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Digital Money: Operational Risks and the Threats to Operational Resilience
£85.00
In his new book, Digital Money: Operational Risks and the Threats to Operational Resilience, Patrick McConnell evaluates the far-reaching impacts of emerging types of digital money upon financial institutions’ operational risk and resilience profiles.
Many new operational risks could potentially arise as digital money innovations are integrated with existing systems. In addition to helping to manage existing risks, operational risk management (ORM) groups will have to become experts in technology and cryptography.
The author’s comprehensive analysis of how the digital financial ecosystem is adapting covers:
• emerging types of digital money, evolving global and instant payments, cryptocurrencies, central bank digital currencies (CBDCs) and stablecoins; and
• other financial and technology innovations, such as post-quantum computing.
Digital Money: Operational Risks and the Threats to Operational Resilience is essential reading for risk managers, regulators and senior executives alike who are looking to protect their organisations and adapt to the fast-changing and ever-expanding digital money landscape.
Availability:
In stock
ISBN
9781782724506
In his new book, Digital Money: Operational Risks and the Threats to Operational Resilience, Patrick McConnell evaluates the far-reaching impacts of emerging types of digital money upon financial institutions’ operational risk and resilience profiles.
The rise of digital money potentially offers diverse benefits such as faster transactions, lower transactions fees, greater security, transparency and greater inclusivity. However, the author highlights how the move towards the full digitisation of money could radically change the relationship between banking operations and operational risks.
McConnell discusses how many new operational risks could potentially arise as digital money innovations are integrated with existing systems. In addition to helping to manage existing risks, operational risk management (ORM) groups will have to become experts in technology and cryptography – both of brand-new digital money technologies and existing technologies which will have to be replaced or significantly modified. The author explores how the digital financial ecosystem is adapting – providing a comprehensive analysis which covers emerging types of digital money,
evolving global and instant payments, cryptocurrencies, central bank digital currencies (CBDCs) and stablecoins, and other financial and technology innovations, such as post-quantum computing. McConnell discusses potential digital money vulnerabilities which could disrupt the core systems of all banks and thus the overall resilience of the banking system. McConnell’s analysis of what’s at stake is underpinned by decades of the author’s experience in risk management and information technology.
For risk managers, regulators and senior executives alike, Digital Money: Operational Risks and the Threats to Operational Resilience is both a wake-up call and a playbook. Packed with insights, case studies, and practical guidance, this book is essential for anyone looking to protect their organisations and adapt to the fast-changing and ever-expanding digital money landscape.
| ISBN | 9781782724506 |
|---|---|
| Navision code | MGDM |
| Publication date | 26/02/2025 |
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Patrick McConnell
Dr Patrick McConnell has been a senior executive in, and a consultant to, large international corporations, financial institutions and governments on multiple continents for over 35 years.
His expertise is in risk management and information technology.
In his academic career, McConnell has taught post-graduate and executive courses in Australia, China, Japan, India and Ireland. He has published widely in books and academic journals, especially on strategic risk and operational risk management. He holds a doctorate in business administration and degrees in pure and applied mathematics, is a fellow of the British Computer Society, a member of the IEEE, a Six Sigma Black Belt, and a graduate of the Australian Institute of Company Directors.
| Introduction: Money is information on the move | |
| PART 1: TRENDS IN DIGITAL MONEY AND THE IMPACT ON OPERATIONAL RISK MANAGEMENT | |
| 1 | Trends in digital money |
| 2 | How digital money creates new operational risks |
| 3 | Operational risk and cryptography |
| 4 | Operational risks of digital money |
| PART 2: TYPES OF DIGITAL MONEY | |
| 5 | Commercial bank digital money |
| 6 | Private digital money, including cryptocurrencies |
| 7 | Public digital money, including CBDCs |
| PART 3: IMPACT OF DIGITISATION ON OPERATIONAL RISK FUNCTIONS | |
| 8 | Impact of digitisation on operational risk management |
| 9 | Impact of digitisation on operational risk organisations |
| 10 | Impact of digital money and operational resilience on ORM processes and people |
| 11 | Impact of digitisation on operational risk management in the future |
| PART 4: THEORIES OF DIGITAL MONEY | |
| 12 | Theory of money |
| 13 | Information theory |
| 14 | Classical cryptography |
| 15 | Modern cryptography |
| 16 | Conclusion |
| Appendix 1 | Significant contributors to information theory and cryptography |
| Appendix 2 | Timeline of significant contributions to information theory and cryptography |
| Appendix 3 | Relevant information standards |
| Appendix 4 | High-level risk registers |