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|Title:||quotModel Framework for Measuring and Managing Operational Risks in Treasury Operationsin Financial Institutions quot|
|Keywords:||Measuring and Managing Operational Risks|
|University:||Birla Institute of Technology and Science|
|Abstract:||For the past 2-3 decades, Operational Risks have increasingly been considered as one of the major and important financial risks and gained importance similar and to some extent, more than market risk and credit risk. Operational Risk Management (ORM) is acquiring new credibility as a roadmap to add value to the banking business. Day by day, it is attracting more and more attention from regulators, financial institutions and other stakeholders. Operational risk is embedded everywhere and its assessment, at most of the occasions, is subjective. The major reason is, operational risks are entrenched quotwork in progressand#8214; and difficult to quantify. Addressing operational risks in an effective manner is important for business continuity and sustainability of an organisation, as experts believe, these have final impact on the market value of a firm. newlineThough Basel Accord has specified norms for assessment and measurement of operational risks, but these are mainly confined to the calculation of economic and regulatory capital, primarily to meet statutory norms. Besides, these specified assessment and measurement approaches are also based heavily on quantitative and statistical aspects, which require specialised skills and knowledge of statistical tools. Against this backdrop there has been observed a felt need for developing an efficient and effective assessment tool, which has sustainable operational risk management initiatives aligned to institutional strategy. newlineAdhering to these notions, our present research work tries to pin pointedly give a direction for developing an integrated operational risk management framework in the wake of empirical work done for strengthening ORM in banks and financial institutions, for which regulatory as well as individual institutions are required to devise their own mechanisms under Advanced Measurement Approach (AMA), for meeting Basel norms. We attempt in this thesis analysis of quantitative and qualitative aspects of operational risks and propose.|
|Appears in Departments:||Management|
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