Managing Operational Risk: 20 Firmwide Best Practice Strategiess
Author: Douglas G. Hoffman
List Price: $95.00
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ISBN: 0471412686
Publisher: John Wiley & Sons (11 January, 2002)
Sales Rank: 62,188
Average Customer Rating: 3.22 out of 5
Customer Reviews
Rating: 1 out of 5
Useless
I found this book to be very theoretical and not practical at all. Save your money!
Rating: 2 out of 5
Too much and not enough!
This book is good for those who already know what OpRisk is all about, or at least are familiar with banking terms and financial measurement systems. If you are new to the game, you are likely to become very frustrated. Mr Hoffman throws a multitude of operational risk "building blocks" on the floor in the opening chapter, tells us that we will use them to build a "house", picks them up one-by-one and explains them - sometimes well, sometimes poorly. If you already have the big picture, i.e. you know what the finished "house" is supposed to look like, you will be able to follow - most of the time (see below). If you know little or nothing about OpRisk, I am fully convinced that the book would be easier to understand backwards - i.e. the chapters are read in reverse order (no joke).
There are also several points in the book which had me scratching my head at the consistency of it all! To pick just one example, on page 186 there is a list of what Mr Hoffman calls "Top Down" and "Bottom Up" risk assessment methodologies. In this list, "Delphi Scenarios" is listed as one of the TOP DOWN methods. Two pages later, under the heading "BOTTOM-UP RISK ASSESSMENT METHODS", Delphi Scenarios are discussed/mentioned!!! What is it really - a Top Down or Bottom Up method??
There are several other examples throughout the book likely to cause more than a little confusion to the attentive beginner.
Rating: 4 out of 5
Informative Read
Douglas Hoffman's extensive experience in the field of operational risk shines through in this book as he takes operational risk out of the classroom and applies it to real world examples. This is an insightful read for any operational risk professional. Similar Products
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