Operational Risk

Real solutions and innovative research on operational risk from top thinkers in the field More than 100 operational losses exceeding $100 million in value have impacted firms globally over the past decade. Such large-scale losses have resulted in bankruptcies, mergers, or equity price declines for a large number of prominent financial institutions throughout the world. Operational Risk gives readers a deep understanding of all aspects of operational risk with information on existing loss models for quantification of operational risk and assessment of capital charge. It suggests innovative approaches and new methodologies for modeling operational risk and offers a number of relevant examples from financial institutions. Anna S. Chernobai, PhD (Syracuse, NY), is an Assistant Professor of Finance and Statistics in the M.J. Whitman School of Management at Syracuse University. Svetlozar T. Rachev, PhD, Dr.Sci. (Santa Barbara, CA), is Chair-Professor at the University of Karlsruhe, Germany, in the School of Economics and Business Engineering, Professor Emeritus at the University of California, Santa Barbara, in the Department of Statistics and Applied Probability, and Chief Scientist of FinAnalytica Inc. Frank J. Fabozzi, CFA, CPA (New Hope, PA), is an Adjunct Professor of Finance in the School of Management at Yale University.