Download or read book Strategic Risk Management written by Campbell R. Harvey and published by John Wiley & Sons. This book was released on 2021-05-04 with total page 262 pages. Available in PDF, EPUB and Kindle. Book excerpt: STRATEGIC RISK MANAGEMENT Having just experienced a global pandemic that sent equity markets into a tailspin in March 2020, risk management is a more relevant topic than ever. It remains, however, an often poorly understood afterthought. Many portfolios are designed without any thought given to risk management before they are handed off to a dedicated—but separate—risk management team. In Strategic Risk Management: Designing Portfolios and Managing Risk, Campbell R. Harvey, Sandy Rattray, and Otto Van Hemert deliver a reimagining of the risk management process. The book envisions a marriage between the investment and risk processes, an approach that has proven successful at the world’s largest publicly listed hedge fund, Man Group. The authors provide readers with a new framework for portfolio design that includes defensive strategies, drawdown risk controls, volatility targeting, and actively timing rebalancing trades. You will learn about how the book’s new approach to risk management fared during the recent market drawdown at the height of the COVID-19 pandemic. You will also discover why the traditional risk weighting approach only works on certain classes of assets. The book shows you how to accurately evaluate the costs of defensive strategies and which ones offer the best and most cost-effective protection against market downturns. Finally, you will learn how to obtain a more balanced return stream by targeting volatility rather than a constant notional exposure and gain a deeper understanding of concepts like portfolio rebalancing. Perfect for people working in the asset management industry and financial policy makers, Strategic Risk Management: Designing Portfolios and Managing Risk will also earn a place in the libraries of economics and finance scholars, as well as casual readers who take an active approach to investing in their savings or pension assets. PRAISE FOR STRATEGIC RISK MANAGEMENT “Strategic Risk Management shows how to fully embed risk management into the portfolio management process as an equal partner to alpha. This should clearly be best practice for all asset managers.” —Jase Auby, Chief Investment Officer, the Teacher Retirement System of Texas “This book shows the power of integrating risk and investment management, rather than applying risk management as an afterthought to satisfy set limits. I was pleased to shepherd some of the key ideas in this book through the publication process at The Journal of Portfolio Management.” —Frank J. Fabozzi, Editor, The Journal of Portfolio Management “Financial markets today are quite different from those of the last century. Understanding leverage, correlations, tails, and other risk parameters of a portfolio is at least as important as work on signals and alpha. In that sense, bringing risk management from ‘control’ to ‘front office’ should be a priority for asset managers. This book explains how to do it.” —Marko Kolanovic, Chief Global Market Strategist, J.P. Morgan A powerful new approach to risk management in volatile and uncertain markets While the COVID-19 pandemic threw the importance of effective risk management into sharp relief, many investment firms hang on to a traditional and outdated model of risk management. Using siloed and independent portfolio management and risk monitoring teams, these firms miss out on the opportunities presented by integrated risk management. Strategic Risk Management: Designing Portfolios and Managing Risk delivers a fresh approach to risk management in difficult market conditions. The accomplished author team advocates for the amalgamation of portfolio design and risk monitoring teams, incorporating risk management into every aspect of portfolio design. The book provides a roadmap for the crucial aspects of portfolio design, including defensive strategies, drawdown risk controls, volatility targeting, and actively timing rebalancing trades. You will discover how these techniques helped the authors achieve remarkable results during the market drawdown in the midst of the COVID-19 pandemic and how they can help you protect your assets against unpredictable—but inevitable—future bear markets. Ideal for professionals in the asset management industry, Strategic Risk Management: Designing Portfolios and Managing Risk is a valuable resource for financial policy makers, economics and finance scholars, and anyone with even a passing interest in taking an active role in investing for their future.
Download or read book Strategic Risk Taking written by Aswath Damodaran and published by Pearson Prentice Hall. This book was released on 2008 with total page 409 pages. Available in PDF, EPUB and Kindle. Book excerpt: Groundbreaking book that redefines risk in business as potentially powerful strategically to help increase profits. bull; Get out of your "defensive crouch ": learn which risks to avoid, which to mitigate, and which to actively exploit. bull; Master risk management techniques that can drive competitive advantage, increase firm value, and enhance growth and profitability. bull; By Dr. Aswath Damodaran, one of the field's top "gurus " - known worldwide for his classic guides to corporate finance and valuation.
Download or read book Strategic Risk Management written by David Iverson and published by John Wiley & Sons. This book was released on 2013-09-03 with total page 213 pages. Available in PDF, EPUB and Kindle. Book excerpt: A comprehensive guide to the key investment decisions all investors must make and how to manage the risk that entails Since all investors seek maximize returns balanced against acceptable risks, successful investment management is all about successful risk management. Strategic Risk Management uses that reality as a starting point, showing investors how to make risk management a process rather than just another tool in the investor's kit. The book highlights and explains primary investment risks and shows readers how to manage them across the key areas of any fund, including investment objectives, asset allocation, asset class strategy, and manager selection. With a strong focus on risk management at the time of asset allocation and at the time of implementation, the book offers important guidance for managers of benefit plans, endowments, defined contribution schemes, and family trusts. Offers a thorough examination of the role of risk management in the decision-making process for asset allocation, manager selection, and other duties of fund managers Written by the current head of portfolio design for the New Zealand Superannuation Fund Addresses the fundamental importance of risk management in today's post-crisis fund management landscape Strategic Risk Management is a comprehensive and easy-to-read guide that identifies the primary risks investors face and reveals how best to manage them.
Download or read book Strategic Risk Management written by Paul C. Godfrey and published by Berrett-Koehler Publishers. This book was released on 2020-01-21 with total page 336 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book presents a new approach to risk management that enables executives to think systematically and strategically about future risks and deal proactively with threats to their competitive advantages in an ever more volatile, uncertain, complex, and ambiguous world. Organizations typically manage risks through traditional tools such as insurance and risk mitigation; some employ enterprise risk management, which looks at risk holistically throughout the organization. But these tools tend to focus organizational attention on past actions and compliance. Executives need to tackle risk head-on as an integral part of their strategic planning process, not by looking in the rearview mirror. Strategic Risk Management (SRM) is a forward-looking approach that helps teams anticipate events or exposures that fundamentally threaten or enhance a firm's position. The authors, experts in both business strategy and risk management, define strategic risks and show how they differ from operational risks. They offer a road map that describes architectural elements of SRM (knowledge, principles, structures, and tools) to show how leaders can integrate them to effectively design and implement a future-facing SRM program. SRM gives organizations a competitive advantage over those stuck in outdated risk management practices. For the first time, it enables them to look squarely out the front windshield.
Download or read book Strategic Risk Leadership written by Torben Juul Andersen and published by Routledge. This book was released on 2020-02-24 with total page 128 pages. Available in PDF, EPUB and Kindle. Book excerpt: Modern risk management as practiced today faces significant obstacles—we argue—primarily due to the fundamental premise of the concept itself. It asserts that we are mainly dealing with measurable, quantifiable risks and that we can manage the uncontrollable by relying on formal control-based systems, which has produced a general view that (enterprise) risk management is a technical-scientific discipline. Strategic Risk Leadership offers a critique of the status quo, and encourages leaders, executives, and chief risk officers to find fresh approaches that can help them deal more proactively with what the future may hold. The book provides an overview of the history of risk management and current risk governance approaches as prescribed by leading risk management standards, such as COSO and ISO31000. This enables practitioners to challenge the frameworks and improve their adoption in practice introducing sustainable resilience as a (more) meaningful response to uncertain and unknowable conditions. The book shows how traditional thinking downplays the significance of human behavior and judgmental biases as key elements of major organizational exposures illustrated and explained through numerous case examples and studies. This book is essential reading for strategic risk managers to understand the requirements for effective risk governance practices in the contemporary and rapidly changing global risk landscape. Indeed, it is a valuable resource for all risk executives, leaders, and chief risk officers, as well as advanced students of risk management.
Download or read book Strategic Risk Management written by Torben Juul Andersen and published by Routledge. This book was released on 2019-07-23 with total page 110 pages. Available in PDF, EPUB and Kindle. Book excerpt: Organizations face challenges in adapting their current business and operational activities to dynamic contexts. Successful companies share a common characteristic of dealing with the emergent risks and threats in responses that generate viable solutions. Strategic risk management (SRM) is a multidisciplinary and rather fractured field of study, which creates significant challenges for research. This short-form book provides an expert overview of the topic, providing insight into the theory and practice. Essential reading for strategic management researchers, the authors frame the fundamental principles, emerging challenges and responses for the future, which will also provide valuable insights for adjacent business disciplines and beyond.
Download or read book Strategic Reputation Risk Management written by J. Larkin and published by Springer. This book was released on 2002-10-30 with total page 289 pages. Available in PDF, EPUB and Kindle. Book excerpt: Reputation is a commercially valuable asset. This book focuses upon how enhanced reputation can contribute to commercial asset management through increased share price premium and competitive performance, while reputation loss can significantly erode the ability of the business to successfully retain market share, maximise shareholder value, raise finance, manage debt and remain independent. It provides practical models and checklists designed to plan reputation management and risk communication strategies.
Download or read book Managing Risk and Uncertainty written by Richard Friberg and published by MIT Press. This book was released on 2015-11-13 with total page 395 pages. Available in PDF, EPUB and Kindle. Book excerpt: A comprehensive framework for assessing strategies for managing risk and uncertainty, integrating theory and practice and synthesizing insights from many fields. This book offers a framework for making decisions under risk and uncertainty. Synthesizing research from economics, finance, decision theory, management, and other fields, the book provides a set of tools and a way of thinking that determines the relative merits of different strategies. It takes as its premise that we make better decisions if we use the whole toolkit of economics and related fields to inform our decision making. The text explores the distinction between risk and uncertainty and covers standard models of decision making under risk as well as more recent work on decision making under uncertainty, with a particular focus on strategic interaction. It also examines the implications of incomplete markets for managing under uncertainty. It presents four core strategies: a benchmark strategy (proceeding as if risk and uncertainty were low), a financial hedging strategy (valuable if there is much risk), an operational hedging strategy (valuable for conditions of much uncertainty), and a flexible strategy (valuable if there is much risk and/or uncertainty). The book then examines various aspects of these strategies in greater depth, building on empirical work in several different fields. Topics include price-setting, real options and Monte Carlo techniques, organizational structure, and behavioral biases. Many chapters include exercises and appendixes with additional material. The book can be used in graduate or advanced undergraduate courses in risk management, as a guide for researchers, or as a reference for management practitioners.
Download or read book The Routledge Companion to Strategic Risk Management written by Torben Andersen and published by Routledge. This book was released on 2015-12-22 with total page 543 pages. Available in PDF, EPUB and Kindle. Book excerpt: Managing risk in and across organizations has always been of vital importance, both for individual firms and for the globalized economy more generally. With the global financial crisis, a dramatic lesson was learnt about what happens when risk is underestimated, misinterpreted, or even overlooked. Many possible solutions have been competing for international recognition, yet, there is little empirical evidence to support the purported effectiveness of these regulations and structured control approaches, which leaves the field wide open for further interpretation and conceptual development. This comprehensive book pulls together a team of experts from around the world in a range of key disciplines such as management, economics and accounting, to provide a comprehensive resource detailing everything that needs to be known in this emerging area. With no single text currently available, the book fills a much needed gap in our current understanding of strategic risk management, offering the potential to advance research efforts and enhance our approaches to effective risk management practices. Edited by a globally recognized expert on strategic risk management, this book will be an essential reference for students, researchers, and professionals with an interest in risk management, strategic management and finance.
Download or read book Strategic Risk Leadership written by Torben Juul Andersen and published by Routledge. This book was released on 2021-09-26 with total page 172 pages. Available in PDF, EPUB and Kindle. Book excerpt: This casebook extends Strategic Risk Leadership: Engaging a World of Risk, Uncertainty and the Unknown, bringing theory and practice grounded in the first book to life with an array of applicable, real-world examples. The book enables critical thinking about the current state of risk management and ERM, demonstrating contemporary shortcomings and challenges from real-life cases drawn from a global selection of well-known organizations. It confronts modern risk management practices and discusses what leaders should do to deal with unpredictable environments. Providing a basis for developing more effective risk management approaches, the book identifies shortcomings of contemporary approaches to risk management and specifies how to deal with the major risks we face today, illuminated by a variety of comprehensive global examples. It also provides valuable insights on these approaches for managers and leaders in general—including risk executives and chief risk officers—as well as advanced risk management students. End-of-chapter cases illustrate both good and bad risk management approaches as useful inspiration for reflective risk leaders. This book will be a hugely valuable resource for those studying or teaching risk management.
Download or read book Managing Strategic Surprise written by Paul Bracken and published by Cambridge University Press. This book was released on 2008-08-07 with total page 336 pages. Available in PDF, EPUB and Kindle. Book excerpt: The scope and applicability of risk management have expanded greatly over the past decade. Banks, corporations, and public agencies employ its new technologies both in their daily operations and long-term investments. It would be unimaginable today for a global bank to operate without such systems in place. Similarly, many areas of public management, from NASA to the Centers for Disease Control, have recast their programs using risk management strategies. It is particularly striking, therefore, that such thinking has failed to penetrate the field of national security policy. Venturing into uncharted waters, Managing Strategic Surprise brings together risk management experts and practitioners from different fields with internationally-recognized national security scholars to produce the first systematic inquiry into risk and its applications in national security. The contributors examine whether advance risk assessment and management techniques can be successfully applied to address contemporary national security challenges.
Download or read book Risk Management for Project Driven Organizations written by Andy Jordan and published by J. Ross Publishing. This book was released on 2013-05-13 with total page 361 pages. Available in PDF, EPUB and Kindle. Book excerpt: Organizations invest a lot of time, money, and energy into developing and utilizing risk management practices as part of their project management disciplines. Yet, when you move beyond the project to the program, portfolio, PMO and even organizational level, that same level of risk command and control rarely exists. With this in mind, well-known subject matter expert and author Andy Jordan starts where most leave off. He explores risk management in detail at the portfolio, program, and PMO levels. Using an engaging and easy-to-read writing style, Mr. Jordan takes readers from concepts to a process model, and then to the application of that customizable model in the user’s unique environment, helping dramatically improve their risk command and control at the organizational level. He also provides a detailed discussion of some of the challenges involved in this process. Risk Management for Project Driven Organizations is designed to aid strategic C-level decision makers and those involved in the project, program, portfolio, and PMO levels of an organization. J. Ross Publishing offers an add-on for a nominal fee -- Downloadable tools and templates for easy customization and implementation.
Download or read book Assessing and Managing Strategic Risks written by Richard J. Anderson and published by . This book was released on 2017-08-15 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Designed to provide internal auditors with the knowledge, skills, and tools for understanding strategic risks and strategic risk management.
Download or read book Strategic Risk Taking written by Aswath Damodaran and published by Ft Press. This book was released on 2008 with total page 388 pages. Available in PDF, EPUB and Kindle. Book excerpt: Groundbreaking book that redefines risk in business as potentially powerful strategically to help increase profits. Get out of your "defensive crouch": learn which risks to avoid, which to mitigate, and which to actively exploit.
Download or read book Managing Risk and Opportunity written by Torben Juul Andersen and published by Oxford University Press, USA. This book was released on 2014-03 with total page 204 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book looks at the critical demands imposed on directors and leaders when faced with corporate risks in turbulent global markets. It shows show why successful risk management outcomes require ethical governance principles and organizational structures that enhance effective risk-taking practices by all actors.
Download or read book Risky Strategy written by Jamie MacAlister and published by Bloomsbury Publishing. This book was released on 2016-08-25 with total page 225 pages. Available in PDF, EPUB and Kindle. Book excerpt: What is risk? Is it a real danger or just an opportunity in disguise? Can it be out-manoeuvred or is it something to be embraced and worked with? When companies are developing their business strategies, risk may be mentioned in passing (and even then, frequently misunderstood) but is rarely seen as a key component of the strategic decision-making process. This can lead to unforeseen complications – strategy is all about making decisions that concern an uncertain future and so risk should play a significant role in that process. The handling or understanding of risk is often delegated to specialists and much of what is written about risk is, due to its complexity, inaccessible to the majority of senior managers. Risky Strategy aims to make the consideration of risk more accessible and understandable and, in doing so, develop a common language and understanding for recognising and handling it. Based on research carried out by Ashridge Business School, as well as case studies of the strategic decision-making process in action, Jamie MacAlister takes the subject out of the textbooks and brings it engagingly to life. Drawing on lessons from Apple to Procter & Gamble, from Napoleon to Nelson, from Roger Federer to Sir Alex Ferguson, and from Pythagorus to Sir Isaac Newton, Risky Strategy provides a new and dynamic perspective on risk, demonstrating how and when to take the right risk, and knowing how to recognise the common risks that can derail even the most well-planned projects.
Download or read book Risk Management written by Paul Hopkin and published by Kogan Page Publishers. This book was released on 2013-05-03 with total page 288 pages. Available in PDF, EPUB and Kindle. Book excerpt: Risk management is not just a topic for risk professionals. Managers and directors at all levels must be equipped with an understanding of risk and the tools and processes required to assess and manage it successfully. Risk Management offers a practical and structured approach while avoiding jargon, theory and many of the complex issues that preoccupy risk management practitioners but have little relevance for non-specialists. Supported by online templates and with real-life examples throughout, this is a straightforward and engaging guide to the practice and the benefits of good risk management. Coverage includes: the nature of risk; the relevance of risk management to the business model; essential elements of the risk management process; different approaches to risk assessment; strategy, tactics, operations and compliance requirements; how to build a risk-aware culture; and the importance of risk governance. Online supporting resources for this book include downloadable templates including risk agenda, risk response and risk communication.