Operational Risk Management in Financial Services: A Practical Guide to Establishing Effective Solutions

Operational Risk Management in Financial Services: A Practical Guide to Establishing Effective Solutions, written by Philippa X. Girling, is an insightful and comprehensive guide to managing operational risks in the financial services industry. The book offers a practical approach to identifying, assessing, and mitigating risks that arise from people, processes, and systems within financial organizations.

Girling begins by defining operational risk and explaining its significance in the financial services industry. She then provides a detailed overview of the operational risk management process, covering topics such as risk identification, risk assessment, risk mitigation, and risk monitoring. The author emphasizes the importance of creating a risk-aware culture within financial organizations and provides practical advice for achieving this.

The book includes numerous real-world examples and case studies to illustrate the key concepts discussed. Girling draws on her extensive experience working in operational risk management to provide practical advice for implementing effective risk management solutions. She also covers emerging risks, such as cyber risk, and provides guidance on how financial organizations can effectively manage these risks.

One of the strengths of this book is its practical focus. The author provides clear and actionable guidance for establishing effective risk management solutions. The book includes templates and checklists that can be used to support the implementation of risk management processes, making it a valuable resource for practitioners.

Overall, Operational Risk Management in Financial Services: A Practical Guide to Establishing Effective Solutions is an excellent resource for anyone involved in managing operational risk in the financial services industry. The book is well-written, comprehensive, and practical, and provides valuable insights into managing the risks that arise from people, processes, and systems within financial organizations. I highly recommend this book to anyone looking to improve their understanding of operational risk management in financial services.

Operational Risk Management in Financial Services: A Practical Guide to Establishing Effective Solutions is a great tool for everyone interested in operational risk management in the financial services sector. The book offers helpful insights on managing the risks that originate from people, processes, and systems inside financial organisations and is well-written, thorough, and practical. Anyone wishing to have a better grasp of operational risk management in the financial services industry should read this book, in my opinion.