Why is operational risk management important?

Philip Martin

Journal of Securities Operations & Custody, 2010, vol. 2, issue 4, 324-332

Abstract: Much of the current economic crisis can be attributed to a failure of risk management processes across the global financial services industry. This paper looks at the importance of risk management, its role in business, its influence on corporate governance, what causes failures and the impact of events. It examines core issues and potential remedies to prevent similar failures recurring.

Keywords: operational risk management; Basel II; corporate governance; corporate culture; non-executive directors; risk management (search for similar items in EconPapers)
JEL-codes: E5 G2 K22 (search for similar items in EconPapers)
Date: 2010
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Persistent link: https://EconPapers.repec.org/RePEc:aza:jsoc00:y:2010:v:2:i:4:p:324-332

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