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The Operational Risk Handbook for Financial Companies: A guide to the new world of performance-oriented operational risk by Brian Barnier

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Preface

It’s business: Changing economic, competitive, natural and regulatory environments are forcing more emphasis on managing risk in business operations as institutions acquire, divest, launch new products, enter new geographic areas, consolidate and/or seek efficiency gains.

It’s business and it’s personal: ‘I want to keep the boss/board/regulators happy’ or ‘I need more resources to meet objectives’.

It’s just plain personal: ‘I want to finish working before midnight!’

Operational risk is important to financial companies for three key reasons:

  1. Bottom-line impact. Without operations, there is no business—and without managing operational risk there will soon be no operations. Operations are the range of activities that create, sell ...

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