Michael Grimwade

Michael Grimwade

Michael Grimwade first worked in Operational Risk Management over 25 years ago. He is Head of Operational Risk for ICBC Standard Bank and has previously held senior operational risk management roles at MUFG Securities, RBS and Lloyds TSB. Prior to this Michael was a management consultant with PwC and Deloitte Consulting. He has been a Director of the Institute of Operational Risk, and is currently the chair of the AFB’s Operational Risk Expert Panel. Michael is the author of a number of articles on setting appetite for operational risk, scenario analysis techniques, climate change, quantifying emerging risks and modelling operational risk capital. He received an award in 2014 from the Institute of Operational Risk for his contribution to the profession. His second book, Ten Laws of Operational Risk, was published in December 2021.

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Book contributions by Michael Grimwade

Articles by Michael Grimwade

Ten laws of operational risk

This paper sets out ten laws that govern the behavior of operational risk relating to the occurrence and detection/duration of events; the rapidity with which firms suffer losses; the lags in crystallization of losses; and internal and external drivers…

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