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Decision Evaluation for Damage Evaluation and Prevention Analysis in Bank Operational Risk Management
Stockholm University, Faculty of Social Sciences, Department of Computer and Systems Sciences.
2012 (English)In: IEEM2012: 2012 IEEE International Conference on Industrial Engineering and Engineering Management, IEEE Computer Society, 2012, 1209-1213 p.Conference 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 Computer Society, 2012. 1209-1213 p.
Keyword [en]
Damage evaluation, decision analysis, imprecision, operational risk, risk management
National Category
Information Systems
Research subject
Computer and Systems Sciences
URN: urn:nbn:se:su:diva-85407ISBN: 978-1-4673-2945-3OAI: diva2:583669
IEEE International Conference on Industrial Engineering and Engineering Management 2012, Hong Kong, China, 10 - 13 December 2012
Available from: 2013-01-08 Created: 2013-01-08 Last updated: 2016-02-03Bibliographically approved

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Larsson, Aron
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