University of Haifa - Statistics Seminar
Total Quality Management and Operational Risk in Financial Services
Mike Pinedo, New York University
January 1, 2009
In this talk we first discuss the history and the importance of quality control and
operational risk in finance. We go over the theoretical models and the practical
applications of Total Quality Management and the management of Operational Risk in finance.
We focus on the statistical techniques, VaR techniques, extreme value theory as well as
on the probabilistic models and their use in practice. We conclude with a discussion of the
implications of the reports by the Basel II committee.
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