An overview of today's energy markets from a multi-commodity perspective As global
warming takes center stage in the public and private sectors, new debates on the future of …

Operational risk has, in a relatively short period of time, risen from non‐recognition to
prominence as the culprit for spectacular corporate collapses. This paper surveys the …

Operational risk is being considered as an important risk component for financial institutions
as evinced by the large sums of capital that are allocated to mitigate this risk. Therefore, risl …

Purpose Due to increase in operational risk, banks are facing huge losses. In order to avoid
losses, banks need to manage operational risk. This study aims to analyze the impact of …

Developed over 20 years of teaching academic courses, the Handbook of Financial Risk
Management can be divided into two main parts: risk management in the financial sector; …

The management of operational risk in the banking industry has undergone explosive
changes over the last decade due to substantial changes in the operational environment …

ABSTRACT The Advanced Measurement Approach in the Basel II Accord permits an
unprecedented amount of flexibility in the methodology used to assess operational risk …

My interest in operational risk can be traced back to the ten years or so I spent in investment
banking before I took the heroic decision to move to academia. That was during the 1980s …

Estimation of the operational risk capital under the Loss Distribution Approach requires
evaluation of aggregate (compound) loss distributions which is one of the classic problems …

Böcker and Klüppelberg [Risk Mag., 2005, December, 90–93] presented a simple
approximation of OpVaR of a single operational risk cell. The present paper derives …