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.
From the Back Cover
Praise for No Excuses: A Business Process Approach to Managing Operational Risk
"Just read the newspaper. Managing risk is more critical today than ever before. There is one risk you should take–buy this book!"
—Marshall Goldsmith, New York Times and Wall Street Journal #1 bestselling author of What Got You Here Won't Get You There
"This is a must-read for every manager who wants to reduce risk. This how-to book is filled with sound and practical advice and prepares you for today's rapidly changing financial world."
—Diane Frimmel, Chief Operations Officer, UBS Financial Services
"Practical and compelling, Dickstein and Flast finally bring together important concepts that through their framework become actionable for every organization. This is a book grounded with examples that business leaders can use. Truly No Excuses!"
—Emily A. Ashworth, VP and CIO, American Water
Ready for Real-World Operational Risk Management?
No Excuses: A Business Process Approach to Managing Operational Risk recognizes operational risk management as a tool to help leaders at all levels in all organizations to proactively manage risks.
Authoritative and proactive, this guidebook answers questions including:
What can my organization do about the risk of loss resulting from inadequate processes, people, or systems?
To what extent should my organization link employee compensation or job performance with operational risk management?
How is operational risk taken into consideration when new products or technology solutions are designed or acquired, deployed, and executed?
Does my organization have an inventory of its key business processes with documented controls and designated senior managers responsible?
Practical and no-nonsense in approach, this guide is written with a unique focus on integrating business process management with operational risk management to equip your organization to realize that there are no excuses when it comes to managing operational risk and business processes.