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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.
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
Making A Scene
This article examines several instances of rogue trading and the underlying weaknesses within the financial institutions that allowed them to occur, with a focus of commonalities across the events.
The Actuarial Approach to Loss Distribution
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