Analysis of the Operational Risk Sources in Electric Utilities. Case Study: Venezuelan Electric Utilities

Abstract

The aim of this study is to review the state of the art and the opinion of experts of organizations to define if it is possible to adapt the guidelines issued for the banking sector by the Basel Committee on Banking Supervision of the Bank for International Settlements (BCBS-BIS) concerning the administration of the Operational Risks (OpR). After defining the adaptation of BCBS-BIS guidelines to companies different from those of the banking sector, a case study that empirically underpins the feasibility of implementing the BCBS-BIS guidelines is presented. For the selection of the case study a country is defined based on the opinion of the major risk rating agencies and for the selection of the company the criteria is based on the economic and social impact within the selected country. Finally, several OpR in the research unit have been obtained from secondary data sources in the industry, so the foundations have been established for the realization of future ad-hoc research within that organization. Likewise the feasibility of implementing and adapting the BCBS-BIS guidelines in any non-financial sector is also confirmed