Journal of Operational Risk
Scope & Guideline
Bridging Theory and Practice in Operational Risk
Introduction
Aims and Scopes
- Operational Risk Measurement and Management:
The journal delves into methodologies for quantifying operational risk, including the application of statistical models, machine learning, and extreme value theory to better understand potential loss scenarios. - Impact of Technology on Risk Management:
A significant focus on how technological advancements, such as fintech and information technology, influence operational risk management practices, including risk mitigation and auditing processes. - Regulatory Frameworks and Compliance:
Explores the implications of regulations on operational risk, including compliance strategies and the effects of regulatory changes in different banking environments. - Behavioral and Organizational Aspects of Risk:
Investigates how organizational culture, governance structures, and internal audit practices affect operational risk management and the overall risk landscape. - Sector-Specific Studies:
The journal features research on operational risk pertinent to specific sectors, particularly banking, with examinations of regional differences and unique challenges faced by institutions.
Trending and Emerging
- Integration of Machine Learning and AI in Risk Management:
There is a growing emphasis on the use of advanced analytics, including machine learning and AI, to enhance the categorization and prediction of operational risk events, marking a significant trend towards data-driven decision-making. - Impact of Cyber Risk on Operational Frameworks:
Research focusing on cyber risk, including definitions, classifications, and its integration into broader operational risk frameworks, has gained traction, underscoring the increasing importance of cybersecurity in risk management. - Post-Pandemic Risk Management Strategies:
The journal has seen an uptick in studies analyzing the shifts in operational risk management practices resulting from the Covid-19 pandemic, highlighting the need for resilience and adaptability in risk frameworks. - Cross-Sectoral Risk Analysis:
Emerging studies that examine operational risk across different sectors, including non-financial industries, are on the rise, indicating a broader application of operational risk principles beyond traditional banking. - Behavioral Insights in Risk Management:
There is an emerging focus on the behavioral aspects of risk management, including how organizational culture and board diversity influence risk-taking and governance structures.
Declining or Waning
- Traditional Risk Assessment Models:
There is a noticeable decrease in papers focusing on conventional risk assessment models, suggesting a shift towards more innovative and complex methodologies that incorporate modern data analytics and machine learning. - Generalized Economic Impact Studies:
Research that broadly examines economic impacts of operational risk without specific contextual focus is less prevalent, indicating a trend towards more targeted studies with actionable insights in specific sectors. - Descriptive Risk Analysis:
Studies that merely describe operational risk without offering prescriptive methodologies or solutions have become less common, reflecting a preference for research that provides concrete frameworks or tools for practitioners.
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