Risk Management Technology in Financial Services: Risk Control, Stress Testing, Models, and IT Systems and Structures

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Overview

Written for professionals in financial services with responsibility for IT and risk management, Dimitris Chorafas surveys the methodology required and IT systems and structures to support it according to Basel II. The book is consistent with the risk management certification process of GARP, as well as the accounting rules of IFRS, based on research the author conducted with IASB. The author provices an in-depth discussion of the types of risk, stress analysis and the use of scenarios, mathematical models, and IT systems and infrastructure requirements.

* Written in clear, straightforward style for financial industry executives to provide necessary information for risk control decisionmaking
* Consistent with GARP, IFRS and IASB risk management processes and procedures
* Explains stress testing and its place in risk control

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Product Details

  • ISBN-13: 9780750683043
  • Publisher: Elsevier Science
  • Publication date: 8/6/2007
  • Series: Elsevier Finance Series
  • Pages: 352
  • Product dimensions: 6.30 (w) x 9.30 (h) x 1.20 (d)

Meet the Author

Since 1961, Dr Dimitris N. Chorafas has advised financial institutions and industrial corporations in strategic planning, risk management, computers and communications systems, and internal controls. A graduate of the University of California, Los Angeles, the University of Paris, and the Technical University of Athens, Dr Chorafas has been a Fulbright scholar. Financial institutions which have sought his assistance include the Union Bank of Switzerland, Bank Vontobel, CEDEL, the Bank of Scotland, Credit Agricole, Österreichische Länderbank (Bank Austria), First Austrian Bank, Commerzbank, Dresdner Bank, Mid-Med Bank, Demir Bank, Banca Nazionale dell'Agricoltura, Istituto Bancario Italiano, Credito Commerciale and Banca Provinciale Lombarda. Among multinational corporations Dr Chorafas has worked as consultant to top management, are: General Electric-Bull, Univac, Honeywell, Digital Equipment Corp, Olivetti, Nestlé, Omega, Italcementi, Italmobiliare, AEG-Telefunken, Olympia, Osram, Antar, Pechiney, the American Management Association and host of other client firms in Europe and the United States. Dr Chorafas has served on the faculty of the Catholic University of America and as visiting professor at Washington State University, George Washington University, University of Vermont, University of Florida, and Georgia Institute of Technology. Also, the University of Alberta, Ecole d'Etudes Industrielles de l'Université de Genève, and Technical University of Karlsruhe. More than 6,000 banking, industrial and government executives have participated in his seminars in the United States, England, Germany, other European countries, Asia and Latin America.
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Table of Contents

Contents

Foreword, by Francis-luc Perret
Preface

Part 1 Innovation, risk, and return
Chapter 1 Innovation in finance
Chapter 2 What is meant by risk management?
Chapter 3 Complxity of risk control with derivatives
Chapter 4 Intergrating risk management through an enterprise architecure
Chapter 5 Case studies on big product problems that went unattended
Part 2 Risk control methodology and advanced models
Chapter 6 A methodology for risk management
Chapter 7 The contribution of models to experimentation
Chapter 8 Simulation
Chapter 9 Using knowledge engineering for risk control
Chapter 10 Optimization through genetic algorithms
Chapter 11 Testing, backtesting, post-mortems and experimental methodology
Part 3 Increasing the effectiveness of information systems support
Chapter 12 Adding value to risk control through IT and organization
Chapter 13 Technology for time management, high frequency financial data and high impact events
Chapter 14 Project management for IT and risk control
Chapter 15 Implementing design reviews
Chapter 16 Quality, reliability and availability
Chapter 17 Being in charge of IT costs

Index

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