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This presentation is based on a part of an academic course on Enterprise Risk Management (ERM) titled ‘Operational Risk’ and covers topics such as: case studies, a game-theoretic approach to considering operational risk and statistical modelling of operational risk

Slides

1	Session 6: Operational Risk
2	Session 6: Operational Risk
3	What is Operational Risk?
4	Basel Committee’s view
5	Insurers
6	Asset managers
7	Agency problems, monitoring and control
8	More controls or more control?
9	Benchmarking processes and losses versus others
10	E.g. Basel Committee Surveys
11	Survey suggests
12	Lumpiness of losses
13	Session 6: Operational Risk
14	Case Studies (1)
15	Case Studies (2)
16	Case Studies (3)
17	Session 6: Operational Risk
18	An illustrative game theoretic model of fraud
19	Agent’s actions
20	Diagrammatic exposition of strategies
21	Equilibria
22	Characteristics of intermittent fraud equilibrium
23	Session 6: Operational Risk
24	Statistical modelling of operational risk
25	Hazard rates
26	Simple example of a hazard rate
27	Hazard rates that vary through time
28	Simulating independent failure times
29	Incorporating dependence in failure times
30	Fitting loss distributions
31	E.g. Gamma distribution
32	An example application (1)
33	An example application (2)
34	An example application (3)
35	Important Information

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