Fundamentals of Operational Risk Management - 2nd Edition by Simon Ashby

About the Book

Book Synopsis

Threats and disruptions to the operations of any organization can have major consequences. From IT disruptions, cyberattacks and third-party issues to serious fraud, conduct risks and geopolitical challenges, there are numerous issues that can impact the success of an organization.

Understanding the key principles of an effective operational risk management programme allows organizations to protect themselves from this growing number of threats. Fundamentals of Operational Risk Management outlines how to implement an operational risk management framework which is embedded in day-to-day business activities for established risk professionals. Covering how to understand an organization's existing risk appetite and risk culture to the key tools for managing operational risks such as a categorization, risk and control self-assessment and scenario analysis, this book provides a step-by-step guide to improving operational risk management.

This new edition brings new coverage of emerging operational risks related to AI, ESG, extended enterprise and supply chains. It also includes a new chapter that shows an organization how to manage the impact that geopolitical risks can have on their operations. With global real-world examples of major operational risk events across different industries, this book shows the important role that operational risk management can play in an organization's success.

About the Author

Simon Ashby has been an academic, a financial regulator and a senior operational risk manager in several UK financial institutions. He is currently a visiting professor at Vlerick Business School (Belgium), Bayes Business School (UK) and Exeter Business School (UK). He is a Fellow and former Chair of the Institute of Operational Risk. He is based in Plymouth, UK.

The IRM is a world leading professional body for risk management, driving excellence in managing risk to ensure organizations are ready for opportunities and threats of the future.