Operational Risk Toward Basel III: Best Practices and Issues in Modeling, Management, and Regulation
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From the Inside Flap
Recent developments in the financial world have once again brought the issue of risk management to the forefront. Without a doubt, international banking reforms are now more important than ever, and understanding current compliance issues as well as the effects of future accords such as Basel III is essential.
While newly developed and optimized financial products are supposed to provide better protection against credit and market risk, the factors involved in the operational risk arena continue to grow in complexity. That's why editor and financial expert Greg N. Gregoriou has created Operational Risk toward Basel III. In it, he brings together experienced practitioners, consultants, and academics to analyze key concepts associated with this discipline.
Divided into four comprehensive sections--Operational Risk Measurement: Qualitative Approaches; Operational Risk Measurement: Quantitative Approaches; Operational Risk Management and Mitigation; and Issues in Operational Risk Regulation and the Fund Industry--this detailed guide not only contains contributed chapters that provide an abundant amount of information regarding operational risk, but it also walks you through a wide array of case studies and examples that will solidify your understanding of the issues discussed.
Topics covered, include:
Operation risk (OpR) management under the new Basel Capital Accord
Dealing with the intangible nature of banking services
OpR vs. capital requirements under new banking capital regulations
Integrating OpR into total Value-at-Risk (VaR)
OpR disclosure in financial services firms
Hedge fund operational risks
OpR in securities clearing and settlement systems
While operational risk has long been regarded as a mere part of "other" risks--outside the realm of credit and market risk--it has quickly made its way to the forefront of finance. With the implementation of the Basel II Accord throughout the developed world and Basel III on the horizon, many financial professionals, as well as those preparing to enter this field, must be familiar with a variety of issues related to operational risk modeling, management, and regulation. Operational Risk toward Basel III contains the information you need to achieve this goal.
GREG N. GREGORIOU, PhD, is Professor of Finance in the School of Business and Economics at the State University of New York at Plattsburgh. He has written over fifty articles on hedge funds and managed futures in various peer-reviewed publications. In addition to a multitude of publications with a variety of publishers, Gregoriou is author of the following Wiley books: Stock Market Liquidity; International Corporate Governance After Sarbanes-Oxley; Commodity Trading Advisors; Hedge Funds: Insights in Performance Measurement, Risk Analysis, and Portfolio Allocation; and Evaluating Hedge Fund and CTA Performance.
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