Title: Unraveling the Complexity of Writing a Literature Review on Value At Risk

Embarking on the journey of writing a literature review on Value At Risk (VaR) can be likened to
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regulatory frameworks. As a result, researchers are tasked with continually updating their literature
review to reflect the most current state of knowledge, adding another layer of complexity to the
process.

Additionally, synthesizing disparate sources, theories, and methodologies into a cohesive narrative
presents its own set of challenges. Researchers must not only identify common themes, trends, and
gaps in the literature but also offer insightful interpretations and critiques that contribute to the
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In conclusion, while writing a literature review on Value At Risk may pose formidable challenges, it
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Editors select a small number of articles recently published in the journal that they believe will be
particularly. Risk assessments, risk analyses, and risk management are areas of interest in finance and
insurance. In order to be human-readable, please install an RSS reader. The number of search result
per database after applying three phases of the selection process. We used financial institution as the
equivalent keyword of bank. ACL: Access Control List, DAC: Discretionary Access Control, IoT:
Internet of Things, MAC: Mandatory Access Control, and RBAC: Role-Based Access Control.
Note that from the first issue of 2016, this journal uses article numbers instead of page numbers.
Internal loss data, in general, lack reliability ( Moosa 2007 ) while external public and pooled loss
data are restricted only to huge losses ( Chapelle et al. 2008 ) and accessible only to subscribers of
specialized databases ( Power 2005 ). These multiple stakeholders create spillover effects that cause
uncertainty in banking ORM. Basel: Bank for International Settlements, Available online: (accessed
on 13 May 2022). For MAC, the level of sensitivity of objects is used to categorize objects into
several sensitivity levels—for example, sensitive, not sensitive, confidential, etc. Its qualitative and
quantitative models can capture the dynamic complexity of the ORM system from feedback,
multiple interconnections, nonlinearities, time delays, and accumulations ( Sterman 2000 ). As
discussed, providing a dataset that describe risk likelihood and its impact on a specific context is
one of the key issues of implementing risk-based access control models. Ricciardi, V. (2006). A
research starting point for the new scholar: A. Subjectivity in assigning a weight for each contextual
feature. This landscape informs the reader that the author has indeed assimilated all (or the vast
majority of) previous, significant works in the field into her or his research. There are several
challenges associated with the risk estimation process. Therefore, research publications in the A
category have received the highest number of publications. Out of these cookies, the cookies that are
categorized as necessary are stored on your browser as they are essential for the working of basic
functionalities of the website. We call for an interdisciplinary research team of ORM academia, SD
modelers, and risk and policy experts to contribute to the extended use of SD to understand and
manage the problem of operational risk in the banking sector. Furthermore, we encourage the
researchers to involve risk managers and other key stakeholders, such as business unit managers and
internal auditors, in constructing a model of risk drivers and their interactions. Ranji, MD Calvin
Chou, MD, PhD SDRME Summer Meeting 2012. These disruptive events have compelled
practitioners to explore the vulnerabilities in supply chains and evaluate risks. There are different
types of risk identified by various academicians and practitioners from the field of SCM. Are all the
key ideas, findings and trends presented backed up by multiple sources. Then, the access control
manager compares the subject’s credentials against access policies to decide whether granting or
denying access. The main purpose of the access control is to decline unauthorized users and reduce
the tasks of authorized users on a certain device. The new Standardized Approach (SA), which will
be effective on 1 January 2023, uses only internal data sources for operational risk capital calculation
( BCBS 2017 ). We also obtained an understanding of the banking ORM system’s characteristics and
subsequently used them in developing the relevant search term. Besides staff, ORM involves
multiple stakeholders, including central banks, regulators, shareholders, rival banks, and the media.
In addition, the paper discussed the issues in the proposed risk-aware model and its implementation
procedures. Each part of the whole system is interrelated and influences the other through feedback
loops that cause the complexity of the whole system ( Flood 2010 ). Be sure that you start with your
General Field first before referring to your dissertation study. It also presents how we developed
relevant search terms from the literature review articles and used them in search of a potential
method for future studies. 3.1. Step 1—Review of Literature Review Articles on Operational Risk
Management in the Banking Industry We started the literature review with the identification of
existing literature review papers related to ORM in the banking industry. We started by reviewing
literature review articles in banking ORM studies to obtain an understanding of ORM characteristics,
including its major problems. We then identified and developed keywords relevant to the ORM
system from the review and analysis of articles. From the review articles, we obtained these
important keywords pertaining to ORM characteristics that are “complex”, “nonlinear”, “uncertain”,
and “system”. Instead of static policies, dynamic access methods use dynamic and real-time features
to provide access decisions. Our study contributes to the SD modeling literature by pointing to
shortcomings in the practice of SD modeling in the field of banking ORM. In addition, several
access scenarios were presented to show the effectiveness of their proposed risk estimation approach.
The search that was executed in six different well-known online databases enables us to collect, as
much as possible, most of the publications that are relevant to risk-based access control models. The
authors have used various forms of literature review analysis, and each paper is unique in itself,
which leaves the gap for further literature research in the field of SCRM. 2.2. Risk Disruption
Disruptions in supply chains are evolving to be more comprehensive and recurrent in the business
environment ( Narasimhan and Talluri 2009 ). Appendix A illustrates a detailed classification of
journals listed in the ABDC category. Based on the selected search strategy, 44 articles (of 1044
articles) were chosen for a closer examination in terms of recent risk-based models, risk factors, and
risk estimation techniques. Stephen Durham Section Allergy and Clinical Immunology NHLI,
Imperial College London. Non-white investment experts reveal a higher level of. In addition, this
approach was adopted in several previous systematic literature reviews. In academia, bias and
shortage of operational loss data are widely recognized as serious problems in modeling operational
risk and conducting empirical studies ( Moosa 2007; Power 2005 ). A) Good to know about review
articles B) Elements of a review article C) Guidelines for preparing a review article in 18 steps. We
argued that homogeneity is the condition of SD but complaints from mis-selling products are,
indeed, distinct individuals. It can be used with the case study method to enable understanding,
trust, and data sharing between researchers and practitioners. Risk-based access control, trust-based
access control, and combination of risk with trust are common examples of dynamic access control.
Basel Committee on Banking Supervision. 2021a. Revisions to the Principles for the Sound
Management of Operational Risk. The two methods are prominent, namely, direct payment between
the parties, and through a third party such as a bank. A literature review creates a “landscape” for
the reader, giving her or him a full understanding of the developments in the field. The paper also
utilized semantics to build situation role hierarchies, which are used to assess the security risk to
provide access decisions. The selection process on the collected publications was divided into three
phases: Phase 1: The results of the search and collected publications were filtered depending on the
inclusion and exclusion criteria that were discussed in Section 4.2. The search conducted was not
bounded by a specific range of years to be able to collect all relevant publications regarding risk-
based access control models. ACL is a list of specific objects that involve lawful users together with
their access permissions. Different sensitivity levels have different risk values. Elo’s result 2023:
Return on investment increased to 6 per cent and cost effi. It is mandatory to procure user consent
prior to running these cookies on your website.
However, we observed that the model needs to be tested in order to uncover the flaws in the model.
They indicated that the fuzzy logic system is an efficient method for evaluating the security risks of
access control operations. The second subsection discusses risk disruption in SCM caused by natural
disasters or events which are beyond human control. Section 3 describes the test of our proposed
methodology in banking ORM studies and presents the results. The risk classified by various authors
can be elaborated to include the scale and risk occurrence ( Blackhurst et al. 2005; Norrman and
Jansson 2004; Sheffi and Rice 2005 ). The inclusion and exclusion criteria, which are based on the
review’s focus, goals, and coverage, are generally used by researchers to identify relevant articles.
The paper also proposed using a smart contract to track user behavior during access sessions to detect
and prevent malicious actions. Worrying is a lasting concern with a past or an upcoming event. It is
a. Our SLR reviewed only full text and peer review journal articles while we excluded non-English
articles and conference or white papers. The five ST approaches are (1) viable systems model, (2)
system dynamics, (3) strategic options development and analysis, (4) soft systems methodology, and
(5) critical systems heuristics ( Reynolds and Holwell 2010 ). Section 5 concludes the research
discussion on the risk and its impact on the supply chain network. 2. Literature Review and Research
Design The supply chain network consists of trade-offs interrelated by monetary, information, and
material flows ( Fugate et al. 2006 ). Many disruptions in supply chains have been seen since the year
2000. BIS Working Paper No. 840. Basel: Bank for International Settlements, Available online:
(accessed on 13 May 2022). Its qualitative and quantitative models can capture the dynamic
complexity of the ORM system from feedback, multiple interconnections, nonlinearities, time delays,
and accumulations ( Sterman 2000 ). The uncertain business environment results from cyclical
business behavior, fluctuation in demands, or a disaster ( Tang 2007 ). Grant Decision The access is
granted only if it matches one of the rules in the access policy. Basel Committee on Banking
Supervision. 2019. The Basel Framework. In addition, several access scenarios were presented to
show the effectiveness of their proposed risk estimation approach. In contrast, our proposed
methodology, which includes a systematic literature review after identifying keywords, is based on a
qualitative technique. RQ2: What are the risk factors used to build risk-based access control models.
Conducting a systematic literature review passed through five stages, as depicted in Figure 3. It
faces unpredictable challenges due to nations’ economic policies and globalization, which have
raised uncertainty and challenges for supply chain organizations. The risk estimation is the main
module, which gets access requests from users, analyzes them, collects the required information of
risk factors, and estimates the security risk value related to each access request. Williams et al. ( 2008
) Literature review The authors built theories by working on the different categories of literature in
SCM. The paper utilized the simulation to show the advantages of risk-based access control that
promote security and information sharing. The third stage is the main stage that discusses at length
which different databases will be searched to locate relevant articles. Scholars identify worry (or the
act of worrying) in various forms of. Deny Decision The access is denied only if it does not match
any rule in the access policy. Major gaps in the literature and general problems in ORM described in
the preceding paragraphs require a different methodology, in addition to the measurement models, to
investigate and propose how operational risk in banks can be effectively managed. All articles
published by MDPI are made immediately available worldwide under an open access license. No
special. Eling, Martin, and Werner Schnell. 2016. What do we know about cyber risk and cyber risk
insurance.
This number includes papers published in ABDC and non-ABDC journals ( Table 3 ). You need to
make sure that you are aware of the debates and counter arguments associated with your topic as
well. ISPRS International Journal of Geo-Information (IJGI). Collaboration of staff in managing
operational risk creates time delays and feedback loops. The authors used both Bayesian Network to
determine the frequency distribution and SD to estimate the severity distribution of loss from mis-
selling complaints. Vulnerabilities in a supply chain depend on the supply chain ( Caniato and Rice
2003; Chapman et al. 2002 ). Moreover, the COVID-19 pandemic has resulted in disruption to the
mechanics of most economies, irrespective of their size and phase of development. Ramanujam and
Goodman ( 2003 ) and Farhan and Alam ( 2019 ) used SD qualitative models in capturing dynamic
interactions between variables that affect the ORM systems of the studied banks. Section 5 is the
conclusion of the paper on contributions and limitations. 2. A Proposed Literature Review
Methodology The proposed methodology is based on three main steps. The main purpose of the risk
estimation process is to build a method to arrange risks based on their priorities and use risk values
to make access decisions following a specific context. Determining the suitable risk estimation
technique for building a risk-based access control models is not an easy task, as there are many
things that should be taken into consideration: for instance, the availability of data that describe the
risk likelihood and its impact. There is a need for collaborative strategies in SCM. We showed how
our proposed methodology facilitates the development of keywords for the potential method of
future ORM studies. The remainder of the section is divided into four subsections. The new
Standardized Approach (SA), which will be effective on 1 January 2023, uses only internal data
sources for operational risk capital calculation ( BCBS 2017 ). To support the objective of this
review, we focused only on studies that employed SD in banking ORM. Basel Committee on
Banking Supervision. 2021a. Revisions to the Principles for the Sound Management of Operational
Risk. In Extreme Events in Finance: A Handbook of Extreme Value Theory and Its Applications.
These disruptions include the fear of weapons of mass destruction, terrorist attacks, fuel protests,
and disease outbreaks ( Juttner 2005 ). Divestiture of resources, delay of entry, or contributing to
less ambiguous markets is prevention ( Miller 1992 ). Appendix A illustrates a detailed classification
of journals listed in the ABDC category. In practice, banks do not wait until the number of awaiting
complaints has materialized. Cohort studies. As you move up the pyramid the amount of available
literature decreases, but increases in relevance to the. Major issues stated in the literature fifteen years
ago are still in recently published articles. Williams et al. ( 2008 ) Literature review The authors built
theories by working on the different categories of literature in SCM. Subscribe to receive issue
release notifications and newsletters from MDPI journals. Such models neither effectively manage
operational risk nor resolve problems in this discipline. RQ3: What are risk estimation techniques
employed in risk-based access control models? 4.2. Inclusion and Exclusion Criteria Inclusion and
exclusion criteria for selecting the appropriate research were employed. This model was implemented
to first estimate the risk associated with the access request then compares the estimated risk with the
access control policy. A prototype using medical history records was utilized to illustrate the
efficiency of their suggested model. Editor’s Choice articles are based on recommendations by the
scientific editors of MDPI journals from around the world.
Number of journal and conference publications per year. A scientific paper. Title Abstract
Introduction Methods Results Discussions Conclusions Acknowledgement References. Title. Types
of system dynamics models used in banking operational risk management studies. First, the study
assumed that complaints from mis-selling products are homogeneous. The numerical approach is for a
large population, e.g., insurance. The occurrence of an event for many people at the same time
requires an economic approach. The new Standardized Approach (SA), which will be effective on 1
January 2023, uses only internal data sources for operational risk capital calculation ( BCBS 2017 ).
Ramanujam, Rangaraj, and Paul S. Goodman. 2003. Latent errors and adverse organizational
consequences: A conceptualization. The risk is the probability of differences in expected outcomes (
Spekman and Davis 2004 ). However, several risk factors can be applied in various contexts. Data
sources where publications were retrieved are also presented to show the digital libraries utilized to
collect these publications. What are the emerging issues within the behavioral finance risk. A
Proposed Methodology for Literature Review on Operational Risk Management in Banks. In
addition, Table 3 contains basic information about the analyzed and selected publications, which
involve a publication’s ID, publication citation, publication type, and year of publication. Gout,
Urate, and Crystal Deposition Disease (GUCDD). The paper also proposed a hierarchical risk
aggregation system for cloud federation. International Journal of Environmental Research and Public
Health (IJERPH). Table 5 illustrates the combination of the number of papers published in the
number of journals. Indistinguishable from Magic: How the Cybersecurity Market Reached a
Trillion. In order to be human-readable, please install an RSS reader. Positive affect: An individual's
tendency to accentuate the positive. In addition, according to Brailsford and Hilton ( 2001 ), SD is
appropriate when the state changes are continuous and not at discrete points of time. These
disruptive events have compelled practitioners to explore the vulnerabilities in supply chains and
evaluate risks. International Journal of Environmental Research and Public Health (IJERPH). In
practice, these thresholds cause bias in underreporting loss ( Aldasoro et al. 2022 ). External data is
also inherently biased due to the focus on immense losses ( BCBS 2011b ). Therefore, traditional
access control approaches provide a set of advantages, but they also have drawbacks. Editors select a
small number of articles recently published in the journal that they believe will be particularly. These
mechanisms are, for example, errors from strategic decision-making and fraud. The paper utilized
genetic algorithms to build the most suitable set of countermeasures for a specific situation. The
adopted methodology has several advantages in which it aims to describe the full process utilized to
reach the target of the study to make the reader fully aware of all the procedures conducted by the
researcher. In addition, the selection of relevant articles is discussed.
However, they also stressed quantitative assessments for a better understanding of SCRM. The
formation of suitable risk recovery models also needs planning and a combination of information
and human intervention. In addition, according to Brailsford and Hilton ( 2001 ), SD is appropriate
when the state changes are continuous and not at discrete points of time. A Proposed Methodology
for Literature Review on Operational Risk Management in Banks. Risks. 2022; 10(5):108. Table 2
presents the number of articles identified by using a combination of keywords. Editors select a small
number of articles recently published in the journal that they believe will be particularly. The second
step is to conduct a review of literature review articles to assess, identify, and form an understanding
of key findings that can help answer research questions. Given that you are presenting what the
literature says about a field of study, not what you think or believe, you must cite those authors that
actually make and provide the research evidence, theories, frameworks for practice etc. Divestiture
of resources, delay of entry, or contributing to less ambiguous markets is prevention ( Miller 1992 ).
Risk-Based Access Control Model: A Systematic Literature Review. Its goal is to “summarize large
quantities of bibliometric data and present the state of the intellectual structure and emerging trends
of a research topic or field” ( Donthu et al. 2021 ). For example, co-word analysis uses words as the
unit of analysis to draw the conceptual structure of a framework ( Aria and Cuccurullo 2017 ). The
five ST approaches are (1) viable systems model, (2) system dynamics, (3) strategic options
development and analysis, (4) soft systems methodology, and (5) critical systems heuristics (
Reynolds and Holwell 2010 ). These approaches are unable to provide a roadmap to improve
automation significantly. Prabhas Chongstitvatana Faculty of Engineering Chulalongkorn University.
Provide, in a brief and concise way, the context of the study. However, most existing access methods
are relying on static and rigid access policies and manual processes. Out of these articles, the
contributions of the selected articles were summarized. The main purpose of the access control is to
decline unauthorized users and reduce the tasks of authorized users on a certain device. Additionally,
current classical approaches have issues with resolving risks and threats in real time, especially when
handling a previously unidentified threat. Number of banking operational risk management studies
applying systems thinking approaches identified from a literature review. Therefore, standard
definitions are vital ( Diehl and Spinler 2013; Sodhi et al. 2012 ). Table 1 summarizes a few
definitions of risk and SCRM. Numerous research articles have suggested the need for such supply
chains due to the magnitude of the adverse effects of risk on its performance ( Chandra and Grabis
2007; Chopra and Sodhi 2014; Christopher and Lee 2004; Ritchie and Brindley 2007 ). Journal of
Experimental and Theoretical Analyses (JETA). But opting out of some of these cookies may have
an effect on your browsing experience. Risk-based access control model utilizes the security risk as a
criterion to make the access decision for each access request. Worrying is a lasting concern with a
past or an upcoming event. It is a. The search results are provided in Table 3. c.?Elimination of
articles based on the inclusion and exclusion criteria We initially screened titles and abstracts of the
articles, and excluded (1) redundant articles, (2) literature review, bibliography, and similar, (3)
annotation, book review, and similar, and (4) studies in the fields outside the banking industry. For
MAC, the level of sensitivity of objects is used to categorize objects into several sensitivity
levels—for example, sensitive, not sensitive, confidential, etc. Basel Committee on Banking
Supervision. 2017. Basel III: Finalising Post-Crisis Reforms. The numerical approach is for a large
population, e.g., insurance. The occurrence of an event for many people at the same time requires an
economic approach.