Tag archive for Expert Judgment

Combining probability distributions in operational risk management

Combining probability distributions in operational risk management

Abstract The major difficulties and challenges which financial institutions face are closely related to the estimation of their level of exposure to operational risk. In their efforts to estimate this level, they construct a probability distribution using expert judgment. In financial institutions however, no common…

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Improving Operational Risk Management

Improving Operational Risk Management

Author: Dr. J.H.M. van Grinsven; Price: € 55,- This book helps you to understand, implement and improve Operational Risk Management. Operational risk does not lend itself to traditional risk management approaches because almost all instances of operational risk losses result from complex and nonlinear interactions among risk and business…

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Collaboration methods and tools for Operational Risk Management

Collaboration methods and tools for Operational Risk Management

In this bookchapter collaboration methods and tools are discussed for supporting multiple expert judgment utilized in ORM. First, an overview of ORM will be provided by discussing the main phases of ORM. Second collaboration methods and tools are presented that can be used to support…

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Supporting operational risk management using a GSS

Supporting operational risk management using a GSS

While individual self-assessments are currently the leading practice, the trend is more towards group-facilitated self-assessments. There is a need to support these group-facilitated assessments using Group Support Systems. In this article we discuss how Group Support Systems (GSS) can be used to support expert judgment…

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