Michael Grimwade

Michael Grimwade has worked in Operational Risk Management for over 20 years. He is Head of Operational Risk for ICBC Standard Bank, and has previously held senior Operational Risk roles at MUFG Securities, RBS and Lloyds TSB. Prior to this, Michael worked for a decade as a management consultant at PwC and Deloitte Consulting, and he has also been a Director of the Institute of Operational Risk. Michael has written a number of articles on setting appetite for Operational Risk; scenario analysis; emerging risks and modelling Operational Risk capital. His book “Managing Operational Risk: New Insights and Lessons Learnt” was published by RiskBooks in 2016. Michael received an award from the Institute of Operational Risk in 2014 for his contribution to the discipline of Operational Risk Management.

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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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