Financial Risk Management For Dummies

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Take the risk out of financial risk management

Written by bestselling author and past winner of the GARP Award's Risk Manager of the Year, Aaron Brown, Financial Risk Management For Dummies offers thorough and accessible guidance on successfully managing and controlling financial risk within your company. Through easy-to-follow instruction, you'll find out how to manage risk, firstly by understanding it, and then by taking control of it. Plus, you'll discover how to measure and value financial risk, set limits, stop losses, control drawdowns and hedge bets.

Financial risk management uses financial instruments to manage exposure to risk within firms, large and small—particularly credit risk and market risk. From managing and measuring risk to working in financial institutions and knowing how to communicate risk to your company and clients, Financial Risk Management For Dummies makes it easy to make sense of the management of risk when working in various different financial institutions and concludes by covering the topic of how to communicate risk – how to report it properly and how to deal with and comply with all of the regulations.

Covers managing risk and working as a financial risk manager

Provides everything you need to know about measuring financial risk

Walks you through working in financial institutions

Demonstrates how to communicate risk

If you work in the financial sector and want to make financial risk management your mission, you've come to the right place!

Автор

Aaron Brown

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Financial Risk Management For Dummies^>®

Published by: John Wiley & Sons, Ltd., The Atrium, Southern Gate, Chichester, www.wiley.com

This edition first published 2016

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Library of Congress Control Number: 2015951253

ISBN 978-1-119-08220-0 (hardback/paperback) ISBN 978-1-119-08218-7 (ebk)

ISBN 978-1-119-08219-4 (ebk)

Introduction

Risk management is about preparing for anything that might happen. People who try to predict the future are the enemies of risk management. They’re the ones who say, ‘Let’s build a wall on the north side of town because that’s where we predict the attack will come.’ Risk managers know that leaving any gap in the wall means the attackers will exploit the gap.

Preventing disaster is easy – you just don’t take any risk. Risk management is about surviving disaster, not preventing it. If there weren’t disasters, you wouldn’t call it risk. You need risk – and its attendant disasters – to learn, to grow, to excel.

If you want to be a risk manager, this book gives you a good start. You need practice at risk taking, plus some maths and financial theory, plus some practice at finance. If you already have all of those things, you should be writing this book, not reading it.

About This Book

People have been concerned about risk as long as there have been people. Financial Risk Management For Dummies explains the background and some theory about risk, quantitative analysis of risk and modern financial risk management and shows you how to apply them in practice, without jargon or mathematics. Okay, I throw in a few examples that require addition and multiplication, but they’re clearly labelled and can be skipped, and I also give you lots of simple, specific illustrations.

This book tells you what financial risk managers do and why they do it.

Foolish Assumptions

I make three different guesses about who you are and why you’re reading this book:

✔ You’re currently, or hope to be, a financial manager, and you want to delve into the risk management aspect of your job. By itself, this book cannot teach you that, but if you already know the basic financial theory and mathematics or go elsewhere to discover them, this book can show you how to apply them properly to become a good financial risk manager.

✔ You work with financial risk managers and want to understand how they see things. This book can show you the world from their perspective, and help you form constructive partnerships.

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