Global Risk Guard. Resources for Risk Professionals

Books

Books
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Value at Risk, 3rd Ed.: The New Benchmark for Managing Financial Risk

[ReviewAZON asin=”0071464956″]

Since its original publication, Value at Risk has become the industry standard in risk management. Now in its Third Edition, this international bestseller addresses the fundamental changes in the field that have occurred across the globe in recent years. Philippe Jorion provides the most current information needed to understand and implement VAR-as well as manage newer dimensions of financial risk. Featured updates include:

  • An increased emphasis on operational risk
  • Using VAR for integrated risk management and to measure economic capital
  • Applications of VAR to risk budgeting in investment management
  • Discussion of new risk-management techniques, including extreme value theory, principal components, and copulas
  • Extensive coverage of the recently finalized Basel II capital adequacy rules for commercial banks, integrated throughout the book

    A major new feature of the Third Edition is the addition of short questions and exercises at the end of each chapter, making it even easier to check progress. Detailed answers are posted on the companion web site www.pjorion.com/var/. The web site contains other materials, including additional questions that course instructors can assign to their students.

    Jorion leaves no stone unturned, addressing the building blocks of VAR from computing and backtesting models to forecasting risk and correlations. He outlines the use of VAR to measure and control risk for trading, for investment management, and for enterprise-wide risk management. He also points out key pitfalls to watch out for in risk-management systems.

    The value-at-risk approach continues to improve worldwide standards for managing numerous types of risk. Now more than ever, professionals can depend on Value at Risk for comprehensive, authoritative counsel on VAR, its application, and its results-and to keep ahead of the curve.

    [/ReviewAZON]

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    Operational Risk: Practical Approaches to Implementation

    [ReviewAZON asin=”1904339468″]Topical, innovative and highly practical, this authoritative new resource from Risk Books will help you successfully develop and enhance the operational risk function in your firm.

    Highly practical focus explains operational risk regulatory matters and specifically aids you with the practical implementation of an operational risk programme in your organisation.

    Provides easy access to the very latest thinking on Operational risk from the biggest names in the field including: Marco Moscadelli, Marcus Haas, Thomas Kaiser and Maurits Bakker.

    Collates the latest, most influential and ground-breaking work recently published in, among others, Operational Risk magazine.

    Makes it easy for first-timers to implement a regulatory compliance framework by providing an essential route-map that clearly shows you how to do this effectively and efficiently.

    Split into 4 easy access sections:

    1) Loss data collection and modelling – offers a range of novel, practical approaches to solve the notoriously complex challenges associated with the collection and modelling of internal and external loss data.
    2) Alternative measurement strategies – with detailed guidance on key risk indicators and scenario testing among other alternative tools, this section offers highly practical solutions informed by ‘real life’ situations.
    3) Conceptualising operational risk management – all about turning operational risk measurement into action – this section will help you conceptualise your op risk approach and outline an effective implementation strategy.
    4) Mitigation strategies – the ultimate goal of most operational risk strategies, here you will find a range of invaluable case-studies to provide a definitive assessment of the growing mitigation techniques available.[/ReviewAZON]

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    Operational Risk Modelling and Analysis: Theory and Practice

    [ReviewAZON asin=”1904339344″]The definitive journey into operational risk – this new multi-contributor title will guide you with the identification, modelling, implementation, analysis and integration of operational risk into your overall risk management framework.

    Enables you to make more informed decisions on how to identify and avoid the potential risks as well as fully understand the acceptable risks on a cost-benefit basis.

    Divided under three main sections: 1. Database Modelling, Regulatory and Technical Issues; 2. Risk Modelling and Measurement; 3. Case Studies of Implementation of Operational Risk Projects in Large Financial Institutions.

    Highlights integral issues such as how to spot the links between indicators of operational risk and the potential losses.

    Examines the tensions inherent in the nature of operational risk at both quantitative and qualitative levels.

    Outlines the practical day-to-day issues and illustrates workable methodologies with examples, case studies and cutting-edge analysis.

    Provides an even mix of both the progressive and in-depth research taking place in academic institutions as well as the actual practical implementation issues.

    Provides the tools to cope with differing and complex situations within operational risk.

    Edited by Marcelo Cruz, a world-renowned leading expert on operational risk modelling and measurement.[/ReviewAZON]

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    Managing Risk in Organizations: A Guide for Managers (The Jossey-Bass Business & Management Series)

    [ReviewAZON asin=”0787965189″]Managing Risk in Organizations offers a proven framework for handling risks across all types of organizations. In this comprehensive resource, David Frame— a leading expert in risk management— examines the risks routinely encountered in business, offers prescriptions to assess the effects of various risks, and shows how to develop effective strategies to cope with risks. In addition, the book is filled with practical tools and techniques used by professional risk practitioners that can be readily applied by project managers, financial managers, and any manager or consultant who deals with risk within an organization. Managing Risk in Organizations is filled with illustrative case studies and

    • Outlines the various types of riskpure, operational, project, technical, business, and political
    • Reveals what risk management can and cannot accomplish
    • Shows how to organize risk management efforts to conduct risk assessments, manage crises, and recover from disasters
    • Includes a systematic risk management processrisk management planning, risk identification, qualitative impact analysis, quantitative impact analysis, risk response planning, and monitoring control
    • Provides quantitative and qualitative tools to identify and handle risks

    This much-needed book will enable organizations to take risk seriously and act proactively.

    [/ReviewAZON]

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    Integrating Corporate Risk Management

    [ReviewAZON asin=”158799061X”]Integrating Corporate Risk Management, by Prakash Shimpi and several colleagues at the Swiss Reinsurance Company, is a decidedly forward-thinking and practical resource for any manager seeking innovative ways to boost shareholder return. Based on the increasingly harmonious relationship between corporate finance, risk management, and insurance, it shows how concepts from each discipline can be effectively combined for superior overall results. The first section explains why a solid risk-management strategy is critical to earnings growth and corporate reputation–“because it reduces a firm’s chances of experiencing financial distress and shields it against events that might thwart or distort its agenda”–and how a tightly coordinated effort can produce maximum payoff with minimal cost. The second section lays out specific products and procedures from both the insurance and capital markets (such as double-trigger options and credit derivatives) that, taken together, provide “a formidable addition to the conventional techniques currently employed.” The final part looks at future prospects and challenges in the U.S., Europe, and Asia, and ways that companies can prepare for this new environment. In all, the total presents a surprisingly accessible framework that could certainly help committed readers decrease their corporate risk and increase their bottom line. —Howard Rothman[/ReviewAZON]

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