Last updated 15 June 1999
Operational Risk Web Site
By Robert Tomski, ACA
This web site provides a collection of resources to assist practitioners in the emerging field of operational risk management. It has a particular slant towards financial institutions.
Who we are
Who we are.
Robert Tomski is a consultant in the area of operational risk management for financial institutions, based in London. He has almost twenty years experience in risk and control, including with Deloitte & Touche, Clydesdale Bank, and National Australia Bank.
What is Operational Risk? - How to build a Risk Framework
Operational Risk is commonly defined as anything that is not "pure" credit or market risk. Operational Risk Management is the structured management of these risks.
It is essential that each organisation considers the critical categories of operational risk for its business. The Risk Frameworks page looks at some of the common risk categories used by banks. The page on Disclosure examines extracts from Annual Reports of leading banks
Methodology for Operational Risk Programme
This page outlines a staged process for developing operational risk management processes.
History of operational risk
This page looks at some of the key developments in the discipline, from 1974 (Herstatt) to the present day.
Loss Events, 1998
Headline news grabs attention; the "closer to home" the better. It can often be the spur to internal investigation to answer the question: "could it happen here?"
This page contains examples of loss events reported into the public domain in 1998.
These loss events are only a small selection from a much larger loss event database - well on its way towards 2000 analysed cases.
Corporate governance and risk management standards - COSO, Cadbury, CoCo, CoBit etc
A key driver of enhanced operational risk management has been the articulation and strengthening of corporate governance standards. There has also been a trend towards development of risk and control standards in specialist areas, such as IT.
This page looks at some of these standards, and how they fit together.
Links
This page contains a selection of links to specialist resource materials.