13. Democratisation of Enterprise Risk Management

  1. Ron S. Kenett PhD, BSc Chairman CEO Research Professor Professor Associate Director Editor in Chief President4,5 and
  2. Yossi Raanan PhD, BSc Senior Consultant Strategic Partner Senior Lecturer former dean head chairman director6,7
  1. Paolo Lombardi Head Post-Graduate Researcher1,
  2. Salvatore Piscuoglio BA member head2,
  3. Ron S. Ron S. Kenett Kenett PhD, BSc Chairman CEO Research Professor Professor Associate Director Editor in Chief President4,5,
  4. Yossi Raanan PhD, BSc Senior Consultant Strategic Partner Senior Lecturer former dean head chairman director6,7 and
  5. Markus Lankinen MSc (Economics) Managing Director management consultant member3

Published Online: 19 AUG 2010

DOI: 10.1002/9780470972571.ch13

Operational Risk Management

Operational Risk Management

How to Cite

Lombardi, P., Piscuoglio, S., Kenett Kenett, R. S. R. S., Raanan, Y. and Lankinen, M. (2010) Democratisation of Enterprise Risk Management, in Operational Risk Management (eds R. S. Kenett and Y. Raanan), John Wiley & Sons, Ltd, Chichester, UK. doi: 10.1002/9780470972571.ch13

Editor Information

  1. 4

    KPA Ltd, Raanana, Israel; University of Turin, Italy

  2. 5

    NYU-Poly, Center for Risk Engineering, New York, USA

  3. 6

    KPA Ltd, Raanana, Israel

  4. 7

    College of Management, Academic Studies, Rishon Lezion, Israel

Author Information

  1. 1

    University of California Santa Barbara, USA

  2. 2

    University of Siena, Italy

  3. 3

    St-Petersburg-based consultancy company, USA

  4. 4

    KPA Ltd, Raanana, Israel; University of Turin, Italy

  5. 5

    NYU-Poly, Center for Risk Engineering, New York, USA

  6. 6

    KPA Ltd, Raanana, Israel

  7. 7

    College of Management, Academic Studies, Rishon Lezion, Israel

Publication History

  1. Published Online: 19 AUG 2010
  2. Published Print: 22 OCT 2010

ISBN Information

Print ISBN: 9780470747483

Online ISBN: 9780470972571

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Keywords:

  • enterprise-wide risk management (ERM);
  • financial services and insurance (FSI);
  • operational risk management (OpR);
  • private branch exchanges (PBXs);
  • web-based risk management services

Summary

Semantic-based technologies are proving very useful in the field of risk Management. The operational risk management (OpR) methodologies are being taken to greater levels of complexity by the new needs of the financial services and insurance (FSI) industry in managing risk-adjusted performance of banks. OpR techniques developed in the financial services can then be transferred to non-financial organisations, owing to the ontologisation of the discipline. A case study, conducted by a leading telecommunications service provider that specialises in services for private branch exchanges (PBXs) is presented. The semantic-based tools and solutions that have been field tested indicate that Web-based risk management services can be effective in a substantial part of a value chain of risk knowledge services, opening up the democratisation of operational risk practices and, more in general, of enterprise-wide risk management (ERM).

Controlled Vocabulary Terms

management and planning tools; statistical measures