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Decision Evaluation for Damage Evaluation and Prevention Analysis in Bank Operational Risk Management
Mid Sweden University, Faculty of Science, Technology and Media, Department of Information Technology and Media. (ValIT)ORCID iD: 0000-0003-0310-0018
Mid Sweden University, Faculty of Science, Technology and Media, Department of Information Technology and Media.
2012 (English)In: Proceedings of the 2012 IEEE International Conference on Industrial Engineering and Engineering Management, IEEE conference proceedings, 2012, 1209-1213 p.Conference paper, Published paper (Refereed)
Abstract [en]

Operational risk is defined as risk concerning the company’s processes, people and systems including both external and internal events. SAFOR (Systemic Approach Framework for Operational Risk) is a novel, holistic, and module based framework approach for the management of operational risk aimed for banks. This framework involves a component for damage evaluation and prevention (the DEEP method) where the utilization of methods from the area of interval decision analysis is proposed as a candidate building block. The DEEP method is a semi-quantitative approach to risk management, including identification of risks, selection of mitigating options, and the follow-up of actions taken. In this paper we assess the DEEP method in the context of SAFOR. The DEEP method relaxes the requirement for knowledge on frequency of risk events and affirms that answers are logically achieved. At the same time, it makes the understanding of how preventive measures are selected a bit exclusive.

Place, publisher, year, edition, pages
IEEE conference proceedings, 2012. 1209-1213 p.
National Category
Computer and Information Science
Identifiers
URN: urn:nbn:se:miun:diva-17906OAI: oai:DiVA.org:miun-17906DiVA: diva2:578782
Conference
2012 IEEE International Conference on Industrial Engineering and Engineering Management
Available from: 2012-12-18 Created: 2012-12-18 Last updated: 2013-03-12Bibliographically approved

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