Improving organization means on the one hand searching for adequate product (service) matched to the market, on the other hand shaping the ability to react on risks caused by that activity. The second should consist of identifying and estimating types of risk, and consequently creating solutions...

Operational risk is hard to quantify, for the presence of heavy tailed loss distributions. Extreme value distributions, used in this context, are very sensitive to the data, and this is a problem in the presence of rare loss data. Self risk assessment questionnaires, if properly modelled, may...

Beginning with the fact that performant strategies of the financial institutions have programmes and management procedures for the banking risks, which have as main objective to minimize the probability of risk generation and the bank’s potential exposure, this paper wants to present the...

This paper is a commentary on current and emerging statistical practices for analysing operational risk losses according to the Advanced Measurement Approaches of Basel II, the New Basel Accord. In particular, the limitations of the ability to model operational risk loss data to obtain high...

Someone said long time ago that everything is subject to change and that change is the only constant. If changes, as occurrences of long duration, are viewed through their temporal dimension, we will see that they are unstoppable. This is how it has always been and how it will always be. What is...

The Basel Committee on Banking Supervision has released, in the last few years, recommendations for the correct determination of the risks to which a banking organization is subject. This concerns, in particular, operational risks, which are all those management events that may determine...

Someone said long time ago that everything is subject to change and that change is the only constant. If changes, as occurrences of long duration, are viewed through their temporal dimension, we will see that they are unstoppable. This is how it has always been and how it will always be. What is...

The purpose of this study is to determine the applications of hotel establishments in the scope of operational risk. In this context, a survey was applied to the managers of four and five star hotel establishments in Ankara/Turkey. According to the factor analysis done after the literature...

Financial institutions have always been exposed to operational risk – the risk of loss, resulting from inadequate or failed internal processes and information systems, from misconduct by people or from unforeseen external events. Both banking supervision authorities and banking...

Studies on the management of operational risk in financial organizations have predominantly utilized quantitative and probabilistic approaches. Such approaches provide managers with a way to estimate the probability of operational failure occurring but do not provide insights with regard to...