An Integrated Approach to Operational Risk Management – The Role of Process Safety Management

2017 ◽  
Author(s):  
Mike Neill
Keyword(s):  
Risk Management ◽  
Safety Management ◽  
Operational Risk ◽  
Integrated Approach ◽  
Process Safety ◽  
Operational Risk Management

Role of Analytics for Operational Risk Management in the Era of Big Data

2020 ◽  
Vol 51 (6) ◽  
pp. 1320-1346 ◽  
Author(s):  
Ozgur M Araz ◽  
Tsan‐Ming Choi ◽  
David L Olson ◽  
F. Sibel Salman
Keyword(s):  
Risk Management ◽  
Big Data ◽  
Operational Risk ◽  
Operational Risk Management

scholarly journals Risk management as a social defence against anxiety

2012 ◽  
Vol 38 (2) ◽  
Author(s):  
Dirk J. Geldenhuys ◽  
Madia M. Levin ◽  
Annelize Van Niekerk
Keyword(s):  
Risk Management ◽  
African Country ◽  
Operational Risk ◽  
The Unconscious ◽  
Operational Risk Management ◽  
Doing Business ◽  
Managerial Implications ◽  
Value Add ◽  
Managing Risk

Orientation: This article deals with the unconscious role of risk management in an African country.Research purpose: The aim of the study is to describe how risk management unconsciously influences behaviour when doing business in an African country.Motivation for the study: Operational risk management is a rational management imperative. However, this does not take cognisance of the unconscious role of risk management. A systems-psychodynamic perspective might be particularly relevant if the anxiety implied in risk management is not appropriately contained. Awareness of these dynamics may provide an opportunity for addressing them and allow for a more holistic way of managing risk.Research design, approach and method: The researchers conducted the study as a qualitative case study in an African country. They used purposive sampling and analysed the data using qualitative content analysis.Main findings: Viewing risk management from a systems-psychodynamic perspective allowed the researchers to identify the influence of risk management on the behaviour of people. The emerging hypothesis was that, if businesses do not address the anxiety underlying risk management, managing risk becomes a social defence against the anxiety.Practical/managerial implications: Awareness of the anxiety involved in risk management may assist businesses to manage risk in a more realistic way, making provision for, and even capitalising on, the human element.Contributions/value-add: The article provides a systems-psychodynamic, and hence a more complete, perspective of operational risk management when doing business in an African country.

Collaboration Methods and Tools for Operational Risk Management

2011 ◽  
pp. 68-73
Author(s):  
Jürgen H.M. van Grinsven ◽  
Marijn Janssen ◽  
Henk de Vries
Keyword(s):  
Risk Management ◽  
Operational Risk ◽  
Expert Judgement ◽  
Research Issues ◽  
Operational Risk Management ◽  
Future Developments ◽  
Elicitation Process ◽  
Multiple Experts

In this article, collaboration methods and tools are discussed for supporting multiple expert judgement issues. First, an overview of ORM will be provided by discussing the main phases of ORM. Second collaboration methods and tools are presented that can be used to support the multiple experts’ judgment and elicitation process and the role of experts is discussed. Finally research issues are discussed that need to be solved to leverage the full advantages of collaboration methods and tools as well as future developments.

Institutionalizing Operational Risk Management: An Empirical Study

2014 ◽  
Vol 29 (1) ◽  
pp. 59-72 ◽  
Author(s):  
Carol Hsu ◽  
James Backhouse ◽  
Leiser Silva
Keyword(s):  
Risk Management ◽  
Financial Institution ◽  
Technological Development ◽  
Operational Risk ◽  
Structuration Theory ◽  
Management Approach ◽  
Operational Risk Management ◽  
Operational Risks ◽  
Role Of It

This paper examines the development of operational risk management (ORM) in a financial organization, focusing in particular on the role of IT in institutionalizing the new regime. Through an interpretive case study in a major US financial institution, the paper uses Giddens’ structuration theory to examine how it adjusts to the demands of protecting itself against new operational risks. The discussion and results of our study are expressed in three propositions: (1) the regulatory context and technological development affect the shape and the outcome of ORM; (2) implementing ORM is a process of reflexive monitoring and transforming organizational practices in a financial institution; (3) the role of IT in ORM is contingent on the extant organizational structure and on the choice of risk management approach.

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