New operational risk assessment: the CASTL metod

Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F60162694%3AG43__%2F13%3A00499072" target="_blank" >RIV/60162694:G43__/13:00499072 - isvavai.cz</a>
Result on the web
<a href="http://vavtest.unob.cz/registr" target="_blank" >http://vavtest.unob.cz/registr</a>
DOI - Digital Object Identifier
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Result language
angličtina
Original language name
New operational risk assessment: the CASTL metod
Original language description
In the current market turbulence operational risk management is a basic function of every financial institution, including insurance companies. In a situation when principles based on prudent business activities and company solvency are malfunctioning and systematic risk is an ancreasing threat, a new system should be applied. This paper provides basic information on the new quantitative CASTL method, offering a practical classification and ranking of risks (risk scenarios). This dynamic model is not based on past risk and eliminates some deficiencies of existing methods such as the risk matrix assessment models. The method presents a novel view of risk assessment not based on existing models. The new CASTL model shows with examples of insurance operational risks one of the many ways in which companies could react and prepare for dealing with asymmetric threat in the future.
Czech name
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Czech description
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Type
J<sub>x</sub> - Unclassified - Peer-reviewed scientific article (Jimp, Jsc and Jost)
CEP classification
AE - Management, administration and clerical work
OECD FORD branch
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Project
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Continuities
I - Institucionalni podpora na dlouhodoby koncepcni rozvoj vyzkumne organizace

Publication year
2013
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

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