One of the fastest growing areas of risk governance is that of operational risk management. And yet, while the larger institutions have had great success in developing robust programmes to assess, measure and proactively manage a wide array of risks, the small to medium-sized market has struggled to understand what operational risk management means, how to design a suitable programme and what value can be expected in return. In this book, taken from a series of articles published in OpRisk & Compliance magazine, Eric Holmquist presents sound, practical advice to guide the reader in building a dynamic ORM programme built on the strategies and lessons learned by the larger institutions. This book is ideal for any risk practitioner charged with building a dynamic operational risk programme, particularly if faced with limited resources.

Chapter 1: Scaling op risk management for small and medium-sized institutions

Chapter 2: The operational risk lifecycle

Chapter 3: The fundamentals of operational risk assessments

Chapter 4: How to avoid boundary disputes

Chapter 5: Key risk indicators

Chapter 6: Management reporting

Chapter 7: Managing changes

Chapter 8: Self-assessments

Chapter 9: Technology risk

Chapter 10: Information security

Chapter 11: Business continuity planning

Chapter 12: The ORM programme

Eric Holmquist is vice-president, director of Operational Risk Management for Advanta Bank Corp, with responsibility for the development and oversight of the bank's operational risk management programme. Overall Holmquist has been involved in the financial services industry for more than 20 years. Prior to joining Advanta, he spent more than 12 years heading numerous consulting practices, with clients consisting of local, regional, national and international banks. Prior to his consulting practices, Holmquist spent 10 years in a variety of bank positions with responsibilities in branch operations, investment accounting, arbitrage portfolio modelling and analysis, mortgage securitisation and systems support.
Holmquist also chairs the Operational Risk Management for IT committee through the Risk Management Association, a nationwide trade group, based in Philadelphia, focused on sound risk management practices in the global financial services industry. Previously Holmquist was also an executive member of the California Bankers Association Electronic Commerce Committee.
Holmquist is an author and frequent industry speaker on topics related to operational risk management, information technology, information security and compliance. He is a co-author of The Advanced Measurement Approach to Operational Risk (Risk Books), Risk Management for Banks (Sheshunoff) and writes periodic articles on operational risk management topics for various industry publications