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The Conceptualisation of Operational Risk Lanagement Models

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  • Christopher Viney

Abstract

Operational risk is evolving as a specialist field of risk management that must be practiced within all organisations, but currently has a particular relevance to banks. The Basel Committee on Banking Supervision has circulated a consultative paper which, if adopted by nation-state bank supervisors, will impose an operational risk capital charge on banks as part of a new Capital Accord. The definition of operational risk is wide-ranging and creates some unique issues related to the development of appropriate risk management models. This paper conceptualises two distinct operational risk management models; being a predictive model that will result in a known outcome upon its implementation, and a pre-emptive operational risk management model which prepares an organisation in the event that a future risk occurrence results in a disruption to critical business operations.

Suggested Citation

  • Christopher Viney, 2004. "The Conceptualisation of Operational Risk Lanagement Models," Working Papers 2004_20, Deakin University, Department of Economics.
    • Handle: RePEc:dkn:acctwp:aef_2004_20
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    File URL: http://www.deakin.edu.au/buslaw/aef/workingpapers/papers/swp2004_20.pdf
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