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Adding value to your organisation through operational risk management
Journal of Securities Operations & Custody,
2
(2),
120-127
(2009)
Abstract
The paper describes the place of operational risk management in the firm and seeks to define a structure that adds value by placing risk management considerations at the heart of the decision-making process. It describes how the operational risk management framework can be used to prepare the firm for unexpected extreme events, therefore enhancing the possibility of survival.
Keywords: context dependent; outcomes; embedded; tolerance; stress; contingency; proactive; operational risk
The full article is available to subscribers to the journal.
Author's Biography
David Breden is Managing Director of HSBC Operational Risk Consultancy and the architect of OpRisk Modeller, a scenario-based commercial risk mapping tool developed by HSBC to meet the needs of the Basel II AMA quantification requirements. Previously he worked for NatWest for over 20 years in both England and Spain and developed and implemented an operational risk management system for the Spanish retail network. He has been involved in operational risk management since 1995 and is both a Fellow and a Director of the Institute of Operational Risk. He is a frequent speaker and writer on operational risk matters.
