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Operational Risk Management in Financial Services: A Practical Guide to Establishing Effective Solutions
by Elena PykhovaTechnology failures, data loss, issues with providers of outsourced services, misconduct and mis-selling are just some of the top risks that keep financial firms up at night. In this context effective operational risk management is, simply, a commercial necessity.The management of operational risk, defined by the Basel Accord as arising from failures of processes, people, systems or external events, has developed considerably since its early years. Continued regulatory focus and catastrophic industry events have led to operational risk becoming a crucial topic on senior management's agenda. This book is a practical guide for practitioners which focuses on how to establish effective solutions and avoid common pitfalls.Filled with frameworks, examples and diagrams, this book offers clear advice on key practices including conducting risk assessments, assessing change initiatives, designing key risk indicators, establishing scenario analysis, drafting appetite statements and carrying out risk reporting. Operational Risk Management in Financial Services also features results from polls taken by risk practitioners which provide a snapshot of current practices and allow the reader to benchmark themselves against other firms. This is the essential guide for professionals looking to derive value out of operational risk management, rather than applying a compliance 'tick box' approach.
Operational Risk Management in Financial Services: A Practical Guide to Establishing Effective Solutions
by Elena PykhovaTechnology failures, data loss, issues with providers of outsourced services, misconduct and mis-selling are just some of the top risks that the financial industry faces. Operational risk management is, simply, a commercial necessity. The management of operational risk has developed considerably since its early years. Continued regulatory focus and catastrophic industry events have led to operational risk becoming a crucial topic on any senior management team's agenda. This book is a practical guide for practitioners which focuses on how to establish effective solutions, avoid common pitfalls and apply best practice to their organizations. Filled with frameworks, examples and diagrams, this book offers clear advice on key practices including conducting risk assessments, assessing change initiatives and designing key risk indicators. This new edition of Operational Risk Management in Financial Services also features two new chapters reflecting on the future of operational risk management, from cyber risk to GenAI, and guides practitioners in incorporating ESG into their day-to-day strategies. This is the essential guide for professionals looking to derive value out of operational risk management, rather than applying a compliance 'tick box' approach.
Operational Risk Management in Financial Services (Wiley Global Finance Executive Select #3)
by Anthony TarantinoBanking is at the forefront of the effort to quantify and measure operational risk and as such can be role model beyond the financial services industry. The Basel Committee of the Bank for International Settlements (BIS) has created a new capital accord, known as Basel II. Basel II requires banks to establish an operational risk management (ORM) framework and compute an explicit capital charge for operational risk once it is adopted. This chapter from Goverance, Risk, and Compliance Handbook, by Anthony Tarantino, outlines different approaches, tools, and guidance on operational risk management for financial services companies.
Operational Risk Modeling in Financial Services: The Exposure, Occurrence, Impact Method (Wiley Finance)
by Patrick Naim Laurent CondaminTransform your approach to oprisk modelling with a proven, non-statistical methodology Operational Risk Modeling in Financial Services provides risk professionals with a forward-looking approach to risk modelling, based on structured management judgement over obsolete statistical methods. Proven over a decade’s use in significant banks and financial services firms in Europe and the US, the Exposure, Occurrence, Impact (XOI) method of operational risk modelling played an instrumental role in reshaping their oprisk modelling approaches; in this book, the expert team that developed this methodology offers practical, in-depth guidance on XOI use and applications for a variety of major risks. The Basel Committee has dismissed statistical approaches to risk modelling, leaving regulators and practitioners searching for the next generation of oprisk quantification. The XOI method is ideally suited to fulfil this need, as a calculated, coordinated, consistent approach designed to bridge the gap between risk quantification and risk management. This book details the XOI framework and provides essential guidance for practitioners looking to change the oprisk modelling paradigm. Survey the range of current practices in operational risk analysis and modelling Track recent regulatory trends including capital modelling, stress testing and more Understand the XOI oprisk modelling method, and transition away from statistical approaches Apply XOI to major operational risks, such as disasters, fraud, conduct, legal and cyber risk The financial services industry is in dire need of a new standard — a proven, transformational approach to operational risk that eliminates or mitigates the common issues with traditional approaches. Operational Risk Modeling in Financial Services provides practical, real-world guidance toward a more reliable methodology, shifting the conversation toward the future with a new kind of oprisk modelling.
Operational Risk Modelling and Management (Chapman & Hall/CRC Finance Series)
by Claudio FranzettiTaking into account the standards of the Basel Accord, Operational Risk Modelling and Management presents a simulation model for generating the loss distribution of operational risk. It also examines a multitude of management issues that must be considered when adjusting the quantitative results of a comprehensive model.The book emphasizes techniqu
Operational Risk Toward Basel III
by Greg N. GregoriouThis book consists of chapters by contributors (well-known professors, practitioners, and consultants from large and well respected money management firms within this area) offering the latest research in the OpRisk area. The chapters highlight how operational risk helps firms survive and prosper by givingreaders the latest, cutting-edge techniques in OpRisk management. Topics discussed include: Basel Accord II, getting ready for the New Basel III, Extreme Value Theory, the new capital requirements and regulations in the banking sector in relation to financial reporting (including developing concepts such as OpRisk Insurance which wasn't a part of the Basel II framework). The book further discussed quantitative and qualitative aspects of OpRisk, as well as fraud and applications to the fund industry.
Operational Safety for Aviation Managers: Practice Beyond the Theory (Managing Aviation Operations)
by John FrearsonDespite the vast amount of work building the foundations of safe operations, aviation accidents still happen, and prior to many accidents and other safety-related events, there was unexpressed or ignored disquiet as the ‘last minute’ approached – the last minute being that time when there is no longer time for discussion or analysis, only ‘safety first’ action. This book aims at the assurance of better outcomes from these time-critical situations whose genesis lies in the time period immediately preceding the ‘last minute.’ This assurance of better outcomes can best be assured by enabling operational managers to adopt new paradigms, in the development of SOPs, building the right culture, and implementation of training programs relevant to good decision-making required as the ‘last minute’ approaches.This book examines the development of the foundations for aviation safety – the things that give foundational support for safety to pilots in particular, but over which line pilots may have little knowledge or day-to-day control. It provides a history of time-critical safety-related events, providing the foundation for the understanding of the reasons why pilot inactivity, indifference, fixation, and incapacitation can so pervade the lead up to the ‘last minute’ as to leave the safe continuation of the flight resting on prompt remedial action. The role of doubt, how it is expressed and how it is heard, is another central thread. Finally, the book addresses the role of flight data analysis as a valuable management tool.Written for aviation managers, line flight crews, and those in similar operational roles in aviation-related operations, this book and its informal discussion style should appeal and communicate across national, age, experience, and language boundaries to create a safer operational environment.
Operational Sustainability in the Mining Industry: The Case of Large-Scale Open-Pit Mining (LSOPM) Operations (Asset Analytics)
by Hassan Qudrat-Ullah Pramela Nair PanthallorThis book broadly explains the requirement to focus on core components in a business and provides a case study of open-pit mining operations throughout the book to understand the management perspective of large organizations. With globalized approaches of large businesses and the rising requirement of understanding the needs of modern organizations, it is necessary to focus on key areas of businesses to ensure sustainability of operations. Organizations look into achieving a high return on investments and short-term measures in increasing sales or revenue is considered unsuitable. It is a necessity to look for sustainability and continuous methods of innovation to boost efficiency. This book provides a case study based on large organizations and uses qualitative methodologies where data was collected using in-depth interviews of respondents from various mining companies in the top and middle-level management from different parts of the world, detailing the state of the art of information systems currently used in large scale open-pit miming (LSOPM). This book provides a sound knowledge of cutting-edge factors to the reader for managing the business to attain operational excellence and long-term sustainability, and caters to a broad spectrum of management and technical readers.
Operationalizing Sustainability
by Pierre Massotte Patrick CorsiThis book focuses on the emergence of the "science of sustainability" and the key concepts in making sustainability operational in an organization. The authors discuss the methods, techniques and tools needed to manage the impact of sustainability and how these can be reformulated into business models and solutions for new growth and applications. They then move onto the reformulation of future thinking processes before ending by looking towards an approach for the measurement of sustainability and competitiveness.
The Operations Advantage: A Practical Guide to Making Operations Work
by Professor Nigel SlackThe study and practice of operations has shifted to reflect the new challenges and uncertainties of how to thrive in today's ever-changing world. The Operations Advantage identifies the most significant challenges to the practice of operations management and gives guidance on how businesses can respond. Leaders need to link the strategic objectives of the business clearly and logically to its operation's performance objectives. The book presents a series of ten activities that will help them to do this and therefore make operations work better, such as designing and configuring internal processes and resourcing the operations appropriately.Based on the global teaching, training and consultancy conducted by the author, The Operations Advantage looks at the application of operations management across a range of sectors, including finance, healthcare, professional services, oil and gas industries. Although these diverse sectors require operations practitioners to apply knowledge in different ways, they essentially deal with the same set of processes. The book is an indispensable and unique guide for anyone with an operational role in any organization, as well as operations management students and academics.
Operations and Maintenance Manual for Energy Management
by James E. PiperA complete reference that features a wealth of proven maintenance methods that can reduce energy use in any type of building. Provided are numerous forms and maintenance procedures for reducing energy use, improving system performance, and cutting total maintenance costs.
Operations And Supply Chain Management
by F. Robert Jacobs Richard ChaseOperations and supply chain management (OSCM) is a key element in the improvement in productivity in business around the world. Establishing a competitive advantage through operations requires an understanding of how the operations and supply chain functions con¬tribute to productivity growth. However, our intent in this book is to do more than just show you what companies are doing to create a competitive advantage in the marketplace by conveying to you a set of skills and tools that you can actually apply.
Operations and Supply Chain Management
by Roberta S. Russell Bernard W. TaylorRussell and Taylor's Operations and Supply Chain Management, 8th Edition is designed to teach students how to analyze processes, ensure quality, create value, and manage the flow of information and products, while creating value along the supply chain in a global environment. Russell and Taylor explain and clearly demonstrate the skills needed to be a successful operations manager. Most importantly, Operations Management 8e makes the quantitative topics easy for students to understand and the mathematical applications less intimidating.
Operations and Supply Chain Management
by Roberta S. Russell Bernard W. Taylor III1 Introduction to operations and supply Chain Management 2 Operations Process 3 Production Planning and control 4 Inventory Planning And Control 5 Supply Chain Management Case Studies Numericals Multiple Choice Questions
Operations and Supply Chain Management
by William J Stevenson Thomas J. KullThe 2024 release of this beloved and market-leading Operations Management title has been completely updated to provide a clear presentation of the field of Operations and Supply Chain Management. Operations & Supply Chain Management welcomes co-author, Thomas Kull of Arizona State University, as he brings his wealth of industry knowledge and experience, particularly in the area of supply chains. With current real-world examples and thoughtful student pedagogy, this comprehensive title offers a flexible modular approach that can be used for different course levels, ranging from undergrad to executive education. New additions to this title include updated content, new chapter “OM is Personal” openers focusing on a more holistic approach, an emphasis on supply chains and sustainability, author created Guided Examples, and 70+ new Integrated Excel problems.
Operations And Supply Chain Management: The Core
by F. Robert Jacobs Richard B. ChaseThe fourth edition of Operations and Supply Chain Management: The Core focuses on the important core concepts in the dynamic field of operations. Just as lava flows from the core of the earth, operations and supply chain management is the core of business. Material must flow through supply chain processes to create cash output and input. This new edition has an increased focus on supply chain analytics involving the analysis of data to better solve business problems. Connect is the only integrated learning system that empowers students by continuously adapting to deliver precisely what they need, when they need it, and how they need it, so that your class time is more engaging and effective
Operations and Supply Chain Management: The Core
by F. Robert Jacobs Richard B. ChaseThe Sixth Edition of Operations and Supply Chain Management: The Core focuses on the important core concepts in the dynamic field of operations. Just as lava flows from the core of the earth, operations and supply chain management is the core of business. Material must flow through supply chain processes to create cash output and input. This new edition has an increased focus on supply chain analytics involving the analysis of data to better solve business problems. Jacobs The Core 6e focuses on the core concepts and tools needed to ensure business processes run smoothly and is designed to be lean and focused on the material sufficient for a 12-15 week course in Operations Management. It includes new exercises in Analytics , Supply Chain Improvement Models, new carbon footprint exercises, forecasting analytics and Inventory management exercises. New vignettes like in Ch. 2 featuring a special purpose acquisition (SPAC) of a large indoor farm, and Operations Management insights from the COVID-19 pandemic throughout provide valuable, engaging and relevant content for students learning Operations Management.
Operations and Supply Chain Management for MBAs
by Jack R. Meredith Scott M. ShaferThe seventh edition of Operations and Supply Chain Management for MBAs is the definitive introduction to the fundamental concepts of supply chain and operations management. Designed specifically to meet the needs of MBA students, this market-leading book offers clear presentation of topics such process planning and design, capacity and location planning, schedule and inventory management, and enterprise resource planning. A strategic, conceptual approach helps readers comprehend the contemporary issues they will soon be facing in industry. <P><P> This concisely-formatted volume enables instructors to customize their courses for the unique requirements of MBA programs. Each chapter integrates material directly into the text―rather than sidebars, highlights, and other pedagogical devices―to achieve a smooth, easy-to-read narrative flow. Carefully selected questions prompt discussions that complement the mature, more experienced nature of MBA students, while case studies and supplementary materials illustrate key concepts and practices. Topics such as outsourcing and global sourcing, the role of information technology, and global competitiveness strategies assist students to understand working and competing in the globalized economy.
Operations and Supply Chain Management in the Food Industry: Farm to Fork (Lecture Notes in Management and Industrial Engineering)
by Kuldip Singh Sangwan Rahul S Mor Sachin S. KambleThis book offers effective and competitive food supply chains that are the consequence of technological innovation, collaboration, small agri-food business cases, entrepreneurial opportunities, cold chain technology management, disruptive technologies, and performance assessment through empirical analysis, case studies, and multimethod research in the food industry. The book comprehensively covers different interfaces of the food supply chain including procurement, processing, distribution, consumer, i.e., farm to fork. It provides solutions to various challenges such as globalization, food recalls, technological innovations, and consumer trust. This book will be of interest to researchers in the areas of the food supply chain, operations management, industrial engineering as well as professionals in the agri-food and allied industry.
Operations and Supply Management 4.0: Industry Insights, Case Studies and Best Practices (Future of Business and Finance)
by Marc Helmold Brian TerryFierce competition, globalisation and the permanent liberalisation of markets have changed the face of supply chains and operations drastically. Companies, which want to survive in a hostile environment, must establish the optimum combination of supply and operations. This book provides a holistic and practical approach to operations management 4.0 and supply management 4.0. It combines operations and supply best practices across the value chain. It explains comprehensively, how these new paradigms enable companies to concentrate on value-adding activities and processes to achieve a long-term sustainable and competitive advantage.The book contains a variety of best practices, industry examples and case studies. Focusing on best-in-class examples, the book offers the ideal guide for any enterprise in operations and supply in order to achieve a competitive advantage across all business functions focusing on value-adding activities.
Operations Excellence Management System (OEMS): Getting It Right the First Time
by Chitram Lutchman Kevan Lutchman Ramakrishna Akula Charles Lyons Waddah S. Ghanem Al HashmiWritten for users, this book provides a structured approach with processes for implementing OEMS based on the learnings and experiences from companies who have implemented OEMS. The book leverages the knowledge of experienced OEMS personnel to provide a compelling sense of direction for organizations in the implementation of OEMS. The book includes sample templates and tools where necessary to ensure successful implementation and sustainment. The content of this book provides a testing methodology for implementing an OEMS across any organization while avoiding the pitfalls others have encountered along the way. The book: Provides a simple and easy process to follow for implementing an OEMS Offers organizations an opportunity to avoid the implementation errors of early adopters and provides them with the ability of learning from the experiences of others Equipped with tools and processes to make implementation and sustainment very effective, thereby avoiding false starts Designed to improve HSE, business reliability, efficiency, effectiveness, and performance on an ongoing basis Presents a simple pathway for helping organizations across all industries including those that operate within the various segments of the Oil and Gas business, to become more operationally disciplined in the way we do business and operate our assets in a high-risk operating environment
Operations in an Omnichannel World (Springer Series in Supply Chain Management #8)
by Santiago Gallino Antonio MorenoThe world of retailing has changed dramatically in the past decade. Sales originating at online channels have been steadily increasing, and even for sales transacted at brick-and-mortar channels, a much larger fraction of sales is affected by online channels in different touch points during the customer journey. Shopper behavior and expectations have been evolving along with the growth of digital channels, challenging retailers to redesign their fulfillment and execution processes, to better serve their customers. This edited book examines the challenges and opportunities arising from the shift towards omni- channel retail. We examine these issues through the lenses of operations management, emphasizing the supply chain transformations associated with fulfilling an omni-channel demand. The book is divided into three parts. In the first part, “Omni-channel business models”, we present four studies that explore how retailers are adjusting their fundamental business models to the new omni-channel landscape. The second part, “Data-driven decisions in an omni-channel world”, includes five chapters that study the evolving data opportunities enabled by omni-channel retail and present specific examples of data-driven analyses. Finally, in the third part, “Case studies in Omni-channel retailing”, we include four studies that provide a deep dive into how specific industries, companies and markets are navigating the omni-channel world. Ultimately, this book introduces the reader to the fundamentals of operations in an omni-channel context and highlights the different innovative research ideas on the topic using a variety of methodologies.
Operations, Logistics and Supply Chain Management (Lecture Notes in Logistics)
by Henk Zijm Matthias Klumpp Alberto Regattieri Sunderesh HeraguThis book provides an overview of important trends and developments in logistics and supply chain research, making them available to practitioners, while also serving as a point of reference for academicians. Operations and logistics are cornerstones of modern supply chains that in turn are essential for global business and economics. The composition, character and importance of supply chains and networks are rapidly changing, due to technological innovations such as Information and Communication Technologies, Sensors and Robotics, Internet of Things, and Additive Manufacturing, to name a few (often referred to as Industry 4.0). Societal developments such as environmental consciousness, urbanization or the optimal use of scarce resources are also impacting how supply chain networks are configured and operated. As a result, future supply chains will not just be assessed in terms of cost-effectiveness and speed, but also the need to satisfy agility, resilience and sustainability requirements. To face these challenges, an understanding of the basic as well as more advanced concepts and recent innovations is essential in building competitive and sustainable supply chains and, as part of that, logistics and operations. These span multiple disciplines and geographies, making them interdisciplinary and international. Therefore, this book contains contributions and views from a variety of experts from multiple countries, and combines management, engineering as well as basic information technology and social concepts. In particular, it aims to: provide a comprehensive guide for all relevant and major logistics, operations, and supply chain management topics in teaching and business practiceaddress three levels of expertise, i.e., concepts and principles at a basic (undergraduate, BS) level, more advanced topics at a graduate level (MS), and finally recent (state-of-the-art) developments at a research level. In particular the latter serve to present a window on current and future (potential) logistics innovations in the different thematic fields for both researchers and top business practitionersintegrate a textbook approach with matching case studies for effective teaching and learningdiscuss multiple international perspectives in order to represent adequately the true global nature of operations, logistics and supply chains.
Operations Management: Policy, Practice and Performance Improvement
by Steve Brown Harvey Maylor Kate Blackmon Paul Cousins'Operations Management: policy, practices, performance improvement' is the latest state-of-the-art approach to operations management. It provides new cutting edge input into operations management theory and practice that cannot be found in any other text. Discussing both strategic and tactical inputs it combines and balances service and manufacturing operations.* Cutting edge techniques accompanied by brand new case studies* Challenges standard approaches* Comprehensive coverage of strategic supply management* Critical sample questions to aid discussion* Reading lists and articles to support learning* Additional lecturer support materialThis outstanding author team is from the Operations Management Group at the University of Bath. Their expertise and knowledge is apparent in the text, and they bring to it their original research and experience in the field of operations management.
Operations Management: Sustainability and Supply Chain Management (Eleventh Edition)
by Jay Heizer Barry RenderFor undergraduate Operations Management courses. A broad, practical introduction to operations, reinforced with an extensive collection of practice problems. Operations Management presents a broad introduction to the field of operations in a realistic and practical manner, while offering the largest and most diverse collection of problems on the market. The problems found in this text also contain ample support--found in the book's solved-problems, worked examples, and myomlab, Pearson's new online homework and tutorial system--to help students complete and understand assignments even when they're not in class. Note: This is the standalone book, if you want the book/access card order the ISBN below: 0133130762 / 9780133130768 Operations Management Plus NEW MyOmLab with Pearson eText -- Access Card Package Package consists of: 013292062X / 9780132920629 NEW MyOMLab with Pearson eText -- Access Card -- for Operations Management 0132921146 / 9780132921145 Operations Management