Overview

Patrick McConnell

As noted in the Introduction, this book is divided into three parts.

    • Part I introduces some of the key concepts in the book, in particular systemic operational risk and the enormous losses that result from such events. The chapters in this section also discuss concepts such as macro-culture and innovation, and then develop a new model: the seismic model of systemic operational risk.
    • Part II provides case studies of systemic operational risk, in particular mis-selling of financial products such as payment protection insurance (PPI) and cases of manipulation across various markets, such as the Libor and FX benchmarks. It also addresses examples of systemic legal risks, such as violations of AML legislation.
    • Part III discusses the regulation of systemic operational risks and makes specific suggestions for macro and microprudential regulation of systemic operational risk.

It is not necessary to repeat the descriptions of these chapters here, but instead we will summarise some of the themes that appear throughout the book, as these themes create the conditions in which systemic operational risks emerge.

INNOVATION

Innovation is key

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Risk.net? View our subscription options

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here