Posts Tagged ‘ operational risk ’

G20 update – Day 2

June 22, 2010

Day 2 starts with rain in Toronto. There was a minor protest yesterday afternoon for people protesting that they had nothing important to protest. Or maybe they were protesting poverty. One guy was busted by a cop on a bike for having some pot. I counted at least 100 cops on my walk down to Union Station last night and almost as many on my 3 block walk up to King today. I love seeing that show of force: cops from Toronto, Peel Region and York Region every 15-20 feet, two-by-two. For all the uneasiness that I felt seeing those…

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RiskCenter: Operational Risk – SEC Approves Enhanced Disclosure about Risk, Compensation and Corporate Governance

December 17, 2009

December 17: Operational Risk – SEC Approves Enhanced Disclosure about Risk, Compensation and Corporate Governance Courtesy of RiskCenter.com http://www.riskcenter.com/story.php?id=19377 Location: Washington, DC Author: RiskCenter Staff Date: Thursday, December 17, 2009 The Securities and Exchange Commission today approved rules to enhance the information provided to shareholders so they are better able to evaluate the leadership of public companies. Beginning in the upcoming annual reporting and proxy season, the new rules will improve corporate disclosure regarding risk, compensation and corporate governance matters when voting decisions are made. �Good corporate governance is a system in which those who manage a company � that…

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Tim Leech writes about the actuaries approach to operational risk

December 10, 2009

I am posting the link to Tim Leech’s commentary about the paper titled A New Approach for Managing Operational Risk: Addressing the Issues Underlying the 2008 Global Financial Crisis. If you are not following @LeechGRC on Twitter or read theiia.org, you will likely miss it. And you should read what Tim has to say. He writes:  “I believe the approach to risk management described in this paper and introduced in the Stamford/Towers Perrin workshop has the potential to literally change the way the world thinks about risk management.” Click here to read the full Tim Leech text at theiia.org. To…

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My rant on quantifying operational risk

December 10, 2009

Earlier I published a post about actuaries and operational risk. Today I am in a ranting sort of mood so here are my thoughts on quantifying operational risk. I am not a huge proponent of the quant when operational risk is concerned. I’ve said it before, that risk management is more about people and processes and models and systems. Years ago, a fellow named Philip Martin who was with HSBC at the time (who incidentally got me hooked on the op risk) told me a story about how he was delivering a presentation about risk management to a bank in Africa…

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Actuaries talk about operational risk

December 10, 2009

The actuaries have issued a pretty decent document titled A New Approach for Managing Operational Risk which combines the basic risk management content for newbies with the right about of quant-type stuff. The document also makes some interesting distinctions between traditional and modern operational risk management and is worth a look. http://riskczar.files.wordpress.com/2009/12/a-new-approach-for-managing-operational-risk_actuaries-riskczar.pdf I am not a huge fan of quantifying operational risk so look for my rant about this.

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Slywotzky on Strategic Risks

August 27, 2009

Once again, a must read for anyone who considers themselves a risk professional because they can memorize ISO 31000. (Sarcasm.) Slywotzky describes more dangerous strategic risks like project risk, customer risk and transition risk that should be addressed, while unfortunately traditional risk managers only focus on business risks like hazards, financial risks and operating risks. I recommend anything by Slywotzky for newbie risk managers – not because he talks about risk, on the contrary is writes about strategy – but because without a complete understanding of your organization’s strategic objectives, you are only half-a-risk manager.

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