A Short Guide to Operational Risk (Paperback) book cover

A Short Guide to Operational Risk

By David Tattam

© 2011 – Routledge

256 pages

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Paperback: 9780566091834
pub: 2011-05-28
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About the Book

There is a growing awareness across both public and private sectors, that the key to embedding an effective risk culture lies in raising the general education and understanding of risk at every level in the organization. This is exactly the purpose of David Tattam's book. A Short Guide to Operational Risk provides you with a basic yet comprehensive overview of the nature of operational risk in organizations. It introduces operational risk as a component of enterprise wide risk management and takes the reader through the processes of identifying, assessing, quantifying and managing operational risk; explaining the practical aspects of how these steps can be applied to an organization using a range of management tools. The book is fully illustrated with graphs, tables and short examples, all designed to make a subject that is often poorly understood, comprehensible and engaging. A Short Guide to Operational Risk is a book to be read and shared at all levels of the organization; it offers a common understanding and language of risk that will provide individual readers with the basis to develop risk management skills, appropriate to their role in the business.

Table of Contents

Contents: Foreword, Jan Schreuder and Alfredo Martinez; Part 1 Understanding Operational Risk: What is operational risk?; Frameworks for managing operational risk; Operational risk management in the corporate structure. Part 2 A Methodology to Manage Operational Risk: Components of an operational risk management framework; Risk and control self assessment (RCSA); Key risk indicators; Risk incident recording and management; Compliance (external and internal); Risk treatment, improvement implementation and tracking; Reporting; Approaches to measuring operational risk. Part 3 Making Operational Risk Management Work: The key to achievihoptonng operational risk management success; Index.

About the Author

David Tattam is a partner and founder of Protecht Advisory, a specialist risk consulting firm based in Sydney, Australia. He is recognized internationally as a specialist in all facets of risk management and in particular, operational risk management. David has been instrumental in developing Protecht's comprehensive operational risk management methodology and Operational Risk Management and Compliance software (WORMSâ„¢). He currently consults to, and trains a range of industries in relation to setting up risk management functions and systems implementation using Protecht's solution. He also developed and delivered operational risk management training globally including developing the in-house ORM training capabilities of a number of major banks. Prior to setting up Protecht, David held roles as the Head of Operations and Risk Management at WestLB Bank and Industrial Bank of Japan in Australia and Senior Manager at PricewaterhouseCoopers. David is an Associate of the Institute of Chartered Accountants in England and Wales, an Associate of the Institute of Chartered Accountants in Australia, and a Fellow of the Financial Services Institute of Australia.

About the Series

Short Guides to Business Risk

Risk is a far more complex and demanding issue than it was ten years ago. Risk managers may have expertise in the general aspects of risk management and in the specifics that relate directly to their business, but they are much less likely to understand other more specialist risks. Equally, Company Directors may find themselves falling down in their duty to manage risk because they don't have enough knowledge to be able to talk to their risk team, in a sensible way. The short guides to risk are not going to make either of these groups experts in the subject but will give them plenty to get started and in a format and an extent (circa 150 pages) that is readily digested.

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Subject Categories

BISAC Subject Codes/Headings:
BUS104000
BUSINESS & ECONOMICS / Corporate Governance