South African Journal of Economic and Management Sciences
versión On-line ISSN 2222-3436
versión impresa ISSN 1015-8812
DE JONGH, Erika; DE JONGH, Dawie; DE JONGH, Riaan y VAN VUUREN, Gary. A review of operational risk in banks and its role in the financial crisis. S. Afr. j. econ. manag. sci. [online]. 2013, vol.16, n.4, pp.364-382. ISSN 2222-3436.
The role of operational risk in the 2007/2008 financial crisis is explored. The factors that gave rise to the crisis are examined and it is found that although the event is largely regarded as a credit crisis, operational risk factors played a significant role in fuelling its duration and severity. It is concluded that, from an operational risk perspective, 2008 was the worst on record. Considering the extensive role of operational risk in global financial calamities, suggestions are made to improve the management of this risk type.
Palabras clave : operational risk; banks; credit crisis.