failures of operational IT systems, or what we call IT operational risk events, as signals of IT internal control weaknesses … diversified sample of IT operational risk events from the U.S. financial services industry during 1985-2009. We specifically test … strongest for firms experiencing IT operational risk events that occurred after the passing of the Sarbanes-Oxley Act or were …

risks it is subject to. In recent decades, many books and papers have focused on operational risk in financial services …. However, the literature has focused mainly on the conceptual and statistical aspects of operational risk management and not on … its operational aspects. Operational risk in financial services has not received much attention from the operations …

Excessive (substantially above peer) litigation against a bank is indicative of operational risk because it often … informed about operational risk, leading to mispricing of bank securities …

The 2004 Basel II accord requires internationally active banks to hold regulatory capital for operational risk, and the … Federal Reserve's Comprehensive Capital Analysis and Review (CCAR) requires banks to project operational risk losses under … stressed scenarios. As a result, banks subject to these rules have measured and managed operational risk more rigorously. But …

importance of complex financial institutions. To circumvent these problems, we use operational risk events as a risk management … the frequency and magnitude of operational risk events in U. S. bank holding companies have increased significantly with …

distribution is illustrated in an operational risk management context, where this class is used to model the operational loss …

Operational risk covers wide range of events that either produce no effect on financial result of the institution or … last decades of XX century. Basel II gave significant incentives in managing operational risk processes in banks all over … the world. New, Basel III regulation imposes improvement in operational risk management indirectly, through guidelines for …