WILEY Ten Laws of Operational Risk: Understanding its Behaviours to Improve its Management

This is a must a have for any Operational Risk Manager professional, very enlightening!!

Just finished the book. As an intermediate risk management professional, I found this resource very refreshing. I would recommend it for anyone seeking a solid foundation in operational risk management or for any expert looking for a thoroughly analyzed and well explained perspective.Alexandre

The literature on operational risk usually considers that they arise randomly, according to distributions.While it is true that in the occurrence of any event, there is of course a random component, there are also factors that determine the occurrence and the consequences of the risk.Being myself a researcher on operational risk, I have been working for more than 10 years on the loss generation mechanisms of major operational risks.While my approach remains focused to the circumstances of a particular event, Michael proposes a broader and more macroscopic view of the causes, via macroeconomic factors in particular.This approach seems to me to be fundamental today insofar as recent events such as pandemics, war or climate change, all constitute macro drivers for operational risks.This book is therefore a must read for both practitioners and scholars in operational risk.

As a technology and cybersecurity professional, I'm always seeking ways to deepen my understanding of risk management within an enterprise.This book proved to be an invaluable resource in this pursuit. I have a signed copy of the book from Mr Grimwade himself.Despite the year-long journey it took to absorb its contents, every page was worth the investment.This book offers a thought-provoking exploration of operational risk, delving into its nuances with clarity and precision. Each law presented challenges conventional wisdom and prompts readers to reassess their approach to risk management.Michael’s insights are compelling, offering a fresh perspective that resonated deeply with my experiences in the Technology Risk and cybersecurity realm.What sets this book apart is its applicability. By explaining the interconnectedness of operational risk within broader enterprise contexts and with market events, it equips professionals like myself with the tools necessary to navigate complex risk landscapes effectively.You can easily apply these to emerging risks domains due to Technological developments such as Artificial Intelligence. I know that Michael has done some of that already post publication of this book.I highly recommend this book to anyone seeking to elevate their understanding of risk management. Whether you're a seasoned risk professional or just starting your journey, this book offers invaluable insights.Go buy your copy if you haven’t already! It’s a keeper!

Michael’s book is full of insights, in my point of view it shows in a very clear way how to detect and understand operational risk trends and behaviors and prepare the practitioners to develop the most efficient plan to manage such risk.These 10 Laws of Operational Risk are well defined for clear understanding and easy to relate with, along with them we find examples that make the journey of reading way more easy to grasp.Excellent book to have handy when in doubt, I highly recommend it