Organized Opportunities: Risk Management in Financial Services Operations - Hardcover

Kross, Wilhelm

Hardcover

ISBN 10: 3527502408 ISBN 13: 9783527502400

Publisher: Wiley VCH, 2007

Synopsis

Organized Opportunities addresses core aspects of integrating risk–based decision–making and optimization techniques in the design and management of industrialized financial services operations. Employing modified project risk and industrial risk management methods, the author derives valuable practical guidance for mega–project unbundling; business process and work flow optimization; risk–based organizational redesigns to enable complex financial products in risk factories and credit factories; and the identification of sensible performance benchmarks for the risk–adjusted management of teams and resources. Organized Opportunities provides food for thought and real life examples of how these additions to the method toolkit for financial services can be employed to turn enterprise–wide risk management into an opportunity enabler.

About this title

About the Author

Dr. Wilhelm K. Kross, Dipl.–Ing., MBA, is a recognized expert in the field of project– and risk management. As a Director of Value & Risk AG, Dr. Kross has worked for banks, IT services providers and energy traders since early 2000. In the 1990s he applied his expertise to industrial projects in North and South America and Africa. Dr. Kross is a certified European Engineer, a lecturer at the European Business School, VP Finance of the Project Management Institute Frankfurt Chapter, and leads the PMIFC ′Troubled Projects′ committee as the local contact for the PMI TPSIG and RiskSIG.

From the Back Cover

This book addresses the core aspects of integrating risk–based decision–making and optimization techniques in the design and management of industrialized financial services operations. A comprehensive trend analysis of risk analysis and management techniques across disciplines and industries, together with a review of current change experienced in financial services sector organizations is addressed herein. The author employs enhanced project risk and industrial risk management methods to derive practical guidance for relevant topics such as IT mega–project unbundling; business process and work flow optimization; risk–based organizational redesigns to enable structured and complex financial products in risk factories and credit factories; and the identification of sensible performance benchmarks for the risk–adjusted management of teams and resources in financial services operations.

The author demonstrates that many recent initiatives launched to introduce Basel II′s "operational risk" into financial services provider organizations have been over–constrained and lack the management perspective. Delivering unparalleled insight into the typical causes and consequences of performance inhibitors and risk drivers in financial services operations, and the implications of corrective action scenarios, Organized Opportunities provides food for thought and real–life examples of how various additions to the commonly practiced methodological toolkit can be employed to turn enterprise–wide risk management into an opportunity enabler. The valuable insights to be gained through reading this book make it an essential component in the library of any chief operating officer or corporate risk manager.

From the Inside Flap

Organized Opportunities addresses the strategic management of financial services operations. Part I compares minimum standards for risk controlling, introduced in regulatory frameworks, with trends in risk management as they have evolved across industries and disciplines, and adds a perspective on how a large methodological toolkit can be employed to better address current management issues, render transparent performance inhibitors, and enhance the interplay of hard and soft factors in organizational change. Part II adds perspectives on how risk–based considerations can be interfaced into typical structures and processes in financial services. Challenges in the unbundling of IT mega–projects are identified, and reframed by employing a new paradigm for the structuring and optimization of major change initiatives. A case example is introduced in which financial services provider workflows and structures are reviewed and redesigned on the basis of a set of probabilistic process models. Part III complements these approaches with probabilistic models targeted at the design of industrialized financial services operations. Likely challenges and near–optimum solutions are presented, should a credit factory introduce complex financial products into the services offering. Another case example reflects how a corporate financial risk management function could be set up as a production isle, and offers insight into the relevance of key indicators in service level structuring and pricing. Part IV adds recommendations for real–life implementation and supports the notion that enhanced risk management yields organized opportunities.

Edition details

• Publisher: Wiley VCH
• Publication date: 2007
• Language: English
• ISBN 10: 3527502408
• ISBN 13: 9783527502400
• Binding: Hardcover
• Number of pages: 256