Operational Risk Management for Derivatives Using Wonhyo’s Elliptical Orbit Model: Consilience for Lean Six Sigma, Data Security, ISO,Accounting Standard and Internal Audit through Derivative Big Data

This book introduces and explains the algorithm of Wonhyo’s Elliptical Orbit Model which combines operational risk management methods to manage and to prevent an operational risk in derivative operation. The model explains that how Lean, Six Sigma, Data Management, IT data Security control, ISO regulations, Standard accounting process, Internal audit, Legal requirements and other combined operational risk management methods for derivative operational risk control are more effective and efficient than a single operational risk management approach.A formula and illustrations have been used to explain the model and it shows a broad application in other industries for instance, application for M&A, FTA, EU member criteria process, educational curriculum structures, labor union and management group, political parties, opposed nations and opposed religions to prevent a risk and a war in thi world.The Wonhyo’s Elliptical Orbit Model explains about Google’s new business expansion algorithm to take over a new business or a new company into their current business scope to cover a potential business scope and it enhances Google to be more prepare the future related business and will have a more accurate decision for the complex and interrelated business world than other groups of local or domestic search engine companies which generally have linked only with other related local customers and domestic partners. This is the key component methodology for operational risk management because the current operational risk comes from wide multi-angled directions.If we see the shared core value from the different risk managements, we can systematically unify as one operational risk management tool even though keep remain the unique each characteristic of the risk managements.The approach of consilience derivative operational risk managements can discover and remove an uncertainty from the interdependent global financial industry.