Operational Risk Management A Practical Approach to Intelligent Data Analysis

by Kenett, Ron S.; Raanan, Yossi

• ISBN13: 9780470747483
• ISBN10: 047074748X
• Edition: 1st
• Format: Hardcover
• Copyright: 2010-10-25
• Publisher: Wiley

Summary

The book will introduce modern Operation Risk (OpR) Management and illustrates the various sources of OpR assessment and OpR mitigation. This book discusses how various data sources can be integrated and analyzed and how OpR is synergetic to other risk management activities such as Financial Risk Management and Internationalization. The topics will include state of the art technology such as semantic analysis, ontology engineering, data mining and statistical analysis.

Author Biography

Ron S Kenett, Chairman and CEO of KPA Ltd. also Research Professor, University of Turin, Italy and International Professor, NYU School of Engineering, New York, USA.

Yossi Raanan, Senior Consultant at KPA Ltd. Also Senior Lecturer, Business School of the College of Management, Academic Studies, Rishon, LeZion, Israel.

Table of Contents

Foreword

Preface

Introduction

Notes on Contributors

List of Acronyms

Introduction to Operational Risk Management

Risk management: a general view

Introduction

Definitions of risk

Impact of risk

Types of risk

Enterprise risk management

State of the art in enterprise risk management

Summary

References

Operational risk management: an overview

Introduction

Definitions of operational risk management

Operational risk management techniques

Operational risk statistical models

Operational risk measurement techniques

Summary

References

Data for Operational Risk Management and its Handling

Ontology-based modelling and reasoning in operational risks

Introduction

Generic and axiomatic ontologies

Domain-independent ontologies

Standard reference ontologies

Operational risk management

Summary

References

Semantic analysis of textual input

Introduction

Information extraction

The general architecture for text engineering

Text analysis components

Ontology support

Ontology-based information extraction

Evaluation

Summary

References

A case study of ETL for operational risks

Introduction

ETL (Extract, Transform and Load)

Case study specification

The ETL-based solution

Summary

References

Risk-based testing of web services

Introduction

Background

Problem statement

Risk assessment

Risk-based adaptive group testing

Evaluation

Summary

References

Operational Risk Analytics

Scoring models for operational risks

Background

Actuarial methods

Scorecard models

Integrated scorecard models

Summary

References

Bayesian merging and calibration for operational risks

Introduction

Methodological proposal

Application

Summary

References

Measures of association applied to operational risks

Introduction

The arules R script library

Some examples

Summary

References

Operational Risk Applications and Integration With Other Disciplines

Operational risk management beyond AMA: new ways to quantify non-recorded losses

Introduction

Non-recorded losses in a banking context

Methodology

Performing the analysis: a case study

Summary

References

Combining operational risks in financial risk assessment scores

Interrelations between financial risk management and operational risk management

Financial rating systems and scoring systems

Data management for rating and scoring

Use case: business retail ratings for assessment of probabilities of default

Use case: quantitative financial ratings and prediction of fraud

Use case: money laundering and identification of the beneficial owner

Summary

References

Intelligent regulatory compliance

Introduction to standards and specifications for business governance

Specifications for implementing a framework for business governance

Operational risk from a BMM/SBVR perspective

Intelligent regulatory compliance based on BMM and SBVR

Generalization: capturing essential concepts of operational risk in UML and BMM

Summary

References

Democratisation of enterprise risk management

Democratisation of advanced risk management services

Semantic-based technologies and enterprise-wide risk management

An enterprise-wide risk management vision

Integrated risk self-assessment: a service to attract customers

A real-life example in the telecommunications industry

Summary

References

Operational risks, quality, accidents and incidents

The convergence of risk and quality management

Risks and the Taleb quadrants

The quality ladder

Risks, accidents and incidents

Operational risks in the oil and gas industry

Operational risks: data management, modelling and decision making

Summary

References

Index

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