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Book Description
In an age where companies and financial institutions are keenly focused on managing the financial risk of their operations, the implementation of quantitative methods and models has been of tremendous help. Tools such as VaR, credit VaR, risk-adjusted returns, and scenario analyses have given institutions the means to quantify and understand their risk profiles. However, the focus on quantitative risk management, while important, can sometimes be over-emphasized--at the expense of logic and experience. At its core, the successful management of risk is still largely an "art." The Simple Rules of Risk takes a fresh look at the qualitative aspects of risk management. It also considers how qualitative approaches can make optimal use of the mathematical aspects of risk management to create the most effective framework possible.
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"In an age where companies and financial institutions are keenly focusing on managing the financial risk of their operations, the implementation of quantitative methods and models has been of tremendous help, allowing firms to analyze and manage their risk more efficiently and effectively. However, the focus on quantitative risk management, while important, can sometimes be over-emphasized at the expense of judgement, logic and experience. Market dislocations of the 1990s have revealed the shortcomings of purely quantitative approaches to risk management; and the need for a strong grounding in the ""common sense"" aspects of the discipline. At its core, the successful management of risk is largely an ""art"". In The Simple Rules of Risk, the author, based on over fifteen years experience in senior risk management positions around the world, takes a fresh look at the qualitative aspects of risk management. Providing detailed presentation and discussion of the simple rules that should form the core of any effective risk management process, including the 10 cardinal rules, Erik Banks shows how these, in conjunction with new or existing quantitative procedures, can form the basis of an effective and robust risk management framework."
--This text refers to the
Digital
edition.
The Simple Rules of Risk : Revisiting the Art of Financial Risk Management (The Wiley Finance Series)
The Simple Rules of Risk : Revisiting the Art of Financial Risk Management (The Wiley Finance Series),Erik Banks,John Wiley & Sons,0470847743,Business & Economics,Business / Economics / Finance,Business/Economics,Finance,Financial futures,Financial risk management,Investment Finance,Investments & Securities - General,Risk management,Budgeting & financial management,Business & Economics / Finance,Risk assessment & analysis for business
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