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Quantifying Event Risk: The Next Convergence

ROBERT CESKE (Managing director and head of operational risk management at NetRisk in Greenwich, Connecticut)
JOSÉ V. HERNÁNDEZ (Vice president of the methodology group at NetRisk)
LUIS M. SÁNCHEZ (Vice president of the advisory group at NetRisk)

Journal of Risk Finance

ISSN: 1526-5943

Article publication date: 1 February 2000

Abstract

Operational or event risk is not a new phenomenon for financial services companies. However, its measurement, as part of integrated risk management programs, has been the subject of recent focus. Property and casualty insurers have measured components of this risk class as part of the pricing and underwriting process. Although all financial services firms are exposed to direct and indirect (e.g., reputational) costs of operational risk events, few financial services firms actually measure “operational risk.” This article explores ways in which this may be done in practice.

Citation

CESKE, R., HERNÁNDEZ, J.V. and SÁNCHEZ, L.M. (2000), "Quantifying Event Risk: The Next Convergence", Journal of Risk Finance, Vol. 1 No. 3, pp. 9-22. https://doi.org/10.1108/eb043503

Publisher

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MCB UP Ltd

Copyright © 2000, MCB UP Limited