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The Management of Operational Risk Specific to Non-banking Financial Institutions in the Context of Actual Financial Crisis

Author

Listed:
  • Nicolae DARDAC

    (Bucharest Academy of Economic Studies)

  • Petronel CHIRIAC

    (Bucharest Academy of Economic Studies)

Abstract

The current financial crisis is not a singular event in the history of crisis episodes. The essential difference between past episodes of financial turmoil and the actual crisis is the unprecedented severity, the pace of contagion and its global size. Financial markets have been seriously disturbed, threatening the robustness of financial institutions and their ability to meet current needs to properly manage the risk. One such risk is operational risk, which has become an important source of loss not only for credit institutions but, especially, for non-banking financial institutions (NFI). In this context, the main purpose of this study is to present the best techniques and methods of managing this risk, less addressed problem in the literature from our country.

Suggested Citation

  • Nicolae DARDAC & Petronel CHIRIAC, 2010. "The Management of Operational Risk Specific to Non-banking Financial Institutions in the Context of Actual Financial Crisis," Theoretical and Applied Economics, Asociatia Generala a Economistilor din Romania / Editura Economica, vol. 4(4(545)), pages 93-100, April.
    • Handle: RePEc:agr:journl:v:4(545):y:2010:i:4(545):p:93-100
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    Citations

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    Cited by:

    1. Bente Corneliu Cristian, 2010. "Insurance Of Banking Operational Risk," Annals of Faculty of Economics, University of Oradea, Faculty of Economics, vol. 1(1), pages 307-311, July.
    2. Cecilia Irina Rabontu & Ana Gabriela Babucea, 2014. "The Evolution Of Non-Banking Financial Services In Romania Within The Context Of Economic Relaunching," Annals - Economy Series, Constantin Brancusi University, Faculty of Economics, vol. 6, pages 44-49, December.
    3. Nicolae Dardac & Petronel Chiriac & Bogdan Moinescu, 2012. "The Use of Internal Rating Models in Managing the Risks Related to the Exposures of Non-banking Financial Institutions," The AMFITEATRU ECONOMIC journal, Academy of Economic Studies - Bucharest, Romania, vol. 14(31), pages 258-271, February.

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