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Guidance for Operational Risk Management in Government Debt Management / Tomas Magnusson.
World Bank Open Knowledge Repository (formerly "World Bank E-Library Publications") Available online
View online- Format:
- Book
- Government document
- Author/Creator:
- Magnusson, Tomas.
- Series:
- Debt Management Performance Assessment
- World Bank e-Library.
- Language:
- English
- Subjects (All):
- Banking Sector.
- Bankruptcy.
- Business Environment.
- Collateral.
- Conflict of Interest.
- Debt Management.
- Debt Markets.
- Developing Countries.
- Disasters.
- Finance and Financial Sector Development.
- Financial Crisis Management & Restructuring.
- Financial Institutions.
- Financial Sector.
- Fiscal Policy.
- Foreign Banks.
- Fraud.
- Governance.
- Human Resources.
- Insurance.
- Insurance & Risk Mitigation.
- Legal Framework.
- Monetary Policy.
- Outsourcing.
- Private Sector.
- Public Debt.
- Reputation.
- Risk Assessment.
- Risk Management.
- Sovereign Debt.
- Terrorism.
- Local Subjects:
- Banking Sector.
- Bankruptcy.
- Business Environment.
- Collateral.
- Conflict of Interest.
- Debt Management.
- Debt Markets.
- Developing Countries.
- Disasters.
- Finance and Financial Sector Development.
- Financial Crisis Management & Restructuring.
- Financial Institutions.
- Financial Sector.
- Fiscal Policy.
- Foreign Banks.
- Fraud.
- Governance.
- Human Resources.
- Insurance.
- Insurance & Risk Mitigation.
- Legal Framework.
- Monetary Policy.
- Outsourcing.
- Private Sector.
- Public Debt.
- Reputation.
- Risk Assessment.
- Risk Management.
- Sovereign Debt.
- Terrorism.
- Place of Publication:
- Washington, D.C. : The World Bank, 2010.
- System Details:
- data file
- Summary:
- Operational risk is defined as the risk of loss resulting from inadequate or failed internal processes, people and systems or from external events. In debt management operations, the categories of risks, such as market risk, credit risk, refinancing risk and liquidity risk, are relatively well known; however operational risk is not. The area has not been given due attention to by government debt managers in developing a risk management framework. A similar conclusion on aspects pertaining to operational risk management is borne out from the early results of the World Bank's assessments using its government Debt Management Performance Assessment (DeMPA) tool. This paper thus, introduces the concepts of operational risk as applied to government debt management (DeM) and attempts to present a framework for debt managers to manage operational risks while undertaking public debt management operations. It draws on existing literature for operational risk management principles and practices that have been formulated by the Bank for International Settlements (BIS) Basel Committee on Banking Supervision, the Committee of Sponsoring Organizations (COSO) and the findings of the DeMPAs.
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