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

By Dimitris N. Chorafas

Written for execs in monetary providers with accountability for IT and chance administration, Dimitris Chorafas surveys the technique required and IT structures and buildings to help it in accordance with Basel II. The e-book is in step with the chance administration certification means of GARP, in addition to the accounting ideas of IFRS, according to study the writer performed with IASB. the writer provices an in-depth dialogue of the kinds of chance, tension research and using situations, mathematical types, and IT platforms and infrastructure necessities.

* Written in transparent, trouble-free variety for monetary executives to supply important details for probability keep an eye on decisionmaking
* in keeping with GARP, IFRS and IASB possibility administration methods and procedures
* Explains rigidity checking out and its position in danger regulate

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M. Page:42 Trimsize:165×234 MM Risk management technology in financial services their assessment, parameter values and methodology being used. Companies should use auditing to review their systems of risk management and internal control at least annually. When this is done a number of critical questions must be asked: How many incidents have taken place since the last audit regarding compliance? Which risk factors failed to keep within limits? How often? What is special about these risks? Is risk exposure maintained at prudent levels?

Typically, the spread book trades swap spreads using Treasuries to hedge mediumto long-dated swaps, as well as a combination of futures and Treasuries for the short term. This is complex enough, but it becomes even more so when it is integrated with the volatility book which tracks deals in caps, floors, captions, swaptions and spread options. Such integration makes good sense, but it also brings the skills of risk managers and of the bank’s technology to its limits; therefore, it is rarely found.

The way to bet is that this proposal will be short lived. A basic philosophy in risk management is that every conclusion which has come from analysis and experimentation stands moment by moment on the razor’s edge of change. 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.

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