The Shape of Risk

Written by an experienced risk manager, this innovative new book explores the core concepts of risk management, including in-depth coverage of its scope, rationale, and practical applications. In addition to being fundamentally important to risk managers, this text will also be invaluable to senior executives, directors, regulators, and capital markets professionals. Students, lay readers, and others interested in finance will find a vast subject made engaging and accessible. Written with unusual clarity, The Shape of Risk makes use of graphics, case studies, and questions. The author encourages readers to develop their own intuition and judgment for identifying and managing risk. This is an excellent starting point for a new generation of readers who increasingly need a both practical and conceptual understanding of risk management.

'Mr Fishkin's new book, exploring the core concepts of risk management, is a useful work for senior management.' - Accountancy Ireland

'...we bankers are truly fortunate that Charles Fishkin has had the good judgement to provide us with another fine addition to our risk management libraries. His Shape of Risk merits a place on our shelves not only because of its well-organised structure, but also because of the attention he focuses on the organizational aspects of risk management... If Cicero's contention that fortune, not wisdom, rules man's life, then it's worth the risk to buy and read this book and gain a little wisdom on the way to good fortune.' - Dev Strischek, Risk Management Association Journal

Autorentext
CHARLES A. FISHKIN is the Director of the Office of Risk Assessment for the United States Securities and Exchange Commission, where he oversees the agency's risk management program. The first director of the SEC's risk unit, he has also held a variety of other roles in capital markets and finance, most recently as a risk manger for Fidelity Investments in Boston, Massachusetts. He was also a member of the Board of Directors of the International Association of Financial Engineers and co-chair of its Operational Risk Committee. Throughout his career, he has written and spoken extensively on risk management issues. Fishkin is originally from Nebraska, and is a graduate in economics from the University of Chicago. He and his family live in Wellesley, Massachusetts.

Inhalt
Prelude Foreword; C.Smithson Author's Preface PART 1: PRINCIPLES Risk: A Shape to be Drawn Definitions: Categories and Choices Risk Managers: Map Makers Credit Risk: A Traditional Challenge Market Risk: A New Challenge Operational Risk: Everyman Governance: Taking Action PART 2: CHALLENGES Initial Steps: Thinking, Planning and Doing Separation of Duties: The Front, Middle and Back Office People: The Silent Risk Institutional Knowledge: The Knowledge Factory New Products: Managing Innovation Measurement: The Size of Risk PART 3: APPLICATIONS Data: Particles of Risk Indicators: Messages and Signals Technology: Multiple Dimensions PROCESSES Derivatives: Trading Safely Collateral: Order and Complexity Master Agreements: The Documentation Vortex PART 4: CONCLUSION Summing Up and Looking Ahead Acknowledgements and Personal Reflections Glossary References and Further Reading Epilogue Index