Risk Management Technology in Financial Services

Risk Management Technology in Financial Services

Risk Control, Stress Testing, Models, and IT Systems and Structures

1st Edition - June 12, 2007

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  • Author: Dimitris Chorafas
  • eBook ISBN: 9780080498096

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Description

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.

Key Features

* 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

Readership

IT Directors, IT Managers, and Risk Mangement Directors in financial services industries worldwide; risk management software application developers in financial institutions and in software firms providing financial applications and solutions; Consultants providing IT and risk management services to the financial services industry.

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

Product details

  • No. of pages: 352
  • Language: English
  • Copyright: © Butterworth-Heinemann 2007
  • Published: June 12, 2007
  • Imprint: Butterworth-Heinemann
  • eBook ISBN: 9780080498096

About the Author

Dimitris Chorafas

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.

Affiliations and Expertise

CORPORATE CONSULTANT IN ENGINEERING AND MANAGEMENT, PARIS VISITING PROFESSOR, INFORMATION SCIENCE AND BUSINESS ADMINISTRATION, WASHINGTON STATE UNIVERSITY

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