Operational Risk Reduction Techniques Cover Image

Techniki redukcji ryzyka operacyjnego
Operational Risk Reduction Techniques

Author(s): Michał Thlon
Subject(s): Economy
Published by: Wydawnictwo Uniwersytetu Ekonomicznego w Krakowie
Keywords: operational risk; alternative risk transfer; captive; catastrophe derivatives

Summary/Abstract: Operational risk is a new area of knowledge. The phrase was first used in the 1992 COSO (The Committee of Sponsoring Organizations of the Treadway Commission) report, “Internal Control, Integrated Framework”. However, this nomenclature became widespread only after the collapse of the Barings Bank in 1995. Since then, operational risk has created a great deal of interest among scientists. The main objective of this publication is to present operational risk reduction techniques. The author introduces the most often used approaches to limiting operational risk, beginning from the simplest activities that make it possible to rationalise particular processes of the activity, through insurance and up to alternative forms of risk transfer based on captive insurance companies and financial instruments that promote the limitation of operational risk.

  • Issue Year: 875/2011
  • Issue No: 07
  • Page Range: 47-62
  • Page Count: 16
  • Language: Polish