New Tendencies of Management and Control of Operational Risk in Financial Institutions

Procedia - Social and Behavioral Sciences 2013
Pjotrs Dorogovs, Irina Solovjova, Andrejs Romānovs

Nowadays, financial institutions highly recognize a great influence of effective risk management on profit abilities. Therefore risk management became an important part of the financial instrument. According to the latest researches, there still remain problems related to the management of various types of risks. For instance, the Basel Committee of the Bank of International Settlements imposes financial institutions for more intensive devoting their attention to operational risk management problems. Due to the increased intensity of performed financial operations, financial institutions became very vulnerable to operational risks. In many cases, the high level of operational risks is conditioned by IT system failures.

Keywords
Stability; banking system; operational risks; information technology
DOI
10.1016/j.sbspro.2013.10.564
Hyperlink
http://ac.els-cdn.com/S1877042813040093/1-s2.0-S1877042813040093-main.pdf?_tid=134994c4-5cf9-11e3-a023-00000aab0f02&acdnat=1386171239_6793f89973d0c49def3630b8c9871b90

Dorogovs, P., Solovjova, I., Romānovs, A. New Tendencies of Management and Control of Operational Risk in Financial Institutions. Procedia - Social and Behavioral Sciences, 2013, Vol.99, pp.911-918. ISSN 1877-0428. Available from: doi:10.1016/j.sbspro.2013.10.564

Publication language
English (en)