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Operations Risk Management at a Major Bank

Author

Listed:
  • Kurt J. Engemann

    (Department of Management Science and Systems, Hagan School of Business, Iona College, New Rochelle, New York 10801)

  • Holmes E. Miller

    (Department of Business and Accounting, Muhlenberg College, Allentown, Pennsylvania 18104)

Abstract

Risk management decisions are among the most conceptually difficult ones faced by managers. Financial institutions depend upon their operations and may incur considerable losses if those operations are interrupted. We participated in the development and implementation of an operations risk management program in one of the nation's largest banks. We developed a methodology, based upon decision analysis, as a framework for making risk management decisions. The bank implemented an ongoing corporate-wide contingency-planning program for all operation's services, using the risk management methodology to analyze operational risks in a probabilistic environment. This program, implemented prior to regulatory mandates, remains an industry leader for over a decade.

Suggested Citation

  • Kurt J. Engemann & Holmes E. Miller, 1992. "Operations Risk Management at a Major Bank," Interfaces, INFORMS, vol. 22(6), pages 140-149, December.
    • Handle: RePEc:inm:orinte:v:22:y:1992:i:6:p:140-149
    DOI: 10.1287/inte.22.6.140
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    Cited by:

    1. Kleijnen, J.P.C., 1995. "Sensitivity analysis and related analysis : A survey of statistical techniques," Research Memorandum FEW 706, Tilburg University, School of Economics and Management.
    2. Donald L. Keefer & Craig W. Kirkwood & James L. Corner, 2004. "Perspective on Decision Analysis Applications, 1990–2001," Decision Analysis, INFORMS, vol. 1(1), pages 4-22, March.

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