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The Operational Risk Handbook for Financial Companies

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  • Dan Swanson
    The Operational Risk Handbook for Financial Companies http://www.harriman-house.com/operationalriskhandbookforfinancialcompanies   The Operational Risk
    Message 1 of 9 , 21 Jul, 2011
      The Operational Risk Handbook for Financial Companies
       
      The Operational Risk Handbook for Financial Companies is a groundbreaking new book. It seeks to apply for the first time a range of proven operational risk techniques from other industries and disciplines to the troubled territory of financial services.

      Operational risk expert Brian Barnier introduces a range of sophisticated, dependable and - crucially - approachable tools for risk evaluation, risk response and risk governance. He provides a more robust way of gaining a better picture of risks, shows how to build risk-return awareness into decision making, and how to fix (and not just report) risks.

      The practical importance of fully understanding and acting on risk to the business begins in the foreword on plan-B thinking, penned by Marshall Carter, chairman of the NYSE and deputy chairman of NYSE Euronext.

      The book is unique because:

      - It is not just about modeling and a few basic tools derived from regulatory requirements. Instead, it looks at management of risk to operations across industries, professional disciplines and history to help ops risk leaders become aware of the entire landscape of proven experience, not just their own conference room.

      - It is not just about compliance. Instead, it looks to operations as part of performance - managing risk to return for shareholders and other interests (e.g. guarantee funds).

      - It is not content to look at risk in stand-alone segments or silos; instead it takes a systems approach.

      - It is not just about ops risk leaders sharing war stories at a conference. Instead, it introduces a panel of six financial institution board members who get risk management and provide their perspectives throughout the book to encourage/demand more from ops risk to meet the needs of the institution in the world.

      - It is not a semi-random collection of tips and tricks. Instead, it is grounded in a risk-management process flow tailored to financial companies from a range of proven experience, providing tools to help at each step.

      Suitable for companies of all sizes, this book is of direct relevance and use to all business managers, practitioners, boards and senior executives. Key insights from and for each are built into every chapter, including unique contributions from board members of a range of companies.

      The Operational Risk Handbook for Financial Companies is an essential book for making better decisions at every level of a financial company; ones that measurably improve outcomes for boards, managers, employees and shareholders alike.
    • Dan Swanson
      Failing to learn from the past is foolish, failing to prepare for the future is arrogant.   Risk management is not a paperwork exercise for compliance.
      Message 2 of 9 , Nov 28 9:06 AM

        This note is a bit overdue as The Operational Risk Handbook for Financial Companies (http://www.harriman-house.com/operationalriskhandbookforfinancialcompanies) has now been out for a few months.

         

        Still, wanted to take a moment on this weekend to thank a number of you on this list for your thoughts and insights. Your experiences contributed to the range of lessons reviewed and suggested improvements presented. In some cases, I’ve quoted specific insights and publications, other broader contributions are duly noted in the Acknowledgements.

         

        The contributions from a wide range of people across time, industries, disciplines and countries were especially valuable for this project as one of the expressed goals was to break out of the silos and craft a more business performance-focused perspective to risk management.

        In addition, they also helped (hopefully) achieve other objectives such as a systems view of risk, and harmonizing a risk process flow that is more output-oriented and embraces touch-points from a range of disciplines (hopefully making it faster and easier to implement in organizations).

         

        So, in sum, the diversity and vigor of this list have been much appreciated. I’d name my many individual friends here, but fear forgetting someone. I can at least thank Dan for bringing us all together. Thus, a big THANK YOU.

         

        Best,

         

        Brian

         

        p.s. you might find this article for board members helpful, http://www.boardmember.com/Article_Details.aspx?id=7032

         

        Brian Barnier

        Envision - Align - Focus - Execute

        ValueBridge Advisors, LLC

        brian@...

        +1.203.295.0426 x703

        AOL IM and Yahoo IM screen name BrianBarnier

        News of "green shoots" and risk on www.twitter.com\Brian_Barnier

        The Operational Risk Handbook for Financial Companies (Harriman House, London, 2011)

         

        Failing to learn from the past is foolish, failing to prepare for the future is arrogant.
         
        Risk management is not a paperwork exercise for compliance. Compliance will always leave gaps and exposures to real business risk that can harm customers, partners and shareholders. Look at the litter of companies over the years who have been compliant and still suffered loss.    
         
                                                                                        -- Brian Barnier.
        _______________________________________________________________
        fyi and consideration.
         
        1. The Operational Risk Handbook for Financial Companies (Is now available)
         
        2. Brian's web site on Performance-Oriented Risk Management
        Enjoy.
         
        Dan Swanson
        ________________

        --- On Sat, 11/26/11, Brian Barnier <brian@...> wrote:

        Greetings all,

         

      • Dan Swanson
        The Operational Risk Handbook for Financial Companies A guide to the new world of performance-oriented operational risk By: Brian Barnier 
        Message 3 of 9 , 12 Oct, 2012
          The Operational Risk Handbook for Financial CompaniesA guide to the new world of performance-oriented operational risk By: Brian Barnier 

          The Operational Risk Handbook for Financial Companies is a groundbreaking new book. It seeks to apply for the first time a range of proven operational risk techniques from other industries and disciplines to the troubled territory of financial services.

          Operational risk expert Brian Barnier introduces a range of sophisticated, dependable and - crucially - approachable tools for risk evaluation, risk response and risk governance. He provides a more robust way of gaining a better picture of risks, shows how to build risk-return awareness into decision making, and how to fix (and not just report) risks.

          The practical importance of fully understanding and acting on risk to the business begins in the foreword on plan-B thinking, penned by Marshall Carter, chairman of the NYSE and deputy chairman of NYSE Euronext.

          The book is unique because:

          - It is not just about modeling and a few basic tools derived from regulatory requirements. Instead, it looks at management of risk to operations across industries, professional disciplines and history to help ops risk leaders become aware of the entire landscape of proven experience, not just their own conference room.

          - It is not just about compliance. Instead, it looks to operations as part of performance - managing risk to return for shareholders and other interests (e.g. guarantee funds).

          - It is not content to look at risk...

          fyi and consideration.

          Regards.
           
          Dan
          Dan Swanson and Associates, Ltd.
          "Quality is never an accident; it is always the result of high intention, sincere effort, intelligent
          direction, and skillful execution; it presents the wise choice of many alternatives." 
          - W. Foster.

          Linkedin Profile: http://www.linkedin.com/profile/view?id=646481&trk=tab_pro
          email: dswanson_2008@...
          Author of "Swanson on Internal Auditing: Raising the Bar!"
          http://www.itgovernance.co.uk/media/article.aspx?news_id=1369
          Editor-in-Chief, EDPACS
          http://www.tandfonline.com/action/aboutThisJournal?show=editorialBoard&journalCode=uedp20
          "Take calculated risks. That is quite different from being rash" -- George S. Patton.
          Auditing and Assessing IT Governance


        • Dan Swanson
          The Operational Risk Handbook for Financial Companies A guide to the new world of performance-oriented operational risk - By: Brian Barnier
          Message 4 of 9 , 21 Jan, 2014

            The Operational Risk Handbook for Financial Companies

            A guide to the new world of performance-oriented operational risk - By: Brian Barnier

            Dan
            Dan Swanson and Associates, Ltd.
            “It is not enough to do your best, you must know what to do and then do your best.
            Does experience help? No! Not if we are doing the wrong things".- Deming. 
            Author of "Swanson on Internal Auditing: Raising the Bar!"
            http://www.itgovernanceusa.com/product/249.aspx



          • Dan Swanson
             Growth: More safety building value The Operational Risk Handbook for Financial Companies A Performance-Oriented Approach to Operational Risk Management
            Message 5 of 9 , Nov 7 11:08 AM
               
              Growth: More safety building value
               
              The Operational Risk Handbook for Financial Companies

              A Performance-Oriented Approach to Operational Risk Management


               
               
              • We must push hard enough to see enough to understand potential problems and opportunities in a changing environment.
              • Risk management should improve agility, making it safer to move in a changing environment.
              • Risk management doesn't matter if people don't act differently.
              -- Brian Barnier

              Risks We Face, Challenges to Improvement

              Risks to products and operations in financial service firms are everywhere.

              The global financial crisis of 2007-2009 occurred in an environment of multiple operational problems, but even before the crisis banks were suffering a range of inefficiencies and gaps as they sought to provide services.

              Meanwhile existing guidance approaches operational risk as either a set of boxes to be ticked off, or an abstruse set of calculations to be undertaken at ever greater remove from the human reality of day-to-day work in a financial services firm.
              Path to Performance, Easier Progress

              Stepping into this gap, and providing clear and accessible guidance for financial firms of all sizes and activities, The Operational Risk Handbook for Financial Companies is a groundbreaking new book. It seeks to apply for the first time a range of proven ops risk techniques from other industries and disciplines to the troubled territory of financial services.

              Operational risk expert Brian Barnier introduces a range of sophisticated, dependable and - crucially - approachable tools for risk evaluation, risk response and risk governance. He provides a more robust (even fun) way of gaining a better picture of risks, shows how to build risk-return awareness into decision making, and how to fix (and not just report) risks.

              The practical importance of fully understanding and acting on risk to the business begins in the foreword on plan-B thinking, penned by Marshall Carter, chairman of the NYSE and deputy chairman of NYSE Euronext.

              For Companies of All Sizes

              Suitable for companies of all sizes, this book is of direct relevance and use to all business managers, practitioners, boards and senior executives. Key insights from and for each are built into every chapter, including unique contributions from board members from a range of financial companies -- Ronald Dietz, Capital One; Mark Olson, former governor, Federal Reserve System; Karen Osar, Webster Financial; Humphrey Polanen, Heritage Commerce Corp.; and Richard Sergel, State Street.

              The Operational Risk Handbook for Financial Companies is an essential book for making better decisions at every level of a financial services firm: ones that measurably improve outcomes for boards, managers, employees and shareholders alike.

              The Handbook is unique because:
              • It’s not just about modeling and a few basic tools derived from regulatory requirements. Instead, it looks at management of risk to products and operations across industries, professional disciplines and history to help risk leaders become aware of the entire landscape of proven experience, not just their conference room.
              • It’s not just about compliance. Instead, it looks to operations as part of performance -- managing risk to return for shareholders and other interests (e.g., guarantee funds).
              • It’s not content to look at risk in segments or silos, instead it takes a systems approach.
              • It’s not just about ops risk leaders sharing war stories at a conference. Instead, it introduces a panel of six financial institution board members who “get” risk management and provide their perspectives throughout the book to encourage/demand more from ops risk to meet the needs of a company in a dynamic world.
              • It’s not a semi-random collection of tips and tricks. Instead, it is grounded in a risk management process flow tailored to financial companies from a range of proven experience. Then, tools to help at each step.
              Regards
              Dan
              Dan Swanson and Associates, Ltd.
              “It is not enough to do your best, you must know what to do and then do your best. Does experience help? No! Not if we are doing the wrong things".- Deming.
              Author of "Swanson on Internal Auditing: Raising the Bar!"
              http://www.itgovernanceusa.com/product/249.aspx



            • Dan Swanson
                ... Operational risk expert Brian Barnier introduces a range of sophisticated, dependable and - crucially - approachable tools for risk evaluation, risk
              Message 6 of 9 , 10 Feb, 2015
                 
                The Operational Risk Handbook for Financial Companies
                 
                The Operational Risk Handbook for Financial Companies is a groundbreaking new book. It seeks to apply for the first time a range of proven operational risk techniques from other industries and disciplines to the troubled territory of financial services.

                Operational risk expert Brian Barnier introduces a range of sophisticated, dependable and - crucially - approachable tools for risk evaluation, risk response and risk governance. He provides a more robust way of gaining a better picture of risks, shows how to build risk-return awareness into decision making, and how to fix (and not just report) risks.

                The practical importance of fully understanding and acting on risk to the business begins in the foreword on plan-B thinking, penned by Marshall Carter, chairman of the NYSE and deputy chairman of NYSE Euronext.

                The book is unique because:

                - It is not just about modeling and a few basic tools derived from regulatory requirements. Instead, it looks at management of risk to operations across industries, professional disciplines and history to help ops risk leaders become aware of the entire landscape of proven experience, not just their own conference room.

                - It is not just about compliance. Instead, it looks to operations as part of performance - managing risk to return for shareholders and other interests (e.g. guarantee funds).

                - It is not content to look at risk in stand-alone segments or silos; instead it takes a systems approach.

                - It is not just about ops risk leaders sharing war stories at a conference. Instead, it introduces a panel of six financial institution board members who get risk management and provide their perspectives throughout the book to encourage/demand more from ops risk to meet the needs of the institution in the world.

                - It is not a semi-random collection of tips and tricks. Instead, it is grounded in a risk-management process flow tailored to financial companies from a range of proven experience, providing tools to help at each step.

                Suitable for companies of all sizes, this book is of direct relevance and use to all business managers, practitioners, boards and senior executives. Key insights from and for each are built into every chapter, including unique contributions from board members of a range of companies.

                The Operational Risk Handbook for Financial Companies is an essential book for making better decisions at every level of a financial company; ones that measurably improve outcomes for boards, managers, employees and shareholders alike.
              • Dan Swanson
                1. Discover insights and services for your role... http://www.valuebridgeadvisors.com/index.html  2. The ValueBridge Advisors team has created a library of
                Message 7 of 9 , 13 Jan, 2016

                  Recognition.png

                  1. Discover insights and services for your role...

                   
                  2. The ValueBridge Advisors team has created a library of practical 
                  insight, including professional literature contributions. 

                  3. The Operational Risk Handbook for Financial Companies

                  Regards
                  Dan
                  Dan Swanson and Associates, Ltd.
                  We are what we repeatedly do.Excellence, therefore, is not an act but a habit. Aristotle
                  Shareholder Actions in Cyber Security (workshop)
                • Dan Swanson
                    1. Discover insights and services for your role... http://www.valuebridgeadvisors.com/index.html  2. The ValueBridge Advisors team has created a library of
                  Message 8 of 9 , Jun 13

                     

                    Recognition.png

                    1. Discover insights and services for your role...

                     
                    2. The ValueBridge Advisors team has created a library of practical 
                    insight, including professional literature contributions. 

                    3. The Operational Risk Handbook for Financial Companies

                    Regards
                    Dan
                    Dan Swanson and Associates, Ltd.
                    We are what we repeatedly do.Excellence, therefore, is not an act but a habit. Aristotle
                  • Dan Swanson
                    1. Discover insights and services for your role... #yiv7139961717 -- #yiv7139961717ygrp-mkp {border:1px solid #d8d8d8;font-family:Arial;margin:10px 0;padding:0
                    Message 9 of 9 , Sep 27
                      1. Discover insights and services for your role...
                       
                      2. The ValueBridge Advisors team has created a library of practical 
                      insight, including professional literature contributions. 

                      3. The Operational Risk Handbook for Financial Companies

                      Regards
                      Dan
                      Dan Swanson and Associates, Ltd.
                      We are what we repeatedly do.Excellence, therefore, is not an act but a habit. Aristotle
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