Reflections on Operational Risk Management - Risk Books
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Reflections on Operational Risk Management

By Ariane Chapelle


Traditionally, operational risk management has been seen as merely another category of risk, distinct from market and credit risk, and defined as the risk resulting from failed processes, people or technology. However, with the convergence of governance, risk and compliance functions, the boundaries and scope of operational risk management are constantly expanding. High-profile cyber-attacks, massive operational risk losses, conduct risk and the future of op risk modelling are just some of the topics pushing operational risk to the top of the financial agenda; there has never been a better time to stop and reflect on where the op risk industry is at and delve a bit deeper into the key themes.


This book brings together 28 of the most pertinent and incisive articles on operational risk in recent years.  Author Ariane Chapelle writes with a wealth of experience and manages to cut through the jargon to get to the heart of the matter.

Publish date: 30 Jun 2017

Availability: In stock


Book description

In Reflections on Operational Risk Management, industry expert Ariane Chapelle, provides a thorough treatment of the current state of op risk management in finance.  For the first time, 28 of her most important articles are combined and organised so as to guide the reader through the key topics and areas.


Divided into six sections the author examines and offers her thoughts on: The Essentials of Operational Risk and Risk Management Framework, Risk Appetite and Risk Decisions, Key Risk Indicators and Reporting, Culture and Conduct, Scenario Analysis and Tail Risks and Regulation & Capital.


The book is essential reading for op risk managers and anybody with an interest in operational risk management.

Book details

Publish date
30 Jun 2017
230mm x 280mm

Author biography

Ariane Chapelle

Ariane Chapelle has a PhD in Economics and is a former holder of the Chair of International Finance at the University of Brussels. Dr Chapelle has been active in operational risk management since 2000, with experience acquired in managerial functions in ING Group and Lloyds Banking Group. Since 2006 Ariane Chapelle has run her own training and consulting practice in risk management. Her clients include Tier 1 Financial Organisations and International Financial Institutions. Dr. Chapelle is Honorary Reader at the University College London in Operational Risk, Fellow of the Institute of Operational Risk and member of the editorial board of the Journal of Operational Risk. She is a columnist for Risk magazine and advisor to the Risk Management Unit of the IMF and ESM.


Table of contents

 Foreword Andrew Sheen

Part 1 Essentials of Operational Risk and Risk Management Framework 

1 Operational risk in four letters

2 An invisible framework

3 Small is beautiful in op risk management

4 The business value of ORM 5 How to minimise 'people risk'

Part 2 Risk Appetite and Risk Decisions

6 The missing incentive

7 Risk appetite and framework

8 Loaded decisions

Part 3 Key Risk Indicators and Reporting

9 Preventive KRIs

10 How to build preventive KRIs

11 Unlocking KRIs

12 Six steps for preventive KRIs

13 Have your cake and eat it

Part 4 Culture and Conduct

14 What regulators want

15 Is reputation risk overstated?

16 Conduct, not 'conduct risk'

17 How to manage incentives

18 Sound practice guidance on conduct: a preview

Part 5 Scenario Analysis and Tail Risks

19 Op Risk takes forward steps at the OpRisk Europe conference 2014

20 Modern scenario analysis

21 The rogue's path

22 Rogue trading, no training: the connections

23 What Brexit teaches op risk

24 Op risk survey shows the insidious effect of political risk

Part 6. Regulation & Capital

25 Discarding the AMA could become a source of op risk

26 UCL research shows that SMA reforms introduces capital instability and discourages risk management

27 Memo to bank CEOs: treat op risk with more respect

28 Don’t let the SMA kill op risk modelling

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