Download or read book The Risk Controllers written by Peter Norman and published by John Wiley & Sons. This book was released on 2011-09-07 with total page 403 pages. Available in PDF, EPUB and Kindle. Book excerpt: Clearing houses, or CCPs, were among the very few organisations to emerge from the global financial crisis with their standing enhanced. In the chaotic aftermath of the bankruptcy of Lehman Brothers, they successfully completed trades worth trillions of dollars in a multitude of financial instruments across listed and over-the-counter markets, and so helped avert financial Armageddon. That success transformed the business of clearing. Governments and regulators around the world gave CCPs and the clearing services they provide a front-line role in protecting the global economy from future excesses of finance. CCPs, which mitigate risk in financial markets, responded by greatly expanding their activities, notably in markets for over-the-counter derivatives, and often in fierce competition with one another. In The Risk Controllers, journalist and author Peter Norman describes how CCPs operate, how they handled the Lehman default, and the challenges they now face. Because central counterparty clearing is a complex business with a long history that continues to influence decisions and structures even in today’s fast changing world, The Risk Controllers explores the development of CCPs and clearing from the earliest times to the present. It draws on the experiences of the people who helped to shape the business of clearing today. It sets the development of CCPs and clearing in the broader context of changes in society, politics and regulation. The book examines turning points, such as the 1987 stock market crash, that set clearing on a new path and the impact of long running trends, including the exponential growth of computer power and the ebb and flow of globalisation. Written in non-technical language, The Risk Controllers provides a unique and accessible guide to CCPs and clearing. It is essential reading for clearing professionals, legislators and regulators whose job it is to take this vitally important business into the future. “The recent crisis has, thankfully, renewed interest in the importance of central counterparties: how they can help preserve stability or, as Hong Kong showed in 1987, undermine stability if they are not super sound. Peter Norman’s book places the role of clearing houses in a historical context, and explains why the financial system’s plumbing matters so much. It should be read by anyone interested in building safer capital markets.” Paul Tucker, Deputy Governor Financial Stability, Bank of England

Download or read book Trading Risk written by Kenneth L. Grant and published by John Wiley & Sons. This book was released on 2011-01-19 with total page 277 pages. Available in PDF, EPUB and Kindle. Book excerpt: Revolutionary techniques that traders can implement to improve profits and avoid losses No trader, professional or individual, can afford not to have a solid risk management program integrated into his or her trading system. But finding a precise mathematical model to replace subjective decision-making processes is a challenge. Traditionally, risk management has focused solely on loss avoidance, but in Trading Risk, hedge fund risk manager Kenneth Grant presents some-thing completely new—how to manage a portfolio to minimize risk and increase profits by putting more capital at risk. Trading Risk details a risk management program that can help both money managers and individual traders evaluate which elements in a portfolio are working efficiently and which aren’t. By illustrating an extremely simple set of statistical and arithmetic tools this book can help readers enhance their performance in many financial markets. Kenneth L.Grant is Cheyne’s Global Risk Manager, and is the Managing Member for Cheyne Capital, LLC, the firm’s U.S. arm. Mr. Grant is a pioneer in the field of hedge fund risk management and capital allocation. Before joining Cheyne, he created risk control programs at two of the world’s leading hedge funds, Tudor Investments and SAC Capital, where he was eventually promoted to the title of Chief Investment Strategist. Mr. Grant holds a Bachelor of Science in Economics and Mathematics from the University of Wisconsin, an MA in Economics from Columbia University, and an MBA from the University of Chicago Graduate School of Business.

Download or read book Intelligent Internal Control and Risk Management written by Matthew Leitch and published by CRC Press. This book was released on 2016-05-23 with total page 270 pages. Available in PDF, EPUB and Kindle. Book excerpt: Many people in organizations resent internal control and risk management; these two processes representing unwelcome tasks to be completed for the benefit of auditors and regulators. Over the last few years this perception has been heightened by the disastrous implementation of section 404 of the Sarbanes-Oxley Act of 2002, which is generally regarded as having been too expensive for the benefits it has brought. This important book offers a way of improving this prevailing perception and increasing the value of control and risk management by bringing creativity and design skills to the fore. The value of risk and control activities is often limited by the value of the control ideas available and so Matthew Leitch provides an arsenal of 60 high performance control mechanisms. These include several alternative ways to design controls and control systems, as well as providing controls for monitoring and audit, controls for accelerated learning, and techniques for finding and recovering cash. This design material is combined with insights into the psychology of risk control, strategies for encouraging helpful behaviour and enabling change, and a surprisingly simple integration of internal control with risk management. The book is realistic, practical, original, and easier reading than most in the field. The material is not specific to any one country and has international appeal for internal auditors and all those concerned with risk management, corporate governance and security.

Download or read book Operational Risk Management written by Jasmijn Bol and published by Business Expert Press. This book was released on 2021-05-15 with total page 204 pages. Available in PDF, EPUB and Kindle. Book excerpt: To remain viable, let alone competitive, organizations must manage risks. In this book, we explore the concept of operational risk as well as the mechanisms used to diminish the impact and occurrence of risks: the organizational control system. Since the scope and scale of operational risks are unique to each organization, our objective is to explain the theory behind why and how managers respond to the unique combination of threats that challenge their organization. We emphasize employee management and the complexities surrounding the design of management controls, incentive systems in particular, because risks related to employee actions are faced by virtually every organization. Overall, we provide empirically grounded insights into the process of diagnosing operational risks as well as designing, implementing and maintaining a control system that properly manages those risks.

Download or read book What on Earth Can Go Wrong written by Richard Fenning and published by Eye Books (US&CA). This book was released on 2021-02-01 with total page 199 pages. Available in PDF, EPUB and Kindle. Book excerpt: Richard Fenning has spent three decades advising multinational companies on volatile geopolitics and severe security crises. He was CEO of the British firm Control Risks for 14 years. His career coincided with the glory years of globalization, the rise of China, the tumult of the Middle East wars, a new vicious form of terrorism, the transforming impact of digital technology, and America's retreat from leadership. Offering him a rare insight into what happens when people and organizations come under enormous stress, it dispelled any illusions that the world is ordered, predictable, or fair. But amid the chaos and upheaval, he also found humanity and humor. In a whirlwind tour that takes us from the battlefields of Iraq to the back streets of Bogotà, from the steamy Niger delta to the chill of Putin's Moscow, he looks back with wit and insight on the people and places he has got to know, while also offering some timely thoughts about the relationship between risk and danger in a terrifyingly changeable world.

Download or read book Command and Control written by Eric Schlosser and published by Penguin. This book was released on 2013-09-17 with total page 656 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Oscar-shortlisted documentary Command and Control, directed by Robert Kenner, finds its origins in Eric Schlosser's book and continues to explore the little-known history of the management and safety concerns of America's nuclear aresenal. “Deeply reported, deeply frightening . . . a techno-thriller of the first order.” —Los Angeles Times “A devastatingly lucid and detailed new history of nuclear weapons in the U.S. . . . fascinating.” —Lev Grossman, TIME Magazine A myth-shattering exposé of America’s nuclear weapons Famed investigative journalist Eric Schlosser digs deep to uncover secrets about the management of America’s nuclear arsenal. A groundbreaking account of accidents, near misses, extraordinary heroism, and technological breakthroughs, Command and Control explores the dilemma that has existed since the dawn of the nuclear age: How do you deploy weapons of mass destruction without being destroyed by them? That question has never been resolved—and Schlosser reveals how the combination of human fallibility and technological complexity still poses a grave risk to mankind. While the harms of global warming increasingly dominate the news, the equally dangerous yet more immediate threat of nuclear weapons has been largely forgotten. Written with the vibrancy of a first-rate thriller, Command and Control interweaves the minute-by-minute story of an accident at a nuclear missile silo in rural Arkansas with a historical narrative that spans more than fifty years. It depicts the urgent effort by American scientists, policy makers, and military officers to ensure that nuclear weapons can’t be stolen, sabotaged, used without permission, or detonated inadvertently. Schlosser also looks at the Cold War from a new perspective, offering history from the ground up, telling the stories of bomber pilots, missile commanders, maintenance crews, and other ordinary servicemen who risked their lives to avert a nuclear holocaust. At the heart of the book lies the struggle, amid the rolling hills and small farms of Damascus, Arkansas, to prevent the explosion of a ballistic missile carrying the most powerful nuclear warhead ever built by the United States. Drawing on recently declassified documents and interviews with people who designed and routinely handled nuclear weapons, Command and Control takes readers into a terrifying but fascinating world that, until now, has been largely hidden from view. Through the details of a single accident, Schlosser illustrates how an unlikely event can become unavoidable, how small risks can have terrible consequences, and how the most brilliant minds in the nation can only provide us with an illusion of control. Audacious, gripping, and unforgettable, Command and Control is a tour de force of investigative journalism, an eye-opening look at the dangers of America’s nuclear age.

Download or read book Enterprise Risk Management written by David L Olson and published by World Scientific Publishing Company. This book was released on 2015-01-21 with total page 244 pages. Available in PDF, EPUB and Kindle. Book excerpt: Risk is inherent in business. Without risk, there would be no motivation to conduct business. But a key principle is that organizations should accept risks that they are competent enough to deal with, and “outsource” other risks to those who are more competent to deal with them (such as insurance companies). Enterprise Risk Management (2nd Edition) approaches enterprise risk management from the perspectives of accounting, supply chains, and disaster management, in addition to the core perspective of finance. While the first edition included the perspective of information systems, the second edition views this as part of supply chain management or else focused on technological specifics. It discusses analytical tools available to assess risk, such as balanced scorecards, risk matrices, multiple criteria analysis, simulation, data envelopment analysis, and financial risk measures.

Download or read book Operational Risk Management written by Philippa X. Girling and published by John Wiley & Sons. This book was released on 2013-10-14 with total page 354 pages. Available in PDF, EPUB and Kindle. Book excerpt: A best practices guide to all of the elements of an effective operational risk framework While many organizations know how important operational risks are, they still continue to struggle with the best ways to identify and manage them. Organizations of all sizes and in all industries need best practices for identifying and managing key operational risks, if they intend on exceling in today's dynamic environment. Operational Risk Management fills this need by providing both the new and experienced operational risk professional with all of the tools and best practices needed to implement a successful operational risk framework. It also provides real-life examples of successful methods and tools you can use while facing the cultural challenges that are prevalent in this field. Contains informative post-mortems on some of the most notorious operational risk events of our time Explores the future of operational risk in the current regulatory environment Written by a recognized global expert on operational risk An effective operational risk framework is essential for today's organizations. This book will put you in a better position to develop one and use it to identify, assess, control, and mitigate any potential risks of this nature.

Download or read book Financial Risk Management written by Steve L. Allen and published by John Wiley & Sons. This book was released on 2012-12-19 with total page 608 pages. Available in PDF, EPUB and Kindle. Book excerpt: A top risk management practitioner addresses the essentialaspects of modern financial risk management In the Second Edition of Financial Risk Management +Website, market risk expert Steve Allen offers an insider'sview of this discipline and covers the strategies, principles, andmeasurement techniques necessary to manage and measure financialrisk. Fully revised to reflect today's dynamic environment and thelessons to be learned from the 2008 global financial crisis, thisreliable resource provides a comprehensive overview of the entirefield of risk management. Allen explores real-world issues such as proper mark-to-marketvaluation of trading positions and determination of needed reservesagainst valuation uncertainty, the structuring of limits to controlrisk taking, and a review of mathematical models and how they cancontribute to risk control. Along the way, he shares valuablelessons that will help to develop an intuitive feel for market riskmeasurement and reporting. Presents key insights on how risks can be isolated, quantified,and managed from a top risk management practitioner Offers up-to-date examples of managing market and creditrisk Provides an overview and comparison of the various derivativeinstruments and their use in risk hedging Companion Website contains supplementary materials that allowyou to continue to learn in a hands-on fashion long after closingthe book Focusing on the management of those risks that can besuccessfully quantified, the Second Edition of FinancialRisk Management + Websiteis the definitive source for managingmarket and credit risk.

Download or read book Occupational Risk Control written by Derek Viner and published by Routledge. This book was released on 2016-03-03 with total page 304 pages. Available in PDF, EPUB and Kindle. Book excerpt: In Occupational Risk Control, Derek Viner brings together the theoretical aspects of his subject into a coherent whole and then connects them with the needs both of practitioners and educators. The theory embraced by the author spans ideas formed between the industrial revolution and the present day, but he focuses on relatively more recent theoretical developments chiefly associated with people-orientated approaches in the discipline of psychology applied to management practice and in the application of analytical ideas to engineering design. The author looks specifically at developments in defence and petro-chemical systems and also considers the whole theory of risk that originated in the 1970s with the advent of nuclear power stations, but which he argues has advanced little since that time. He also introduces the geological and botanical sciences, on the grounds that they contribute much to our understanding of how to set about classifying phenomena. To this mix, is added the contribution of law to our understanding of moral obligations and that of statistics to our understanding of the management of uncertainty. Viner argues that amongst the observable consequences of the absence of a holistic approach, is the tendency for regulators to form (misinformed) theory on which to base legislation and the prevalence of commercial systems leading to disparate efforts by different industries. The net effect of all this, he suggests, is seen in the disasters of the magnitude of the Gulf of Mexico explosion and oil spill.

Download or read book Controls Procedures and Risk written by David Loader and published by Butterworth-Heinemann. This book was released on 2002-10-29 with total page 216 pages. Available in PDF, EPUB and Kindle. Book excerpt: 'Controls, Procedures and Risk' covers the skills and procedures needed to enable the monitoring and managing of risk and the authors focus on procedures design, implementation and documentation. Considerable emphasis is also given to the key controls and the importance of control functions, audit and risk management groups and policy. Case studies are used to effectively demonstrate 'success' and 'failure'. In the financial services industry risk is a constant threat to organizations of all sizes and to the markets themselves. Many industry 'events' have shown how dangerous it is when a business operates in an uncontrolled way, particularly when the lack of control was not evident to the management of the business until it was too late. Controls, procedures and risk are occupying more and more management time. The responsibility to manage the risks lies with the whole operations team. If it is successful in fulfilling this role the overall risk of the business is reduced, if it is not successful the consequences may be severe. In this book the author has deliberately focussed on the practical side of risk, controls and procedures, rather than analyse the Basel Capital Accord and the capital requirements etc.(however, the Accord and updates are contained in the Appendices). Operations teams need to be aware of risk but not overwhelmed by it. Risk management within, and by, the operations function is the focus of this book. From day-to-day risk to wider risk implications the operations function is reviewed to show the sources and implications of risk situations. The definitive series of professional references for those finance professionals concerned with "Back office" or operations management unique to this industry.Presents concise references on the essential management functions such as technology, client services, and risk management for financial operations management professionals.A comprehensive resource from a leading financial management consultant for global banks and institutions.

Download or read book Tips for Hazard Identification Risk Assessment and Risk Control ebook written by Wai Onn Hong and published by WE ACT SERVICES SDN BHD. This book was released on 2015-11-07 with total page 58 pages. Available in PDF, EPUB and Kindle. Book excerpt: In In recent years, hazard identification, risk assessment and risk control has become important to the business operation as a basic of risk management. Organizations that have carried out risk assessment at their work place have noted improvement in their organization. This book is aim to provide guidance on key principles and issues to be taken into account when conducting an effective hazard identification, risk assessment and risk control. The methodology provided in this book is believed to be able to apply across the industry, either in the manufacturing sector, construction sectors or any other economic sectors.

Download or read book IT Security Risk Control Management written by Raymond Pompon and published by Apress. This book was released on 2016-09-14 with total page 328 pages. Available in PDF, EPUB and Kindle. Book excerpt: Follow step-by-step guidance to craft a successful security program. You will identify with the paradoxes of information security and discover handy tools that hook security controls into business processes. Information security is more than configuring firewalls, removing viruses, hacking machines, or setting passwords. Creating and promoting a successful security program requires skills in organizational consulting, diplomacy, change management, risk analysis, and out-of-the-box thinking. What You Will Learn: Build a security program that will fit neatly into an organization and change dynamically to suit both the needs of the organization and survive constantly changing threats Prepare for and pass such common audits as PCI-DSS, SSAE-16, and ISO 27001 Calibrate the scope, and customize security controls to fit into an organization’s culture Implement the most challenging processes, pointing out common pitfalls and distractions Frame security and risk issues to be clear and actionable so that decision makers, technical personnel, and users will listen and value your advice Who This Book Is For: IT professionals moving into the security field; new security managers, directors, project heads, and would-be CISOs; and security specialists from other disciplines moving into information security (e.g., former military security professionals, law enforcement professionals, and physical security professionals)

Download or read book Dead Reckoning written by Diane Vaughan and published by University of Chicago Press. This book was released on 2023-02-13 with total page 694 pages. Available in PDF, EPUB and Kindle. Book excerpt: Vaughan unveils the complicated and high-pressure world of air traffic controllers as they navigate technology and political and public climates, and shows how they keep the skies so safe. When two airplanes were flown into the World Trade Center towers on September 11, 2001, Americans watched in uncomprehending shock as first responders struggled to react to the situation on the ground. Congruently, another remarkable and heroic feat was taking place in the air: more than six hundred and fifty air traffic control facilities across the country coordinated their efforts to ground four thousand flights in just two hours—an achievement all the more impressive considering the unprecedented nature of the task. In Dead Reckoning, Diane Vaughan explores the complex work of air traffic controllers, work that is built upon a close relationship between human organizational systems and technology and is remarkably safe given the high level of risk. Vaughan observed the distinct skill sets of air traffic controllers and the ways their workplaces changed to adapt to technological developments and public and political pressures. She chronicles the ways these forces affected their jobs, from their relationships with one another and the layouts of their workspace to their understanding of their job and its place in society. The result is a nuanced and engaging look at an essential role that demands great coordination, collaboration, and focus—a role that technology will likely never be able to replace. Even as the book conveys warnings about complex systems and the liabilities of technological and organizational innovation, it shows the kinds of problem-solving solutions that evolved over time and the importance of people.

Download or read book Bow Ties in Risk Management written by CCPS (Center for Chemical Process Safety) and published by John Wiley & Sons. This book was released on 2018-10-09 with total page 224 pages. Available in PDF, EPUB and Kindle. Book excerpt: AN AUTHORITATIVE GUIDE THAT EXPLAINS THE EFFECTIVENESS AND IMPLEMENTATION OF BOW TIE ANALYSIS, A QUALITATIVE RISK ASSESSMENT AND BARRIER MANAGEMENT METHODOLOGY From a collaborative effort of the Center for Chemical Process Safety (CCPS) and the Energy Institute (EI) comes an invaluable book that puts the focus on a specific qualitative risk management methodology – bow tie barrier analysis. The book contains practical advice for conducting an effective bow tie analysis and offers guidance for creating bow tie diagrams for process safety and risk management. Bow Ties in Risk Management clearly shows how bow tie analysis and diagrams fit into an overall process safety and risk management framework. Implementing the methods outlined in this book will improve the quality of bow tie analysis and bow tie diagrams across an organization and the industry. This important guide: Explains the proven concept of bow tie barrier analysis for the preventing and mitigation of incident pathways, especially related to major accidents Shows how to avoid common pitfalls and is filled with real-world examples Explains the practical application of the bow tie method throughout an organization Reveals how to treat human and organizational factors in a sound and practical manner Includes additional material available online Although this book is written primarily for anyone involved with or responsible for managing process safety risks, this book is applicable to anyone using bow tie risk management practices in other safety and environmental or Enterprise Risk Management applications. It is designed for a wide audience, from beginners with little to no background in barrier management, to experienced professionals who may already be familiar with bow ties, their elements, the methodology, and their relation to risk management. The missions of both the CCPS and EI include developing and disseminating knowledge, skills, and good practices to protect people, property and the environment by bringing the best knowledge and practices to industry, academia, governments and the public around the world through collective wisdom, tools, training and expertise. The CCPS has been at the forefront of documenting and sharing important process safety risk assessment methodologies for more than 30 years. The EI's Technical Work Program addresses the depth and breadth of the energy sector, from fuels and fuels distribution to health and safety, sustainability and the environment. The EI program provides cost-effective, value-adding knowledge on key current and future international issues affecting those in the energy sector.

Download or read book Emerging Market Bank Lending and Credit Risk Control written by Leonard Onyiriuba and published by Academic Press. This book was released on 2015-08-03 with total page 738 pages. Available in PDF, EPUB and Kindle. Book excerpt: Using a framework of volatile markets Emerging Market Bank Lending and Credit Risk Control covers the theoretical and practical foundations of contemporary credit risk with implications for bank management. Drawing a direct connection between risk and its effects on credit analysis and decisions, the book discusses how credit risk should be correctly anticipated and its impact mitigated within framework of sound credit culture and process in line with the Basel Accords. This is the only practical book that specifically guides bankers through the analysis and management of the peculiar credit risks of counterparties in emerging economies. Each chapter features a one-page overview that introduces its subject and its outcomes. Chapters include summaries, review questions, references, and endnotes. Emphasizes bank credit risk issues peculiar to emerging economies Explains how to attain asset and portfolio quality through efficient lending and credit risk management in high risk-prone emerging economies Presents a simple structure, devoid of complex models, for creating, assessing and managing credit and portfolio risks in emerging economies Provides credit risk impact mitigation strategies in line with the Basel Accords

Download or read book Risk and the Smart Investor written by David C. Martin and published by McGraw Hill Professional. This book was released on 2010-08-20 with total page 289 pages. Available in PDF, EPUB and Kindle. Book excerpt: Master the most important investing skill of all—DECISION MAKING “De-risking your investments requires knowing that there is much you don’t know.” –David X Martin Risk exists because of one simple fact: Decisions are always based on incomplete information. Therefore, to meet your investment goals over the long term, you must learn to manage the risks associated with a decision-making process that is by nature flawed. Risk and the Smart Investor provides a framework for making such decisions. Avoiding unrealistic promises of completely risk-free investing, world-renowned risk management expert David X Martin familiarizes you with the principles of risk management. Based on Martin’s experience in managing risk at several of the world’s largest financial institutions, this principlebased approach presents a unique perspective that helps you manage the risk in every investment you make. Risk and the Smart Investor provides not only a framework for managing risk in today’s markets, it also prepares you to handle the next financial crisis—which is coming, sooner or later—by separating risk management into four separate processes: Assessment—know where you are, but accept the fact that you cannot know everything The Rules of the Game—determine your appetite for risk, diversify accordingly, demand transparency, and institute checks and balances Decision Making—consider all alternatives, fit your plans into specific time frames, and always have an exit strategy Reevaluation—continually monitor the outcomes of your decisions and learn from your mistakes Praise for Risk and the Smart Investor “Interesting and instructive. A good book for those who want to learn about risk and build this knowledge into their financial decisions.” —John Reed, former CEO, Citigroup “David Martin has produced a popular yet serious post-financial crisis reflection on the fundamentals of risk management as a living process. Rich in experience and wisdom, Risk and the Smart Investor is both a useful handbook brimming with insights, and a moral tale for our times. Simply a must-read for every serious investor, risk manager, and just about everyone else.” —Michael Power, professor, London School of Economics and Political Science “David Martin knows risk and the active investor and his book proves it.” —Jerry Lieberman “This book is like having your own mentor to guide you through risk management decisions.” —William Rhodes, Chairman, Citigroup and Citibank