Financial Risk Management Focus

Fri, 15 May 2009 15:10:07 +0000

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Risk Culture and why it's important

Fri, 15 May 2009 07:21:10 +0000

Board members have taken a greater interest in their company's risk management programs, trying to understand the top risks facing the organization and their risk mitigation plans. But one area of the risk management program that has not been a focus until now is a company's "risk culture," a critical element of risk management efforts and an area that board members should better understand... Part of the challenge in addressing the issue is obtaining a clear understanding of what is meant by "risk culture." It can be defined as the system of values and behaviors present throughout an organization that shape risk decisions. Risk culture influences the decisions of management and employees, even if they are not consciously weighing risks and benefits. One element of risk culture is the degree to which individuals understand that risk and compliance rules apply to everyone as they pursue their business goals. To start, that requires a common understanding of the organization and its business purpose (i.e., their raison d'être). Today, some seem to have lost sight of those business goals, forgetting that they serve the company and shareholders, and not the other way around... John Michael Farrell and Angela Hoon write for Directorship, over at BusinessWeek. [Externalrss-FinanceFocus-titles-rssl-8-30][Externalrss-riskmantwitter-titles-rssl-5-30] [RandomProduct-39]

Financial Risk Management Focus

Tue, 12 May 2009 15:19:32 +0000

Web Resource:Risk Theory Society

Tue, 20 Jul 2010 12:07:04 +0000

The Risk Theory Society, originally founded in August, 1963 as the Risk Theory Seminar, is a self-administered organization within the American Risk and Insurance Association (ARIA) whose purpose is to foster research into topics in risk theory and risk management.

Web Resource:DerivativeEngines

Mon, 14 Dec 2009 15:14:47 +0000

A Dynamic option calculator whose volatility curve is updated according to market conditions.

Web Resource:Why We Have Never Used the Black-Scholes-Merton Option Pricing Formula v5

Mon, 06 Jul 2009 07:40:52 +0000

Espen Gaarder Haug and Nassim Nicholas Taleb provide the 5th version of their argument that Black, Scholes and Merton did not invent any formula, just found an argument to make a well known (and used) formula compatible with the economics establishment.

Web Resource:Risk Management Failures - What are They and When do They Happen

Mon, 25 May 2009 12:08:16 +0000

Rene M. Stulz provides a typology of risk management failures and show how various types of risk management failures occur.

Web Resource:Extreme events in finance - some reflections (pdf)

Fri, 08 May 2009 14:11:06 +0000

Remarks by Jean-Pierre Landau Deputy Governor of the Banque de France at the September 08 Conference on extreme events jointly organised by the Banque de France and Toulouse School of Economics.

Web Resource:Risk Management of Extreme Events - The Role of Insurance and Protective Measures (2001, pdf)

Fri, 08 May 2009 14:08:15 +0000

Howard Kunreuther asks about the appropriate role of the private and public sectors in reducing losses and offering insurance protection against extreme risks such as natural disasters, technological accidents and terrorist activities.

Web Resource:Optimal Decision Making under Extreme Event Risks (2002, pdf)

Fri, 08 May 2009 14:05:12 +0000

In this older paper, John M. Mulvey discusses the issues facing the insurance and reinsurance industries in the wake of 9/11.

Web Resource:Catastrophe Futures - Financial Markets for Unknown Risks (1999)

Fri, 08 May 2009 14:01:22 +0000

By Graciela Chichilnisky (Columbia University)

Web Resource:Why Do People Die in Earthquakes - The Costs, Benefits and Institutions of Disaster Risk Reduction in Developing Countries (pdf)

Mon, 02 Feb 2009 13:06:13 +0000

A discussion paper by Charles Kenny - from The World Bank, Sustainable Development Network, Finance Economics & Urban Department

Web Resource:Derivative Dribble

Mon, 02 Feb 2009 09:55:47 +0000

Exploring the least known corners of finance using common terms and common sense (and occasionally game theory).

Risk Management Consultancy: OptiRisk Systems Ltd

Thu, 29 Jul 2010 14:55:40 +0000

Uxbridge, GB - OptiRisk Systems is a UK-based company with a global reach providing products and services for Optimisation and Risk Management solutions. Clients include finance, defence, transportation and supply chain logistics sectors. The company’s roots are in academia; it is closely allied to CARISMA (The Centre for the Analysis of Risk and Optimisation Modelling Applications), Brunel University, UK. OptiRisk has four main streams of activity:- 1. Development of a range of software for Optimisation and Risk applications, including Modelling Systems for Mathematical Programming, Optimisation Tools, and a number of Optimisation Software Suites. These modelling systems are suitable for developing business analytics through rapid prototyping, particularly in Finance and Utilities. 2. Related Consultancy and training. 3. In partnership with CARISMA and Fraunhofer ITWM, a series of Training workshops covering Asset Liability Management; Time Series Modelling and Portfolio Optimisation Tools. Speakers are all experts in their fields, both practitioners and leading academics. The audience is mainly from the business intelligence/analytics community. 4. Research and publication of two definitive Handbooks: (a) Asset Liability Management (b) News Analytics in Finance.

Risk Management Consultancy: Fintegral Consulting AG

Tue, 11 May 2010 13:39:27 +0000

, GB - A start-up consulting company dedicated to risk and performance management in the financial services industry.

Risk Management Consultancy: Quant Risk Group

Wed, 10 Mar 2010 11:46:21 +0000

Wilmington, US - Quant Risk Group is a specialist provider of risk management and investment solutions for the hedge fund industry.

Risk Management Consultancy: Abbaye & Lloyd

Thu, 23 Apr 2009 14:33:02 +0000

Esher, GB - Working together makes us who we are. We provide some of the most experienced and dedicated minds in risk analysis and business management. Together with our key partners we individually and collectively provide you with a comprehensive and wide ranging skills base to understand and improve your business structure and apply this to whatever sector you operate in, however specialised. We provide you with additional support from our own team of business legal advisors, experienced in due diligence, contract law, fraud investigation, intellectual property, tax liabilities, operational risk, financial crime prevention, people and performance management together with many other aspects of corporate law. Our team is committed to providing you with excellence in corporate risk management services, and our strength in this sector comes from the combined experience and talent of our team. Your Business - Our Approach Today's business environment is dominated by economic uncertainty and financial turmoil. The risks faced by all commercial activities are incessant; markets change and disappear almost overnight, competitors are more focussed, customer behaviour is more challenging, financial crime is increasing. It is therefore essential that clear actions are taken to mitigate these risks, based on thorough analysis and dynamic management. Responsibility for Risk Management The first step in excellent risk management for all organisations is to clearly establish who is responsible for this key activity. Depending on the size of the organisation, this could be a single individual, or for larger businesses, a risk working group is an appropriate component of overall corporate governance. The best risk managers are those who have the ability to do something about it. Risk Analysis A consistent and pro-active approach is required. It is not sufficient to manage the fall-out from risk events after they have occurred. Excellent risk management requires a regular forward looking analysis of all the actual and potential risks faced by the organisation. This will then allow for strategic and tactical plans to be put in place to address these risks. There can be many different views on the extent of perceived risk; an event which causes failure of one business, may only pose a small threat to another. It is therefore essential that a clear framework is established and rigorously followed. Benefits to you Risk management is not only about fire fighting and dealing with negative issues; it is much much more. Indeed, there may be times when all does not go according to plan. That is the nature of business. Robust and proactive risk management will benefit every part of your business and create opportunity and confidence for you to suceed. We believe in enhancing all you stand for. We provide the right help in the right situation. If you have considered out-sourcing your current risk and compliance roles then see what benefits we can provide, from simply a helping hand to comprehensive in depth advice, assistance and support. Please call 07787438618 to find out more about our tailored flexible packages, our 'use as you need' contracts and our 'business relation partnerships'. We offer you a free consultation to discuss your business requirements. Abbaye & Lloyd .. Embrace Our philosophy: Positive thought creates positive change

Risk Management Consultancy: Euristix Ltd

Wed, 08 Apr 2009 07:36:21 +0000

London, GB - Euristix is a specialist analytics and risk management firm whose practitioners have hands-on experience of running retail financial services businesses.