IS risks and operational risk management in banks

Autori

• Elke Wolf

Parametri

• Libri di testo
• Libri di testo universitari

Maggiori informazioni sul libro

Financial risk management has traditionally been a key focus for banks, but operational risks have recently gained prominence, highlighted by the New Basel Capital Accord and the Sarbanes-Oxley Act. Given the reliance of the banking industry on information systems (IS), the need for effective operational risk management necessitates input from the IS discipline. An empirical study involving the Top 100 German banks included 43 face-to-face interviews with managers from IS/IT and risk management departments across Germany. Three main perspectives on IS risk management were examined. First, it was found that existing IS approaches do not adequately support effective IS risk management. The second perspective explored current operational risk management practices within the German banking sector. The third perspective identified banks' requirements for robust management of IS risks as operational risks. This research offers valuable insights for both academia and practitioners, proposing several recommendations to aid banks in aligning with the Basel Committee on Banking Supervision's guidelines by 2007. Additionally, this work lays the groundwork for an IS risk management framework that encompasses all IS risk categories throughout the system life cycle, with potential applications in other IS-dependent industries, such as insurance under Solvency II.

Lingua: Inglese

Pubblicato: 2005

(In brossura)