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Operational Risk Research
Operational Risk Red Flags: Lessons Learned from Ten Hedge Fund Blow-ups
Penny Cagan, April 2008
This paper examines the lessons learned and ten specific 'red flags' that can be extracted from a case study analysis of recent hedge fund blow-ups, with emphasis on the Amaranth Advisors loss event.
Deconstructing Value
A careful examination of how the characteristics of a loss event can be isolated and analysed in a process that provides context and and content for a robust operational risk self-assessment program.
'Using Loss Data to Quantify Operational Risk'
A discussion that considers newly available data collected from public information sources, and shows how such data can be used to quantify operational risk for large internationally active banks.
Quantifying Capital for Operational Risk
Amidst a great debate over how to quantify capital for operational risk, this edition of 'OR' presents an overview of the alternatives and key considerations in selecting an approach for both internal economic and regulatory capital.
The First Gentle Steps
A discussion of how to achieve an operational risk cultural shift within an organization through the use of a series of common-sense qualitative measures.
Approach with Caution
An honest discussion of both the benefits and pitfalls of designing an operational risk program around an risk indicator approach. Includes examples of risk indicators and an examination of how to develop and track them.
Dependent Events and Operational Risk
Mark-to-Future and Operational Risk
Modelling Operational Losses
Regulatory Revolution Risks Civil War
Basel II and Beyond
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Featured Case Study
An External Perspective
Prudential adds an external loss database to its framework of managing operational risk.