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Table Of Contents

1.1 BARINGS: FLAWED CONTROLS
1.2 LONG TERM CAPITAL MANAGEMENT: TOO MUCH LEVERAGE, TOO LITTLE LIQUIDITY
1.3 MERRILL LYNCH: TOO MUCH RISK, NOT ENOUGH GOVERNANCE
1.4 FAILURES IN THE RISK PROCESS
2.1 MARKET RISK
2.2 CREDIT RISK
2.3 LIQUIDITY RISK
2.4 MODEL RISK
2.5 SUITABILITY RISK
2.6 PROCESS RISK
2.7 LEGAL RISK
3.3 ASSET AND FUNDING LIQUIDITY RISK
3.4 LEVERAGE ARBITRAGE
3.5 MONITORING LIQUIDITY RISK
3.6 INFLUENCING BEHAVIOR TO ALTER LIQUIDITY PROFILES
3.6.1 Balance sheet targets
3.6.2 Concentration limits
3.6.3 Aged/illiquid inventory penalties
3.6.4 Adequate haircuts
3.6.5 Diversified funding
3.7 TEN USEFUL LIQUIDITY RISK QUESTIONS
Suitability: Coping with Customers
4.1 SUITABILITY CASES
4.1.1 Orange County
4.1.2 Procter and Gamble
4.1.3 Sumitomo Corporation
4.1.4 Prudential Securities
4.2 KNOWING YOUR CUSTOMER
4.2.1 Funds
4.2.2 Governments and charities
4.2.3 Other corporations and financial intermediaries
4.3 THE CREDIT DECISION: BUSINESS CONSIDERATIONS
4.4 DEALING WITH CLIENT SUITABILITY
4.5 TOWARD BETTER DISCLOSURE
4.6 TEN USEFUL SUITABILITY RISK QUESTIONS
Process Risks: The Next Frontier
5.1 DEFINING PROCESS RISK
5.2 CATEGORIZING PROCESS RISK
5.3 DISASTER RECOVERY RISK
5.4 BUSINESS RECOVERY RISK
5.5 PEOPLE RISK
5.6 FRONT-OFFICE ERROR RISK
5.7 OPERATIONS ERROR RISK
5.8 SOFTWARE ERROR RISK
5.9 AUTHORIZATION RISK
5.10 STRUCTURED PRODUCT RISK
5.11 DOCUMENTATION FOLLOW-UP RISK
5.12 COLLATERAL RISK
5.13 TRAINING AND REGULATORY COMPLIANCE RISK
5.14 CONTROLLING PROCESS RISKS
5.15 TEN USEFUL PROCESS RISK QUESTIONS
Measurement: Quantifying the Risks
6.1 MATHEMATICAL MEASURES
6.2 SUBJECTIVE MEASURES
6.3 MEASURING DIFFERENT RISKS
6.3.1 Market risks
6.3.2 Credit risks
6.3.3 Liquidity risks
6.3.4 Process risks
6.3.5 Legal, suitability and reputational risks
8.1 RISK PHILOSOPHY
8.1.1 Financial risk and corporate goals
8.1.2 Focus of “balance sheet” risk activities
8.1.3 Stakeholder expectations
8.2 RISK TOLERANCE
8.2.1 How much is the firm willing to lose?
8.2.2 What resources are available?
8.2.3 Is the firm getting paid to take risk?
9.1 PRINCIPLE 1: CLEAR RISK APPETITE
9.2 PRINCIPLE 2: EFFICIENT RISK ALLOCATION
9.3 PRINCIPLE 3: EFFICIENT AND INDEPENDENT CONTROL FUNCTIONS
9.4 PRINCIPLE 4: THOROUGH BUSINESS REVIEWS
9.5 PRINCIPLE 5: FOCUS ON TOP 10 RISKS
9.6 PRINCIPLE 6: SOLID RISK INFRASTRUCTURE
9.7 PRINCIPLE 7: ZERO TOLERANCE FOR VIOLATIONS
9.8 PRINCIPLE 8: NO SURPRISES!
10.1 CREATING A CULTURE OF ACCOUNTABILITY
10.2 ROLES AND RESPONSIBILITIES
11.1 CREATING A RISK FRAMEWORK
11.1.1 Computing maximum losses
11.1.2 Aggregating losses
11.1.3 Credit risk
11.1.4 Liquidity risk
11.1.5 Settling limits at different levels
11.2 THE COMPLETE RISK FRAMEWORK
11.3 MONITORING, ADJUSTING AND DEALING WITH EXCEPTIONS
12.1 RULE 1: STICK TO THE RISK FRAMEWORK
12.2 RULE 2: ESCALATE ALL EXCEPTIONS
12.3 RULE 3: ORGANIZE ALL RISK TAKING
12.4 RULE 4: ALLOCATE CAPITAL EFFICIENTLY
12.5 RULE 5: BE ACCURATE AND TRANSPARENT IN ACCOUNTING
12.6 RULE 6: BE ABLE TO EXPLAIN RISK EARNINGS IN DETAIL
12.7 RULE 7: KNOW THY CLIENT
12.8 RULE 8: UNDERSTAND THE WORST-CASE SCENARIOS
13.1 SUPPLEMENTING AUTOMATED PROCESSES
13.2 MANUAL CONTROL 1: TOP PROFESSIONALS
13.2.1 Skills
13.2.2 Integrity and character
13.3 MANUAL CONTROL 2: EFFECTIVE HUMAN RESOURCE MANAGEMENT
13.3.1 Staying fresh
13.3.2 Managing actively
13.4 MANUAL CONTROL 3: PROPER MOTIVATION
13.4.1 Incentive compensation
13.4.2 Leadership and teamwork
13.5 MANUAL CONTROL 4: COMMUNICATIONS
13.6 MANUAL CONTROL 5: SPOT CHECKS
14.1 POLICIES
14.2 REPORTING MECHANISMS
14.3 DATA AND TECHNOLOGY INFRASTRUCTURE
14.3.1 Data
14.3.2 Technology
15.1 ONGOING DIAGNOSTICS
15.2 AN IDEAL WORLD
15.3 CLUES, CAUSES AND CURES
15.3.1 Governance
15.3.2 Identification
15.3.3 Measurement
15.3.4 Reporting/monitoring
15.3.5 Ongoing management
15.3.6 Infrastructure
15.8 TEN QUESTIONS THE HEAD INTERNAL AUDITOR OUGHT TO BE ABLE TO ANSWER
15.9 TEN QUESTIONS THE PRIMARY REGULATOR OUGHT TO BE ABLE TO ANSWER
15.10 TEN QUESTIONS THE HEAD EXTERNAL AUDITOR OUGHT TO BE ABLE TO ANSWER
Conclusion: Can there be Heroes?
Glossary
References
Index
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Published by karahaas
risk management
risk management

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Categories:Types, Business/Law
Published by: karahaas on Jan 18, 2013
Copyright:Attribution Non-commercial

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08/16/2013

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