Risk Management Technology in Financial Services. Risk by Dimitris N. Chorafas

By Dimitris N. Chorafas

Written for pros in monetary companies with accountability for IT and possibility administration, Dimitris Chorafas surveys the method required and IT structures and buildings to aid it based on Basel II. The ebook is in step with the chance administration certification means of GARP, in addition to the accounting principles of IFRS, in accordance with learn the writer carried out with IASB. the writer provices an in-depth dialogue of the kinds of chance, rigidity research and using eventualities, mathematical types, and IT structures and infrastructure requisites.

* Written in transparent, straight forward kind for monetary executives to supply priceless info for chance keep watch over decisionmaking
* in step with GARP, IFRS and IASB danger administration tactics and procedures
* Explains pressure trying out and its position in probability keep an eye on

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Extra resources for Risk Management Technology in Financial Services. Risk Control, Stress Testing, Models, and IT Systems and Structures

Sample text

A 2006 study by the Geneva Association, the R&D lab and training entity of the global insurance industry, indicates the types of regulation that requires the largest allocation of human resources. 2 This sounds like being a problem. In reality, however, it is an opportunity. 2 demonstrates. 1. m. Page:29 Trimsize:165×234 MM What is meant by risk management? 2 Firms responding that the new regulation is an opportunity to innovate (ordered as percentage of premium)∗ ∗ Statistics by The Geneva Association, Progress No.

Risk is a very dynamic business. Changes in portfolio exposures may come unexpectedly. Hence, the risk manager must: Be ready to think the unthinkable, Challenge the obvious conclusion, Adjust swiftly to changes resulting from market pressures, and Know how to exercise damage control. In his daily work, the risk manager is confronted with expected losses (EL), which follow a more or less known pattern, and unexpected losses (UL) having a totally different distribution than EL in terms of frequency and impact.

6 F. Lee Bailey, For the Defence, New American Library/Signet, New York, 1975. m. 1 Derivatives defined The theme of Chapter 1 has been innovation, and that of Chapter 2 risk management. Derivative financial instruments, or simply derivatives, are innovative products, which are becoming increasingly complex and requiring an extraordinary amount of risk management. Examples include options, futures, forwards, swaps, various certificates and more. Derivatives are contracts whose price is based on the value of underlying securities, which may be equity indices, debt instruments, commodities or other benchmarks or variables.

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