Tony Blunden is an Executive Director of Chase Cooper, a risk management solutions company. He has written numerous articles on operational risk issues for Operational Risk and Compliance and New Banking Frontiers, he is the co-author of Risk-Based Compliance (2001) (Butterworths) and has contributed to over 4 other books on this subject area. John Thirlwell has worked in financial services for over 30 years and for the last 15 years has been on the boards of a number of banks and insurance companies as both an executive and non-executive director. He was a Director of the British Bankers’ Association and is a Fellow of the Institute of Operational Risk. He has written regular columns on risk management and contributed to several books

Part 1: Setting the scene

1. What is operational risk?

2. The business case for operational risk management

Part 2: The framework

3. Governance

4. Operational risk appetite

5. Risk and control assessment ?

6. Events and losses

7. Indicators

Part 3: Advancing the framework

8. Reporting

9. Modelling

10. Stress tests and scenarios

11. Operational risk management and Six sigma

Part 4: Mitigation and assurance

12. Business continuity

13. Insurance

14. Internal audit – the third line of defence

Part 5: Practical operational risk management

15. Outsourcing risk

16. People risk

17. Reputation risk