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The Operational Risk Handbook for Financial Companies

A guide to the new world of performance-oriented operational risk

By Brian Barnier

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About the Author

Brian Barnier

Brian Barnier uses his cross-discipline, country and industry practical experience to help leaders improve their personal and operational risk program efficiency and effectiveness. In addition, he has been honored to serve on several best-practice committees, developing risk-return management approaches that address both compliance and performance. He was named one of the exclusive Fellows of the ... Read more on Brian Barnier

Contents Listing

About the Author
Acknowledgements
Preface
Foreword-Marshall Carter on Plan B Thinking
Introduction
Touchstones to Keep Focus on Efficiency and Effectiveness
'Been There, Done That'-the Voice of Experience
Bringing it Together

Part 1. Evaluating Risk
1.1. Lighting up 'Dark Corners'
1.2. Know the Business: evaluating the environment and the enterprise
1.3. The Right Tool for the Right Risk Type
1.4. Seeking Scenarios: providing more power to see-the 'why' and 'what'
1.5. Creating More Robust Scenarios More Easily-the 'how'
1.6. Evaluating Scenario Quality and Avoiding Bias
1.7. Creating Insightful Single Sources of Risk Information
1.8. Capital Estimates: Trips, Traps and Pitfalls
1.9. Capital and Performance Incentives
1.10. Watch for Warnings
1.11. Key Insights for Evaluating Risk

Part 2. Responding to Risks
2.1. Responding to Risk: managing options, finding balance, creating levers
2.2. Prioritizing Improvements
2.3. Strengthening the Institution in its Environment
2.4. Improving Control Capability
2.5. Improving Product Management and Fraud Prevention
2.6. Improving IT-related Business Risk Management
2.7. React and Recover-Right Action at the Right Time
2.8. Key Insights for Responding to Risk

Part 3. Oversight of Risk Management
3.1. Oversight of Risk Management
3.2. Four Functions of a Governor
3.3. Key Insights for Oversight and Governing Risk

Part 4. You in Your Institution
4.1. Overcoming Barriers to Better Risk Management
4.2. Your Questions for the Board of Directors
4.3. Conclusion: your opportunity to make a difference

Index
About the Author
Acknowledgements
Preface
Foreword-Marshall Carter on Plan B Thinking
Introduction
Touchstones to Keep Focus on Efficiency and Effectiveness
'Been There, Done That'-the Voice of Experience
Bringing it Together

Part 1. Evaluating Risk
1.1. Lighting up 'Dark Corners'
1.2. Know the Business: evaluating the environment and the enterprise
1.3. The Right Tool for the Right R ...

Jacket Text

The Operational Risk Handbook for Financial Companies is a groundbreaking new book. It seeks to apply for the first time a range of proven operational risk techniques from other industries and disciplines to the troubled territory of financial services.

Operational risk expert Brian Barnier introduces a range of sophisticated, dependable and - crucially - approachable tools for risk evaluation, risk response and risk governance. He provides a more robust way of gaining a better picture of risks, shows how to build risk-return awareness into decision making, and how to fix (and not just report) risks.

The practical importance of fully understanding and acting on risk to the business begins in the foreword on plan-B thinking, penned by Marshall Carter, chairman of the NYSE and deputy chairman of NYSE Euronext.

The book is unique because:

- It is not just about modeling and a few basic tools derived from regulatory requirements. Instead, it looks at management of risk to operations across industries, professional disciplines and history to help ops risk leaders become aware of the entire landscape of proven experience, not just their own conference room.

- It is not just about compliance. Instead, it looks to operations as part of performance - managing risk to return for shareholders and other interests (e.g. guarantee funds).

- It is not content to look at risk in stand-alone segments or silos; instead it takes a systems approach.

- It is not just about ops risk leaders sharing war stories at a conference. Instead, it introduces a panel of six financial institution board members who get risk management and provide their perspectives throughout the book to encourage/demand more from ops risk to meet the needs of the institution in the world.

- It is not a semi-random collection of tips and tricks. Instead, it is grounded in a risk-management process flow tailored to financial companies from a range of proven experience, providing tools to help at each step.

Suitable for companies of all sizes, this book is of direct relevance and use to all business managers, practitioners, boards and senior executives. Key insights from and for each are built into every chapter, including unique contributions from board members of a range of companies.

The Operational Risk Handbook for Financial Companies is an essential book for making better decisions at every level of a financial company; ones that measurably improve outcomes for boards, managers, employees and shareholders alike.

Media Coverage

AOL on Business

VIDEO - ValueBridge Advisors' Brian Barnier talks about gauging the strains of financial markets and what it means for your personal portfolio.

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Risk Articles

As the plane bumped along in choppy air, the pilots scanned their instruments for data ? both on the weather and the performance of the plane to its capabilities. As we disembarked at LGA, the pilot ...

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Corporate Board Member

The ominous message read, ?There?s been a drowning.? I was serving on the board of a non-profit that provided community arts and recreation services. We had our own facilities and managed one of the ...

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Mash Risk Television

Tying Operational Risk Management to Business Performance

ValueBridge Advisors
Brian Barnier, Principal

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The Boardroom Channel - Boardmember.com

Brian Barnier was interviewed for The Boardroom Channel - 28th November 2011

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BoardMember.com

Technology change, competitor action, cyber attacks, supply chain disruption, regulatory change, product blunders and executive departures?the risks to business performance are unceasing in a dynamic ...

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Information Week Reports

Enterprise risk management must be based on a holistic approach targeted at reducing risk to business performance objectives.
By Brian Barnier, ValueBridge Advisors

Systems failures, rogue ...

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Harvard Business Review

Brian Barnier, of ValueBridge Advisors, is the author of The Operational Risk Handbook for Financial Companies (Harriman House, 2011).

We've all experienced buck-passing. In customer support, for ...

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SearchCIO.com

All about the business: Critical insights on operational risk
Brian Barnier, Contributor

Editor's note: Brian Barnier, a frequent contributor to SearchCompliance.com and an Open Compliance and ...

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Open Compliance and Ethics Group

The news headlines keep coming -- Mortgage melt-down, massive data breach, foreclosure robo-signings, trading fraud, client portfolio risk matching errors, ATM and payments system outages, liquidity ...

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ISACA

?We need more executive support!? is a refrain I frequently hear when teaching ISACA audiences. Yet, when I ask, ?Support for what?? I too often get a reply that is disconnected from revenue, cost or ...

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ISACA Newsletter

Risk and control assessments are basic tools. Everyone uses them and most struggle with them. Ask five people at a conference and you will find that even the name is not uniform?risk and control ...

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Desdewallstreet.com

Brian Barnier talks risk management from the floor of the NYSE

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Nyfp.tv

Exclusive Interview: Brian Barnier, ValueBridge Advisors

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Media Review

"The Operational Risk Handbook for Financial Companies by Brian Barnier is a refreshingly practical approach to managing operational risk. It brings focus and clarity to operational risk and its ...

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Risk.mashnetworks.com

Top 5 Risk Research Videos of 2011
- Mash Risk Television 7th December 2011

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Boardmember.com


This Week in the Boardroom - Brian Barnier- The Boardroom Channel 28th November 2011

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Media Review

Four Ways Financial CIOs Can Drive Sharper
Enterprise Risk Management- Information Week Report 21st November 2011

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Boardmember.com

Real Scenarios for Real Performance in Risk Oversight- Boardmember.com 14th November 2011

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Blogs.hbr.org

Good Risk Management Means No Buck-Passing- Harvard Business Review 26th October 2011

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Darkreading.com

UBS Rogue Trader Incident Stirs Access Management Speculation- Dark Reading 20th September 2011

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Media Review

"This book provides practical systematic insights into operational risk from an interdisciplinary perspective. The procedural steps highlighted to measure, manage and mitigate operational risk are a ...

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Media Review

Enterprise Risk Management - Mitigation Strategies for Today's Global Enterprise
- SearchCIO.com 12th August 2011

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Searchcio.techtarget.com

All about the business: Critical insights on operational risk
- Brian Barnier, SearchCIO.com 10th August 2011

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Oceg.org

Operational Risk Management ? Key Shifts Required to Rise to the Challenge
- Brian Barnier, OCEG 1st August 2011

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Isaca.org

Getting business done: Key next steps in IT-related business risk management
- Brian Barnier, ISACA 23rd June 2011

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Isaca.org

Ask Five Questions Before Assessing Your Controls
- Brian Barnier, ISACA Newsletter June 2011

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Brighttalk.com

Integrating IT-Related Business Risk Management: The Next Chapter in Business Benefit- Brian Barnier, Principal, Value Bridge Advisors June 2011

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Afponline.org

Business Continuity: What Financial Professionals Need to Know- AFP Online June 2011

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Informaworld.com

Evaluating Operations and Information Technology Risk in Banks: Opportunities for Auditors to Bring More Value to Institutions- G. David, B. Barnier, EDPACS, Taylor & Francis April/May 2011

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Rmahq.org

Boardroom view of Operational Risk- Special Guest: Humphrey Polanen, Chair, Audit Committe, Board of Directors, Heritage Commerce Corp.- RMA - Operational Risk Roundup April 2011

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Rmahq.org

Avoiding traps in RCSAS, Five questions to ask- RMA - Operational Risk Roundup April 2011

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Risk.mashnetworks.com

Tying Operational Risk Management to Business Performance- Mash Risk Television March 2011

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Video.webcasts.com

Brian Barnier was the featured speaker for a webinar on 'Five Ways to Evaluate the Performance-Focus of Your Operational Risk Management Program'- Compliance Week 24th March 2011

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Risk.mashnetworks.com

Five Steps to Building the Next Level in Operational Risk Management- Mash Risk Television February 2011

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Rmahq.org

Boardroom View of Operational Risk - Special Guest: Ronald Dietz, Chair, Audit & Risk Committee, Board of Directors, Capital One Financial Corp- RMA - Operational Risk Roundup September 2010

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Rmahq.org

Global Insight for Banks of all sizes- RMA - Operational Risk Roundup September 2010

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World Conference on Disaster Management

Risk and control assessments are basic tools. Everyone uses them and most struggle with them. Ask five people at a conference and you will find that even the name is not uniform?risk and control ...

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The Guardian

The internet of everything means connected appliances can generate their own data. Marc Ambasna-Jones asks if insurance companies could use it against us

Domestic appliance manufacturers and ...

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Sarder TV

Follow link to listen to Brian being interviewed about his book - The Operational Risk Handbook for Financial Companies

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