Banks / Dunn Practical Risk Management

An Executive Guide to Avoiding Surprises and Losses
1. Auflage 2003
ISBN: 978-0-470-86936-9
Verlag: John Wiley & Sons
Format: PDF
Kopierschutz: Adobe DRM (»Systemvoraussetzungen)

E-Book, Englisch, 176 Seiten, E-Book

Reihe: Wiley Finance Series

A proven way to manage risk in today's business world

Understanding how the risk process works is a critical concept thatbusiness professionals must come to learn. For those who mustunderstand the fundamentals of risk management quickly, withoutgetting caught up in jargon, theory, mathematics, and formulas,Practical Risk Management is the perfect read. Written in a clear,fast-paced and easily digestible style, this book explains thepractical challenges associated with risk management and how-byfocusing on accountability, governance, risk appetite, liquidity,client risks, automated and manual processes, tools anddiagnostics-they can be overcome. After finishing this book,readers will have a solid understanding of the risk process, knowwhich issues/questions are of critical importance, and be able todetermine how their specific risk problems can be minimized oravoided.

Erik Banks (Redding, CT) is currently Chief Risk Officer forElement Re. Prior to that he spent several years at Merrill Lynchin market/credit risk management roles in London, Tokyo, Hong Kong,and the United States. He is also adjunct Professor of Finance atthe University of Connecticut, where he teaches MBA students.Richard Dunn (London, UK) works for Merrill Lynch. Hesingle-handedly restructured Merrill Lynch's risk function post in1998 into its current form.

Autoren/Hrsg.

Banks, Erik

Dunn, Richard

Inhaltsverzeichnis

Acknowledgments.
Biographies.
Introduction: Financial Risks and Avalanches.
PART I: DEFINING AND MEASURING RISKS.
1. Losses: One-Hundred-Year Floods that Happen Every ThreeYears.
2. The Basics: A Common Understanding of the Risks.
3. Liquidity: The Heart of the Matter.
4. Suitability: Coping with Customers.
5. Process Risks: The Next Frontier.
6. Measurement: Quantifying the Risks.
PART II: DEVELOPING A HOLISTIC APPROACH TO RISK MANAGEMENT.
7. The Risk Management Process: Building the Foundation.
8. The Financial Risk Mandate: Developing a Philosophy and LossTolerance.
9. Risk Principles: Creating a Code of Conduct.
10. Financial Governance: Assigning Accountability for Risk.
11. The Risk Framework: Limiting and Controlling Risks.
12. Automated Management: Automating Discipline on the FrontLines.
13. Manual Management: Enhancing the Automated Discipline.
14. Nuts and Bolts: Supporting the Process with EssentialTools.
15. Ongoing Diagnostics and Transparency: Knowing if the RiskProcess is Working.
Conclusion: Can there be Heroes?
Glossary.
References.
Index.

Über Autor(innen)

ERIK BANKS has held senior risk management positions atseveral global financial institutions, including XL Capital, wherehe was Partner and Chief Risk Officer of the Bermuda reinsurer'sderivative subsidiary, and Merrill Lynch, where he spent 13 yearsmanaging credit and market risk teams in Tokyo, Hong Kong, Londonand New York. Mr. Banks, an Adjunct Professor of Finance at theUniversity of Connecticut, has written a dozen books on riskmanagement, emerging markets, derivatives, merchant banking, andelectronic finance.
RICHARD DUNN became the youngest member of Merill Lynch'sExecutive Committee in 1998. Concurrent with this appointment, hewas made Head of Market and Credit Risk and was instrumental in theWall Street "bail out" of hedge fund LTCM. Prior to this, Mr. Dunnwas Co-Head of Merrill's Equity Division, Head of European Debt,and Head of Asian Debt and Equity. His training was in debt andequity derivatives. Mr. Dunn holds a Masters in Economics from theLondon School of Economics, speaks Japanese, French and Italian,and is an avid snowboarder.