REVIEW OF BEST INTERNATIONAL PRACTICE IN OPERATIONAL RISK MANAGEMENT (Przeglad miedzynarodowych standardów dobrych praktyk w obszarze zarzadzania ryzykiem operacyjnym)

• Authors: Thlon Michal
• Languages of publication: PL

Abstracts

EN

The aim of this paper is to analyze standards of good practice relating to operational risk management. Huge losses incurred by renowned companies (e.g. Barings Bank, Enron) as well as local authorities (e.g. Orange County) (Baldassare, 1998 )as a result of errors in operational risk management caused growing interest in this area of science. New strategies of operational risk management implemented in companies and institutions should function within the framework created by legal and corporate regulations valid in a given country. In this paper the author presents various definitions of corporate governance standards and proposes his own definition related directly to the issues discussed here. Then he presents basic systems of risk management consistent with discussed standards. In conclusion, Polish equivalents of normative regulations discussed here were presented, on the basis of which one could construct a system of operational risk management.

Keywords

EN

CORPORATE GOVERNANCE; OPERATIONAL RISK; RISK MANAGEMENT SYSTEMS

Discipline

• ECONOMICS: ECONOMICS

• Publisher: Wyższa Szkoła Informatyki i Zarządzania z siedzibą w Rzeszowie
• Journal: Finansowy Kwartalnik Internetowy e-Finanse
• Year: 2011
• Volume: 7
• Issue: 1
• Pages: 13-23
• Document type: ARTICLE

Contributors

author

Thlon Michal

• Dr Michal Thlon, Uniwersytet Ekonomiczny w Krakowie, ul. Rakowicka 27, 30-910 Kraków, Poland

Identifiers

CEJSH db identifier

11PLAAAA09317