Operational Risk Management: A Practical Approach to Intelligent Data Analysis / Edition 1

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Overview

The book will introduce modern Operation Risk (OpR) Management and illustrates the various sources of OpR assessment and OpR mitigation. This book discusses how various data sources can be integrated and analyzed and how OpR is synergetic to other risk management activities such as Financial Risk Management and Internationalization. The topics will include state of the art technology such as semantic analysis, ontology engineering, data mining and statistical analysis.
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Product Details

  • ISBN-13: 9780470747483
  • Publisher: Wiley
  • Publication date: 12/28/2010
  • Series: Statistics in Practice Series
  • Edition number: 1
  • Pages: 324
  • Product dimensions: 6.10 (w) x 9.30 (h) x 0.90 (d)

Table of Contents

Foreword

Preface

Introduction

Notes on Contributors

List of Acronyms

PART I INTRODUCTION TO OPERATIONAL RISK MANAGEMENT

1 Risk Management: A General View

R. Kenett, R. Pike and Y. Raanan

1.1 Introduction

1.2 Definitions of risk

1.3 Impact of risk

1.4 Types of risk

1.5 Enterprise risk management

1.6 State of the art in enterprise risk management

1.7 Summary

References

2 Operational Risk Management: An Overview

Y. Raanan, R. Kenett and R. Pike

2.1 Introduction

2.2 Definitions of operational risk management

2.3 Operational risk management techniques

2.4 Operational risk statistical models

2.5 Operational risk measurement techniques

2.6 Summary

References

PART II DATA FOR OPERATIONAL RISK MANAGEMENT AND ITS HANDLING

3 Ontology-Based Modelling and Reasoning in Operational Risks

C. Leibold, H.-U. Krieger and M. Spies

3.1 Introduction

3.2 Generic and axiomatic ontologies

3.3 Domain-independent ontologies

3.4 Standard reference ontologies

3.5 Operational risk management

3.6 Summary

References

4 Semantic Analysis of Textual Input

H. Saggion, T. Declerck and K. Bontcheva

4.1 Introduction

4.2 Information extraction

4.3 The General Architecture for Text Engineering

4.4 Text analysis components

4.5 Ontology support

4.6 Ontology-based information extraction

4.7 Evaluation

4.8 Summary

References

5 A Case Study of ETL for Operational Risks

V. Grossi and A. Romei

5.1 Introduction

5.2 ETL (Extract, Transform and Load)

5.3 Case study specification

5.4 The ETL-based solution

5.5 Summary

References

6 Risk-Based Testing of Web Services

X. Bai and R. Kenett

6.1 Introduction

6.2 Background

6.3 Problem statement

6.4 Risk assessment

6.5 Risk-based adaptive group testing

6.6 Evaluation

6.7 Summary

References

PART III OPERATIONAL RISK ANALYTICS

7 Scoring Models for Operational Risks

P. Giudici

7.1 Background

7.2 Actuarial methods

7.3 Scorecard models

7.4 Integrated scorecard models

7.5 Summary

References

8 Bayesian Merging and Calibration for Operational Risks

S. Figini

8.1 Introduction

8.2 Methodological proposal

8.3 Application

8.4 Summary

References

9 Measures of Association Applied to Operational Risks

R. Kenett and S. Salini

9.1 Introduction

9.2 The arules R script library

9.3 Some examples

9.4 Summary

References

PART IV OPERATIONAL RISK APPLICATIONS AND INTEGRATION WITH OTHER DISCIPLINES

10 Operational Risk Management beyond AMA: New Ways to Quantify Non-recorded Losses

G. Aprile, A. Pippi and S. Visinoni

10.1 Introduction

10.2 Non-recorded losses in a banking context

10.3 Methodology

10.4 Performing the analysis: a case study

10.5 Summary

References

11 Combining Operational Risks in Financial Risk Assessment Scores

M. Munsch, S. Rohe and M. Jungemann-Dorner

11.1 Interrelations between financial risk management and operational risk management

11.2 Financial rating systems and scoring systems

11.3 Data management for rating and scoring

11.4 Use case: business retail ratings for assessment of probabilities of default

11.5 Use case: quantitative financial ratings and prediction of fraud

11.6 Use case: money laundering and identification of the beneficial owner

11.7 Summary

References

12 Intelligent Regulatory Compliance

M. Spies, R. Gubser and M. Schacher

12.1 Introduction to standards and specifications for business governance

12.2 Specifications for implementing a framework for business governance

12.3 Operational risk from a BMM/SBVR perspective

12.4 Intelligent regulatory compliance based on BMM and SBVR

12.5 Generalization: capturing essential concepts of operational risk in UML and BMM

12.6 Summary

References

13 Democratisation of Enterprise Risk Management

P. Lombardi, S. Piscuoglio, R. Kenett, Y. Raanan and M. Lankinen

13.1 Democratisation of advanced risk management services

13.2 Semantic-based technologies and enterprise-wide risk management

13.3 An enterprise-wide risk management vision

13.4 Integrated risk self-assessment: a service to attract customers

13.5 A real-life example in the telecommunications industry

13.6 Summary

References

14 Operational Risks, Quality, Accidents and Incidents

R. Kenett and Y. Raanan

14.1 The convergence of risk and quality management

14.2 Risks and the Taleb quadrants

14.3 The quality ladder

14.4 Risks, accidents and incidents

14.5 Operational risks in the oil and gas industry

14.6 Operational risks: data management, modelling and decision making

14.7 Summary

References

Index

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