No Excuses: A Business Process Approach to Managing Operational Risk

Why should a company have an operational risk management function and how should it be organized? No Excuses proposes that operational risk should be examined through the business processes, that is, the flows of business. It provides practical, how–to, step–by–step lessons and checklists to help identify and mitigate operational risks in an organization. As well, it shows how operational risk can be directly linked to the process flows of a business for all industries. CEOs, CFOs, COOs, CROs, CIOs, and CAOs will benefit from this innovative book. From the Inside Flap

No Excuses

A Business Process Approach to Managing Operational Risk

Corporate culture has come a long way over the past several years. Risk is a word that is used more frequently and in more places in companies today than ever before; as well, the term "operational risk," perhaps not heard at all ten years ago, is overwhelmingly used in companies today.

The first book of its kind to recognize that integrating business process management with operational risk management can dramatically increase an organization′s optimal business performance, No Excuses is a practical how–to guide, presenting step–by–step lessons and checklists to help identify and mitigate operational risks in an organization. Written by Dennis Dickstein and Robert Flast—an operational risk manager and a business consultant—this timely book capitalizes on the authors′ expertise in these areas, and offers authoritative guidance on:

How operational risk affects the bottom line, shareholder value, reputation, and even survival

The importance of having an inventory of key business processes with documented controls and designated senior managers responsible

The importance of having a technology inventory with procedures and controls over application integrity, access, and data

How to organize an operational risk management group in a business

The relationship an operational risk management group should have with corporate management and other control areas, such as compliance, finance, and internal audit
This definitive guide to operational risk presents the concepts, the framework, and the tools—none requiring substantial investment—to help organizations successfully manage and mitigate operational risk within their businesses and reveals how best to embed these tools and techniques as a long–term solution. Packed with guidance on applying this framework to technology, outsourcing, offshoring, risk organization design, and governance, No Excuses: A Business Process Approach to Managing Operational Risk makes it clear that operational risk is a real–world matter for every business—NO EXCUSES. Summary: Practical and Appealing