Operational Risk Toward Basel III: Best Practices and Issues in Modeling, Management, and Regulation: 481 (Wiley Finance) - Hardcover

Gregoriou, Greg N.

Hardcover

ISBN 10: 047039014X ISBN 13: 9780470390146

Publisher: Wiley, 2009

Synopsis

This book consists of chapters by contributors (well-known professors, practitioners, and consultants from large and well respected money management firms within this area) offering the latest research in the OpRisk area. The chapters highlight how operational risk helps firms survive and prosper by givingreaders the latest, cutting-edge techniques in OpRisk management. Topics discussed include: Basel Accord II, getting ready for the New Basel III, Extreme Value Theory, the new capital requirements and regulations in the banking sector in relation to financial reporting (including developing concepts such as OpRisk Insurance which wasn't a part of the Basel II framework). The book further discussed quantitative and qualitative aspects of OpRisk, as well as fraud and applications to the fund industry.

About this title

About the Author

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.

From the Back Cover

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.

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.

Edition details

• Publisher: Wiley
• Publication date: 2009
• ISBN 10: 047039014X
• ISBN 13: 9780470390146
• Binding: Hardcover
• Language: English
• Edition number: 1
• Number of pages: 528