JFRM  Vol.4 No.3 , September 2015
Proposal for an Implementation Methodology of Key Risk Indicators System: Case of Investment Management Process in Moroccan Asset Management Company
ABSTRACT
Operational risk is a prominent preoccupation of all managers these days. Indeed, the development of collective awareness has led executives to implement a wide variety of solutions in order to keep this risk and its consequences under control. In this context, we propose a practical implementation methodology of key risk indicators system with the aim to identify operational risks and above all to propose preventive and corrective measures capable of monitoring and managing operational risks. The proposed system will be adjusted to Investment Management process in a Moroccan Asset Management Company.

Cite this paper
Mouatassim, H., & Ibenrissoul, A. (2015) Proposal for an Implementation Methodology of Key Risk Indicators System: Case of Investment Management Process in Moroccan Asset Management Company. Journal of Financial Risk Management, 4, 187-205. doi: 10.4236/jfrm.2015.43015.
References
[1]   Basel II Compliance Professionals Association (BCPA) (2003). Basel II Accord.
http://www.basel-ii-accord.com/Basel_ii_644_to_682_Operational_Risk.htm

[2]   BCBS (1998). Operational Risk Management.

[3]   BCBS (1999). A New Capital Adequacy Framework. Consultative Paper.

[4]   BCBS (2001). Operational Risk, Consultative Document (CD).

[5]   BCBS (2001). Working Paper on the Regulatory Treatment of Operational Risk (WP).

[6]   BCBS (2003). Sound Practices for the Management and Supervision of Operational Risk.

[7]   BCBS (2011). Principles for the Sound Management of Operational Risk.

[8]   Bernard, F., Gayraud, R., & Rousseau, L. (2006). Contrôle interne: Concepts, Réglementation, Cartographie des risques, Guide d’audit de la fraude, Méthodologie et mise en place, Référentiels, modes opératoires. Paris: Maxima.

[9]   British Bankers Association, ISDA, RMA, & Price Waterhouse Coopers (1999). Chapter 4: Operational Risk the Next Frontier. Philadelphia, PA: RMA.

[10]   COSO (2010). Developing Key Risk Indicators to Strengthen Enterprise Risk Management: How Key Risk Indicators Can Sharpen Focus on Emerging Risks. Research Commissioned by the Committee of Sponsoring Organizations of the Treadway Commission.

[11]   Dahir portant loi n° 1-93-213 (1993). Relatif aux organismes de placement collectif en valeurs mobilières (Modifié par la loi 53-01).

[12]   Davies, J., Finlay, M., McLenaghen, T., & Wilson, D. (2006). Key Risk Indicators—Their Role in Operational Risk Management and Measurement. Sydney: Risk Business International Limited.

[13]   Deleuze, G., & Ipperti, P. (2013). L’analyse des risques: Concepts, Outils, Gestion, Maitrise. Paris: Ed. EMS.

[14]   Deutsche Bank (2005). Annual Review.

[15]   Directive 2009/138/EC of the European Parliament and of the Council (2009). On the Taking-Up and Pursuit of the Business of Insurance and Reinsurance (Solvency II). Section 3, Subsection 4, Article 11, 33 and Section 4, Subsection 1, Article 101, 4 f.

[16]   Financial Security Law of France (FSL) (2003). OJ No. 177.

[17]   Fraser, J., & Simkins, B. J. (2011). Enterprise Risk Management: Today’s Leading Research and Best Practices for Tomorrow Executives. Hoboken, NJ: John Wiley & Sons.
http://dx.doi.org/10.1002/9781118267080

[18]   IFACI, Price Waterhouse Coopers & Landwell (2005). Le management des risques de l’entreprise: Cadre de référence, Techniques d’application. COSO II Report, Paris: Ed. d’Organisation.

[19]   Immaneni, A., Mastro, C., & Haubenstock, M. (2004). A Structured Approach to Building Predictive Key Risk Indicators. RMA Journal, Special Edition.

[20]   IOR (2010). Sound Practice Guidance on Key Risk Indicators.

[21]   ISO/Guide 73 (2009). Risk Management Vocabulary.

[22]   Louisot, J. P., & Gaultier-Gaillard, S. (2007). Diagnostic des risques: Identifier, analyser et cartographier les vulnérabilités, Afnor.

[23]   Mitsubishi Tokyo Financial Group, Inc. (2005). FORM 20-F. As Filed with the Securities and Exchange Commission.

[24]   Moroccan Central Bank (2007). Prudential Regulation, Directive No. DN29/G/2007 Relative au dispositif de gestion des risques opérationnels.

[25]   Op Risk Advisory & Towers Perrin (2010). A New Approach for Managing Operational Risk: Addressing the Issues Underlying the 2008 Global Financial Crisis. Sponsored by Joint Risk Management, Section Society of Actuaries, Canadian Institute of Actuaries & Casualty Actuarial Society.

[26]   Optimind (2011). Dossiers techniques d’information Optimind: Risques opérationnels.

[27]   Sardi, A. (2002). Audit et contrôle interne bancaire (3th ed.). Paris: Editions Afges.

[28]   Scandizzo, S. (2005). Risk Mapping and Key Risk Indicators in Operational Risk Managements. Economic Notes, 34, 231-256.
http://dx.doi.org/10.1111/j.0391-5026.2005.00150.x

[29]   U.S. Congress (2002). Sarbanes-Oxley Act. (Pub.L. 107-204, 116 Stat. 745, enacted July 30, 2002)

 
 
Top