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Rating: 
Summary: Setting up the standards in the area
Review: Compulsory reading for those interested not just in operational risk but in risk management as a whole. The author turns difficult mathematical concepts into easy Excel examples solved on a step-by-step basis. Very insightful all along!
Rating: 
Summary: See if you can find all the mistakes
Review: I only got to page 100 so far, but there seems to be a bug on very other page. It's more like a test for the reader "see if you can find all the mistakes". I'm rather disappointed. If this book is aiming to become a "statistical bible" of the operational risk industry, the formulas, graphs, examples etc need revision.
Rating: 
Summary: Only for quants
Review: The book is for those with a Phd or strong math background - the writer does not attempt to cater to anyone else. Don't bother trying to understand the models discussed if you don't have this knowledge - get your Phd first! A waste of money unless you know mathematical concepts such as MLE, Fast Fourier etc.
Rating: 
Summary: Good, but too many bugs
Review: This book is probably the best single book available in Operational Risk at the moment. It give a very nice overview of the topic and on implementation possibilities.
Still, there are some letdowns:
1. The last parts on hedging and operational risk management are not very helpful while the part on operational VaR should be expanded.2. The book contains quite a number of errors. While this is not so important if this happens in written text, it definitely is within formulas (as in density of the normal distribution on page 50, and several others), especially since not everybody will see this kind of mistake at first sight. It should have been revised once more, maybe. Still, I recommend to anyone who wants to get an overview of operational risk. But read carefully.
Rating:
Summary: Finally, the "Riskmetrics" for Operational Risk!
Review: This is a much expected book in the operational risk area. I have got one as soon as it was released and I am getting more impressed with it every day as I try the models suggested by the author. The book is composed by a coherent sequence of mathematical models and techniques (all nicely explained with examples and extremely well-written)that at the end help you to measure and manage operational risk in practice. All the examples use real loss data and key risk indicators.
It is hard to identify the best part of the book. The chapters on causal models and stress tests are just a prime in the area as much as those on operational VaR. The text on stochastic models left me asking "why didn't I think of that before?". The chapters on the measurement of "soft risks" as those on reputational and key personnel risks are the first that I have seen on the subject and give an excellent insight on how to deal with this extremely difficult subject. This book should be on the shelf of any financial risk manager and it will set up the standards in the area for the next years. Operational risk finally find its "riskmetrics". As much as one day 'riskmetrics', 'creditmetrics' and CreditRisk+ were released by JP Morgan and CSFB setting up the grounds for the development of the both market and credit risk measurement, this book do the same for operational risk. At least everyone involved with operational risk should have it if not for anything just as a reference.
Rating:
Summary: The Bible for Operational Risk
Review: This is by far the best book in the area. It brings in details all the current technical discussions allowing even the reader with minimal math background to understand and even try the techniques stated in the book. Every risk manager must have it at least as a reference. The author carefully describes several techniques as:
1) Loss distribution approaches;
2) Scorecard approach;
3) Extreme value theory;
4) OpRisk management models;
5) Modeling and developing hedging programs. Excellent value for the money!
Rating:
Summary: Best book in the area by far. Superb ideas in oprisk mgt!
Review: This is the best book in operational risk by far. It shows, on a very clear way, how to implement complex algorithms that can be used in the measurement and management of oprisk. The most interesting part of the book is the one on oprisk management and oprisk stress tests and scenario analysis. Superb! Every risk manager should have it at least as a reference.
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