this helpful both for myself as head of operational risk in a financial institution, as have some of the other staff in my department.