Operational Risk Management in Financial Institutions: A Literature Review

Suren Pakhchanyan
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Suren Pakhchanyan: Area Finance and Banking, Department of Business Administration, Economics, and Law, University of Oldenburg, D-26111 Oldenburg, Germany

IJFS, 2016, vol. 4, issue 4, 1-21

Abstract: Following the three-pillar structure of the Basel II/III framework, the article categorises and surveys 279 academic papers on operational risk in financial institutions, covering the period from 1998 to 2014. In doing so, different lines of both theoretical and empirical directions for research are identified. In addition, this study provides an overview of existing consortia databases and other publicly available sources on operational loss that may be incorporated into empirical research, as well as in risk measurement processes by financial institutions. Finally, this paper highlights the research gaps in operational risk and outlines recommendations for further research.

Keywords: Basel framework; operational risk; risk management; risk indicators (search for similar items in EconPapers)
JEL-codes: F2 F3 F41 F42 G1 G2 G3 (search for similar items in EconPapers)
Date: 2016
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (8)

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Persistent link: https://EconPapers.repec.org/RePEc:gam:jijfss:v:4:y:2016:i:4:p:20-:d:80815

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