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Managing Operational Risk In Banks

Author

Listed:
  • Victoria Stanciu

    (Faculty of Accounting and Management Information Systems, The Bucharest Academy of Economic Studies, Bucharest, Romania)

Abstract

Recent years have emphasized focus on risk management, and it became clear that there is an urgent need for a robust framework to effectively manage risk. The financial and economic crisis showed the importance of a strong risk management process and forced banks to take a critical look at how they manage risks. Romanian banking system has known significant changes determined by the implementation of Basel II requirements. These requirements determined an important effort of the banks to improve their risk management process. Operational risk is considered a significant risk and has an important impact on banks activity and results. Now, there is a clear effort of the banks for applying more advanced methods on opera-tional risk so that their control and management to be improved. The present paper presents the specificity of the operational risk management and the author’s solution for the operational risk man-agement in banks."

Suggested Citation

  • Victoria Stanciu, 2010. "Managing Operational Risk In Banks," Analele Stiintifice ale Universitatii "Alexandru Ioan Cuza" din Iasi - Stiinte Economice (1954-2015), Alexandru Ioan Cuza University, Faculty of Economics and Business Administration, vol. 57, pages 245-260, november.
    • Handle: RePEc:aic:journl:y:2010:v:57:p:245-260
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    File URL: http://anale.feaa.uaic.ro/anale/resurse/fin13stanciu.pdf
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    More about this item

    Keywords

    risk management process; operational risk; risk assessment; internal control system.;
    All these keywords.

    JEL classification:

    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
    • G38 - Financial Economics - - Corporate Finance and Governance - - - Government Policy and Regulation

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