No Excuses: A Business Process Approach to Managing Operational Risk

No Excuses: A Business Process Approach to Managing Operational Risk Summary:

  

By Dennis I. Dickstein, Robert H. Flast

Publisher:   Wiley

Number Of Pages:   308

Publication Date:   2008-12-22

ISBN-10 / ASIN:   0470227532

ISBN-13 / EAN:   9780470227534

Product Description

Why should a company have an operational risk management function and how should it be organized? No Excuses proposes that operational risk should be examined through the business processes, that is, the flows of business. It provides practical, how–to, step–by–step lessons and checklists to help identify and mitigate operational risks in an organization. As well, it shows how operational risk can be directly linked to the process flows of a business for all industries. CEOs, CFOs, COOs, CROs, CIOs, and CAOs will benefit from this innovative book. 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. Summary: Practical and Appealing

Rating: 5

This book provides a practical set of ways to control risk, which anyone can use. It uses a thoughtful, step-by-step approach along with very appealing and sometimes amusing case studies at the beginning of each chapter. I have been working in non-profit organizations for many years and found the material to be very applicable and useful in this context. 

Summary: Managing Risk - common themes for business and personal use

Rating: 4

I highly recommend "No Excuses" to people who are interested in learning how to manage their risks, whether in business or even in their personal lives. Dickstein and Flast provide us with a new framework that is applicable to all types of situations.

Summary: Kudos to No Excuses

Rating: 4

No Excuses is very accessible for the Risk Management practioner. The authors very effectively merge the concepts of Operational Risk Management (Control, measuring, reporting, & correcting) with Business Process Management. This is a great primer for those new to both disciplines and a sound desk top reference for the Managers of Risk, Operations, Logistics, IT, or Outsourcing. The case studies prove that these concepts are applicable irrespective of the industry within which they are applied. Well done.

Summary: Risk management made simple

Rating: 5

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 

Summary: Every manager should read this book

Rating: 5

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.

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