Operational Risk with Excel and VBA: Applied Statistical Methods for Risk Management (Wiley Finance)

Operational Risk with Excel and VBA is a practical guide that only discusses statistical methods that have been shown to work in an operational risk management context. It brings together a wide variety of statistical methods and models that have proven their worth, and contains a concise treatment of the topic. This book provides readers with clear explanations, relevant information, and comprehensive examples of statistical methods for operational risk management in the real world.

Nigel Da Costa Lewis (Stamford, CT) is president and CEO of StatMetrics, a quantitative research boutique. He received his PhD from Cambridge University.

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All Customer Reviews
Average Customer Review:
1 of 1 people found the following review helpful:

Humayun Ali, 2008-02-17
A valuable reference for understanding operational risk. Operational Risk with Excel and VBA is a practical guide that only discusses statistical methods that have been shown to work in an operational risk management context. It brings together a wide variety of statistical methods and models that have proven their worth, and contains a concise treatment of the topic. This book provides readers with clear explanations, relevant information, and comprehensive examples of statistical methods for operational risk management in the real world.


0 of 0 people found the following review helpful:

Not very good, 2007-02-13
This books try to give a simple review of the statistical technics for operational risk, but it is not so clear, not so well explained and not so complete. Sometimes I found mismatch in formulas with the current literature. Six pages for EVT is a poor way to introduce such an important field in OR modelling, and there is nothing about copula approach for modelling dependence in OR. Conversely, this book is good in explaining regression applied to OR management, and somebody can find the CD very interesting for data application.


1 of 1 people found the following review helpful:

It's about Excel statistical functions with examples using operational risk data, 2007-01-18
Remember in school when you had to solve math problems about how long it would take John to drive the 200 miles from New York to Washington if he drove at 50 miles an hour and took a one hour break for lunch? Or how long would it take John to meet Julie who was driving at 45 miles per hour from Washington to New York?

Now, would it make sense to call a book of these problems "Learning to Drive By Using Math"? That's the feeling I got when I closed Operational Risk With Excel and VBA. It's actually a good overview of many of Excel's statistical functions and it presents these in an operational risk context. However, it overemphasizes the technical and quantitative aspects of the field.

The Basel committee defines operational risk as "the risk of loss resulting from inadequate or failed internal processes, people, and systems or from external events". Of course the quantitative aspects are important, but operational risk is much more about analyzing processes and managing people and Lewis's book is weak on that aspect. To be fair the title is quite clear: the book is about applied statistical methods, not about people management.

Vincent Poirier, Tokyo


0 of 1 people found the following review helpful:

stasistics at glance, 2006-10-26
The book is a bad resume of statistics, full of mistakes. I've a long list of mistakes if required. You'll never learn operational risk with this one.

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