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No Excuses: A Business Process Approach to Managing Operational Risk Hardcover – Dec 22 2008

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Product Description

From the Inside Flap

No Excuses: A Business Process Approach to Managing OperationalRisk

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

The first book of its kind to recognize that integratingbusiness process management with operational risk management candramatically increase an organization's optimal businessperformance, No Excuses is a practical how-to guide,presenting step-by-step lessons and checklists to help identify andmitigate operational risks in an organization. Written by DennisDickstein and Robert Flast—an operational risk manager and abusiness consultant—this timely book capitalizes on theauthors' expertise in these areas, and offers authoritativeguidance on:

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

  • The importance of having an inventory of key business processeswith documented controls and designated senior managersresponsible

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

  • How to organize an operational risk management group in abusiness

  • The relationship an operational risk management group shouldhave with corporate management and other control areas, such ascompliance, finance, and internal audit

This definitive guide to operational risk presents the concepts,the framework, and the tools—none requiring substantialinvestment—to help organizations successfully manage andmitigate operational risk within their businesses and reveals howbest 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 OperationalRisk makes it clear that operational risk is a real-worldmatter for every business—NO EXCUSES.

From the Back Cover

Praise for No Excuses: A Business Process Approach toManaging Operational Risk

"Just read the newspaper. Managing risk is more critical todaythan ever before. There is one risk you should take–buy thisbook!"
Marshall Goldsmith, New York Times and WallStreet Journal #1 bestselling author of What Got You HereWon'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 andprepares you for today's rapidly changing financial world."
Diane Frimmel, Chief Operations Officer, UBSFinancial Services

"Practical and compelling, Dickstein and Flast finally bringtogether important concepts that through their framework becomeactionable for every organization. This is a book grounded withexamples 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 ManagingOperational Risk recognizes operational risk management as atool to help leaders at all levels in all organizations toproactively manage risks.

Authoritative and proactive, this guidebook answers questionsincluding:

  • What can my organization do about the risk of loss resultingfrom inadequate processes, people, or systems?

  • To what extent should my organization link employee compensationor job performance with operational risk management?

  • How is operational risk taken into consideration when newproducts or technology solutions are designed or acquired,deployed, and executed?

  • Does my organization have an inventory of its key businessprocesses with documented controls and designated senior managersresponsible?

Practical and no-nonsense in approach, this guide is writtenwith a unique focus on integrating business process management withoperational risk management to equip your organization to realizethat there are no excuses when it comes to managing operationalrisk and business processes.

Inside This Book (Learn More)
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Front Cover | Copyright | Table of Contents | Excerpt | Index
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Most Helpful Customer Reviews on (beta) 14 reviews
4 of 4 people found the following review helpful
Every manager should read this book Feb. 24 2009
By Osvaldo Principe - Published on
Format: Hardcover
Books on Business Process management and Operational Risk are in plentiful supply, however they are often highly technical or tend to focus on the theory of BPM and Op Risk. This book is the first that I have read that gives the reader a clear understanding of what they will need to do to actively manage operational risk while designing, implementing and managing their business processes. This book is essential reading for any senior manager who seriously wants to reduce risk while improving operational efficiency and business innovation.
2 of 2 people found the following review helpful
A Solid Approach to Risk Management Jan. 4 2009
By Taught music - Published on
Format: Hardcover
I had the opportunity to review an early draft of the manuscript for this book and was excited to read the much expanded, published version. I highly recommend this book for executives seeking to bring a solid risk management methodology into their organizations or for program managers looking to create a risk aware culture in which to execute projects. "No Excuses" provides a well-referenced and timely approach to Risk Management. It begins with a number of headlines about catastrophic events at well-known companies and proceeds into a practical approach for how these events could have been prevented. If not for the aspect of integrating business process management and operational risk management, each chapter could well stand on its own. However, each chapter builds on the previous chapter to (1) establish the situation, (2) define business process and operational risk management frameworks and integrate the two, (3) provide a how-to-approach, and (4) describe the roles and responsibilities necessary to integrate business process management and operational risk management frameworks in your organization. It is definitely a must read book that you will want to keep in your library for handy reference.
1 of 1 people found the following review helpful
If Bernie's Investors Read this Book Jan. 1 2009
By Lee from Larchmont - Published on
Format: Hardcover
A most timely book that presents the practical and academic underpinnings of business risk and operational improvement in an understandable and enjoyable fashion. Real life examples used in very compelling chapter set ups.... Makes you think about all the failures that lead to the human tragedy caused by someone like Bernie Madoff.... There truly are NO Excuses.
1 of 1 people found the following review helpful
Risk management made simple June 2 2009
By Susan J. Hoekstra - Published on
Format: Hardcover
This book gives step-by-step instructions as to what every business manager should do to ensure that the disasters of our past are avoided. It explains risk management and offers a recommended structure through examples that are easy to understand. Good business and great common-sense at its best.

- Susan Hoekstra, The Service Journey
Much needed moisturizer for such a dry topic!! May 27 2010
By Amod A. Vaze - Published on
Format: Hardcover Verified Purchase
This book uses real-life examples of how operational risk management and business process management go hand-in-hand. The authors' usage of historical incidents like the Exxon Valdez, Barings PLC, MCI WorldCom, and Societe Generale allows the layman reader to easily understand the complex concepts addressed in this book. Although geared for the senior executive (which I am most certainly not!), I found the book covered a lot of ground and made compelling arguments in favor of a full integration of ORM and BPM framework. The book poses a series of questions in the first chapter, which were succinctly summed up by coming full circle and answering these same questions in the final chapter.