{"product_id":"risk-isbn-9781576600740","title":"Risk","description":"Finance professionals grapple with risk every day—it's the inescapable partner of all financial market participants. As a result, high-stakes financial professionals are continually trying to streamline and perfect their risk management techniques. Financial risk management quantifies and controls risk (loss potential) and helps drive capital to its optimal use (profit seeking). This book is a much-needed guide for financial firms. It describes the latest risk management tools, financial instruments, and practical implementation strategies. And they're presented in a real-world, nonacademic manner. This book presents the latest information on  \u003cul\u003e \u003cli\u003eIdentifying risk: the spectrum of risks faced by market participants\u003c\/li\u003e \u003cli\u003eMeasuring and quantifying risk: ways to track and value market and credit risks\u003c\/li\u003e \u003cli\u003eManaging risk: a practical framework for financial risk management implementation\u003c\/li\u003e \u003c\/ul\u003e \u003cp\u003eAlso includes \"The Ten Commandments of Financial Risk Management,\" how and when to use the latest financial instruments and derivatives, and setting up a trackable risk management initiative.\u003c\/p\u003e  \u003ci\u003eIntroduction.\u003cbr\u003e \u003c\/i\u003eHow This Book Is Organized.\u003cbr\u003e Risk Management Transparency.\u003cbr\u003e The Spectrum of Risks Chart.\u003cbr\u003e \u003cb\u003e\u003cbr\u003e Section I THE RISKS AND THEIR CONTOURS.\u003c\/b\u003e  \u003cp\u003e1. Global Risk Management's Emergence.\u003cbr\u003e Technology and Communications.\u003cbr\u003e Quantitative Models.\u003cbr\u003e Dealers in Flux, Too.\u003cbr\u003e Major Messages in This Book.\u003cbr\u003e Wrap-Up.\u003cbr\u003e \u003c\/p\u003e \u003cp\u003e2. The Full Spectrum of Risks.\u003cbr\u003e Operational Risk.\u003cbr\u003e Other Nonfinancial Risks.\u003cbr\u003e Wrap-Up.\u003cbr\u003e \u003c\/p\u003e \u003cp\u003e3.The Contours of Financial Risk.\u003cbr\u003e Funding Risk: The Primal Arc.\u003cbr\u003e Markets and Risk.\u003cbr\u003e Basis Risk.\u003cbr\u003e Alternative Views an Insights.\u003cbr\u003e New Measurement Tools and Management Techniques.\u003cbr\u003e Credit Risk.\u003cbr\u003e The Contours of Credit Risk.\u003cbr\u003e Portfolio Risk.\u003cbr\u003e Our Journey\u003cbr\u003e Wrap-Up\u003cbr\u003e \u003c\/p\u003e \u003cp\u003e\u003cb\u003eSection II MARKET RISK MANAGEMENT.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e4. Market Risk: Tools and Uses.\u003cbr\u003e Hedge Example.\u003cbr\u003e Arbitrage.\u003cbr\u003e Speculation.\u003cbr\u003e Wrap-Up.\u003cbr\u003e \u003c\/p\u003e \u003cp\u003e5. Commodity Market Risk Management.\u003cbr\u003e Case Study: Big Auto Co.\u003cbr\u003e Case Study: Innovative Enron.\u003cbr\u003e Commodity Market Features.\u003cbr\u003e Wrap-Up.\u003cbr\u003e \u003c\/p\u003e \u003cp\u003e6. Currency Market Risk Management.\u003cbr\u003e Market Dynamics.\u003cbr\u003e Valuation and Risk Mechanics.\u003cbr\u003e Risk Illustrations.\u003cbr\u003e End Users.\u003cbr\u003e Intermediaries.\u003cbr\u003e Wrap-Up.\u003cbr\u003e \u003c\/p\u003e \u003cp\u003e7. Fixed-Income Market Risk Management.\u003cbr\u003e Market Dynamics.\u003cbr\u003e Time Matters.\u003cbr\u003e Valuation.\u003cbr\u003e Risk Mechanics.\u003cbr\u003e Risk Illustrations.\u003cbr\u003e Corporate Users.\u003cbr\u003e Dealers.\u003cbr\u003e The Investors.\u003cbr\u003e Wrap-Up.\u003cbr\u003e \u003c\/p\u003e \u003cp\u003e8. Equity Market Risk Management.\u003cbr\u003e Valuation and Risk Mechanics.\u003cbr\u003e Risk Illustration.\u003cbr\u003e Equity Derivatives.\u003cbr\u003e Dealers and End Users.\u003cbr\u003e Wrap-Up.\u003cbr\u003e Market Risk Summary.\u003cbr\u003e \u003c\/p\u003e \u003cp\u003e\u003cb\u003eSection III CREDIT RISK MANAGEMENT.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e9.The Schism in Credit Risk Management.\u003cbr\u003e Credit Risk Management Difficulties.\u003cbr\u003e Wrap-Up.\u003cbr\u003e \u003c\/p\u003e \u003cp\u003e10.Credit Risk Management for Trading.\u003cbr\u003e The Variable Exposure Problem.\u003cbr\u003e Pre-Settlement and Settlement Risk.\u003cbr\u003e Monte Carlo Simulation.\u003cbr\u003e Credit Risk versus Exposure.\u003cbr\u003e Credit Limit Problems.\u003cbr\u003e Charging for Credit.\u003cbr\u003e Systemic Concerns.\u003cbr\u003e Wrap-Up.\u003cbr\u003e \u003c\/p\u003e \u003cp\u003e11. Credit Risk Management for Traditional Lending.\u003cbr\u003e The Traditional Credit Process: Commercial Loans.\u003cbr\u003e Competition and Change to the Process.\u003cbr\u003e Summary of Changes to the Process.\u003cbr\u003e The Prior Models for Credit Risk.\u003cbr\u003e The New Models for Credit Risk.\u003cbr\u003e Case Study: Bank of Montreal.\u003cbr\u003e Credit Market Trends.\u003cbr\u003e Wrap-Up.\u003cbr\u003e \u003c\/p\u003e \u003cp\u003e\u003cb\u003eSection IV RISK IN PORTFOLIOS\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e12. Market Risk in Portfolios.\u003cbr\u003e Portfolio Risk Measures: Their Evolution.\u003cbr\u003e Forecasting for VaR.\u003cbr\u003e VaR Summary.\u003cbr\u003e Stress Testing.\u003cbr\u003e The Lessons of 1998.\u003cbr\u003e Wrap-Up.\u003cbr\u003e \u003c\/p\u003e \u003cp\u003e13. Simulation.\u003cbr\u003e Case Study: Global Oil Co.\u003cbr\u003e Wrap-Up.\u003cbr\u003e \u003c\/p\u003e \u003cp\u003e\u003cb\u003eSection V DEVELOPING A GLOBAL RISK MANAGEMENT PROCESS.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e14. Risk Management: The Vision and the Reality.\u003cbr\u003e The Vision for Risk Management: Go Global.\u003cbr\u003e The Reality at Global Financial Institutions.\u003cbr\u003e Wrap-Up.\u003cbr\u003e \u003c\/p\u003e \u003cp\u003e15. The Global Risk Management Development Model.\u003cbr\u003e Management Direction.\u003cbr\u003e Risk Management Development Projects.\u003cbr\u003e Integrating with the Operating.\u003cbr\u003e Infrastructure.\u003cbr\u003e Wrap-Up\u003cbr\u003e \u003c\/p\u003e \u003cp\u003e16.Developing GRM: What Works, What Doesn't.\u003cbr\u003e The Chase Example.\u003cbr\u003e Features of Success.\u003cbr\u003e Pitfalls to Avoid.\u003cbr\u003e Wrap-Up.\u003c\/p\u003e \u003cp\u003eConclusion.\u003cbr\u003e \u003cb\u003eThe Ten Commandments for Going Global with Risk.\u003cbr\u003e \u003c\/b\u003eAppendix: Financial Risk Definitions.\u003cbr\u003e Notes.\u003cbr\u003e Index.\u003c\/p\u003e \u003cp\u003e\u003cb\u003eJ\u003csmall\u003eAMES\u003c\/small\u003e T. G\u003csmall\u003eLEASON\u003c\/small\u003e,\u003c\/b\u003e currently with IBM Consulting, has been a risk management consultant for more than fifteen years at firms that include Coopers \u0026amp; Lybrand and Arthur Andersen \u0026amp; Co. He has worked as an independent consultant to help implement risk management solutions at Citicorp, First National Bank of Chicago, ING-Barings (Netherlands), Rabobank (Netherlands), and other large companies. A contributor to \u003ci\u003eRisk\u003c\/i\u003e magazine, he resides in Darien, Connecticut.\u003c\/p\u003e  \u003cp\u003eAdvances in technology and risk modeling have boosted derivative markets. The resulting increase in arbitrage activities has narrowed profit margins in all financial markets. Consistent risk methodology is now an essential tool for overcoming competitive pricing and for anticipating the consequences of market turbulence. \u003c\/p\u003e\u003cp\u003e It is now possible to calculate the potential impact of every major deal on the overall risk profile of the firm. Market risk and credit risk can be quantified and considered against the expected contribution to shareholder value or return on capital. These measurements create a theoretical framework for harmonizing activity at financial firms. \u003c\/p\u003e\u003cp\u003e In practice, however, today’s markets and technologies evolve so rapidly that the requirements and the capabilities shift before any reengineering cycle can be completed. A quagmire of data seriously confounds the task of extracting reliable information for risk management. The data problem becomes acute when you move to global risk management, because a flaw anywhere affects the whole process and is much harder to trace.\u003c\/p\u003e\u003cp\u003e Timely, accurate information about all positions is a prerequisite for effective management in this new global marketplace. You can’t run flexible “what if’ stress tests or determine global VaR (value at risk) accurately without a central transaction file. When the next contagion hits, the winners will be the ones who have correctly measured the stress on their whole portfolio and adjusted their holdings to achieve some immunization. \u003c\/p\u003e\u003cp\u003e This book shows you how to make your firm one of those winners.\u003c\/p\u003e   \u003cb\u003e\"Written in a clear, accessible style, \u003ci\u003eRisk: The New Management Imperative in Finance\u003c\/i\u003e should be compulsory reading for directors, senior management, and all who are responsible for risk management.\u003c\/b\u003e This book is an important addition to risk management literature.\"\u003cbr\u003e - \u003cb\u003eStuart M. Turnbull\u003cbr\u003e \u003c\/b\u003eVice President, Market Risk Management Division\u003cbr\u003e Canadian Imperial Bank of Commerce\u003cbr\u003e \u003cbr\u003e \". . . takes us through the fundamentals of global risk management, destroys the sacred cows, cuts through the fog of financial jargon, and exposes a landscape of leverage and derivatives where lightening-speed transactions have far outstripped the capacity of our regulatory institutions to understand--let alone regulate-- effectively.\"\u003cbr\u003e - \u003cb\u003ePeter C. Goldmark Jr.\u003cbr\u003e \u003c\/b\u003eChairman and CEO, International Herald Tribune\u003cbr\u003e \u003cbr\u003e \"The advice given in the section entitled 'Developing a Global Risk Management Process,' culminating in the ten commandments for going global with risk, \u003cb\u003eshould be mandatory reading for any manager\u003c\/b\u003e contemplating the development of such a system.\"\u003cbr\u003e - \u003cb\u003eDr. David Lawrence\u003cbr\u003e \u003c\/b\u003eHead of Risk Analytics, Citibank London\u003cbr\u003e \u003cbr\u003e \"Mr. Gleason writes with great clarity. He has the rare ability to discuss financial matters without resorting to trade jargon. This book is a must for all students of current financial risk and markets.\"\u003cbr\u003e - \u003cb\u003eBrian J. Ranson\u003cbr\u003e \u003c\/b\u003eSenior Vice President, Bank of Montreal","brand":"Bloomberg Press","offers":[{"title":"Default Title","offer_id":47989966700773,"sku":"NP9781576600740","price":68.5,"currency_code":"USD","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/1842\/7735\/files\/9781576600740.jpg?v=1761786059","url":"https:\/\/k12savings.com\/products\/risk-isbn-9781576600740","provider":"K12savings","version":"1.0","type":"link"}