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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 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.


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Front Cover | Copyright | Table of Contents | Excerpt | Index
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Most Helpful Customer Reviews on Amazon.com (beta)

Amazon.com: 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 Amazon.com
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 Amazon.com
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 Amazon.com
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 Amazon.com
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 Amazon.com
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.


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