Operational risk assessmentThe Commercial Imperative of a More Forensic and Transparent ApproachBrendon Young and Rodney ColemanBrendon Young and Rodney Coleman's book is extremely timely. There has never been a greater need for the financial industry to reassess the way it looks at risk. [] They are right to draw attention to the current widespread practices of risk management, which [] have allowed risk to become underpriced across the entire industry.Rt Hon John McFall MP, Chairman,House of Commons Treasury CommitteeFailure of the financial services sector to properly understand risk was clearly demonstrated by the recent 'credit crunch'. In its 2008 Global Stability Report, the IMF sharply criticised banks and other financial institutions for the failure of risk management systems, resulting in excessive risk-taking. Financial sector supervision and regulation was also criticised for lagging behind shifts in business models and rapid innovation.This book

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