Managing Operational Risk: Beyond Basel II

download KPMG white paper from

http://us.kpmg.com/microsite/FSLibraryDotCom/docs/FRM_ManagingOpRisk_WP.pdf

Managing Credit Risk: Beyond Basel II

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http://us.kpmg.com/microsite/FSLibraryDotCom/docs/FRM_ManagingCreditRisk_WP.pdf

Lessons in Operational Risk Management

Notes on a Scandal: Lessons in Operational Risk Management from Société Générale
Sponsored By Diamond Management & Technology Consultants (2008)



Abstract:

Lightning can, in fact, strike twice and banks that want to avoid being rocked by a Société Générale-scale fraud incident need to move beyond stop-gap measures and build a culture of operational risk management. This report examines facts that have emerged thus far from the Société Générale situation, and the probable causes of fraud point to deficiencies in operational risk management. While details are still surfacing, Société Générale, or SocGen, appears to have lacked three essential ingredients in establishing a resilient operational risk environment: automated processes, an internal controls culture, and strong IT access controls. Banks that grasp the business and technology details of these primary operational risk management elements will lead the pack in managing fraud risks.

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http://www.cfo.com/whitepapers/index.cfm/displaywhitepaper/10942142