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The Operational Risk: An Overall Framework

Giuliana Birindelli and Paola Ferretti

Chapter Chapter 2 in Operational Risk Management in Banks, 2017, pp 9-35 from Palgrave Macmillan

Abstract: Abstract Since the 90s, several factors (e.g., the growing size of the banks, the massive technological investments, the development of e-commerce and e-banking, the outsourcing of production processes) induced to revise operational risk managementOperational risk management (ORM) tools and to reflect on the introduction of specific regulatory requirements. Further attention towards operational risksOperational risk (OR) was brought about by the awareness of the catastrophic nature that operational risk can lead to, in some cases even compromising the survival of the financial intermediary. In this chapter we focus on the specific features of the operational risk, as well as its origin and main sources. Particular attention is also given to the similarities and differences with other risks, namely credit, market, strategic, reputational and compliance riskCompliance risk .

Keywords: Operational riskOperational Risk; Credit riskCredit Risk; Market riskMarket Risk; London Interbank Offered Rate (LIBOR); lossesLosses (search for similar items in EconPapers)
Date: 2017
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DOI: 10.1057/978-1-137-59452-5_2

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