Creating an Enterprise Risk Management (ERM) Model for identifying and evaluating the operational risks for a telecommunications company. A case study
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2021
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Universidad Rey Juan Carlos
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Operational risk is defined as the potential losses resulting from events caused by
inadequate or failed processes, people, equipment, and systems or from external events.
One of the most important challenges for the management of the company is to improve
its results through its operational risk identification and evaluation. Most Enterprise Risk
Management (ERM) scholarship has roots in the financial sector and there is a lack of
studies in other industries such as telecommunications. This research study proposes
an innovative operational risk identification and evaluation model, based on a case study
approach for a telecommunications company (TELCO), the main pillars of which are the
operational risk identification frameworks for events, risk factors and risk effects, as well
as the development of an operational risk assessment methodology, on the basis of an
operational risk self-assessment process and method. The operational risk selfassessment
process evaluates operational risks through a quantitative analysis of
estimates the inputs of which are the economic impact and the probability of occurrence
of events. The operational risk self-assessment method is the “engine” for calculating the
economic risk impact, applying actuarial techniques, which allow estimation of
unexpected and expected loss distributions in TELCO. The results of the analyzed
business units in the field work for the case study were compared with standardized
ratings (acceptable, manageable, critical, or catastrophic), and contrasted against the
company’s managers, proving that the operational risk identification and evaluation
model is a reliable and useful management tool for the business and its stakeholders,
and leading to more research in other sectors where operational risk management is key
for the company success.
Descripción
Tesis Doctoral leída en la Universidad Rey Juan Carlos de Madrid en 2021. Director de la Tesis: Francisco Javier Forcadell Martínez
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