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Operational risk control: Société Geénérale and other well-known cases

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  • Previtali, Rita

Abstract

This paper attempts to establish a parallel between Société Geénérale (SG) and other well-known cases in which operational risk control breaks or gaps led to massive losses and other devastating consequences to the financial institutions in which they occurred. This paper seeks to draw valuable operational risk control lessons that can be applied to the industry, analysing specific circumstances that seem to be present not only at SG, but also at other well-known institutions, such as Barings Bank, Morgan Grenfell, Allied Irish, Daiwa and Mizuho Securities, among others.

Suggested Citation

  • Previtali, Rita, 2009. "Operational risk control: Société Geénérale and other well-known cases," Journal of Securities Operations & Custody, Henry Stewart Publications, vol. 2(1), pages 24-36, February.
    • Handle: RePEc:aza:jsoc00:y:2009:v:2:i:1:p:24-36
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    More about this item

    Keywords

    operational risk management; risk control; risk exposure; trading systems; risk systems security; M-T-M futures positions; straight through processing; trade desk controls; Société Geénérale;
    All these keywords.

    JEL classification:

    • G2 - Financial Economics - - Financial Institutions and Services
    • E5 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit
    • K22 - Law and Economics - - Regulation and Business Law - - - Business and Securities Law

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