Description
There is much excitement occurring in the field of risk management. New approaches and ideas are being developed round the identification, measurement and management of a wide range of business and financial risks. The reader is offered insight into the world and shape of risk, as well as practical and usable information about improving the risk management environment, in each case written from the perspective of an experienced practitioner. Key themes in risk are developed in a high level of detail and in a vivid way. For readers who have many choices about risk and risk management, this book should be the first. Foreword by Charles S. SmithsonTable of Contents: Prelude Foreword; C.Smithson Author’s Preface PART 1: PRINCIPLES Risk: A Shape to be Drawn Definitions: Categories and Choices Risk Managers: Map Makers Credit Risk: A Traditional Challenge Market Risk: A New Challenge Operational Risk: Everyman Governance: Taking Action PART 2: CHALLENGES Initial Steps: Thinking, Planning and Doing Separation of Duties: The Front, Middle and Back Office People: The Silent Risk Institutional Knowledge: The Knowledge Factory New Products: Managing Innovation Measurement: The Size of Risk PART 3: APPLICATIONS Data: Particles of Risk Indicators: Messages and Signals Technology: Multiple Dimensions PROCESSES Derivatives: Trading Safely Collateral: Order and Complexity Master Agreements: The Documentation Vortex PART 4: CONCLUSION Summing Up and Looking Ahead Acknowledgements and Personal Reflections Glossary References and Further Reading Epilogue Index
