The Professional Risk Managers' Guide to Finance Theory and Application

The Professional Risk Managers' Guide to Finance Theory and Application
Author: Professional Risk Managers' International Association (PRMIA)
Publisher: McGraw Hill Professional
Total Pages: 272
Release: 2007-12-21
Genre: Business & Economics
ISBN: 0071631623

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This comprehensive reference brings together ten of the world's leading scholars and practitioners, who provide invaluable perspectives on all aspects of finance theory and how they are applied to the process of risk management. The book begins with an overview of risk and risk aversion, introducing utility functions and the mean-variance criterion. It then delivers a thorough introduction to portfolio mathematics, including discussion of the efficient frontier, portfolio theory, and portfolio diversification. Written to help you fortify your defenses against extreme, unanticipated outcomes, and to ensure that returns are an adequate reward for risks taken, The Professional Risk Managers' Guide to Finance Theory and Application covers key issues such as: The theory of capital allocation Capital structure, that is, debt versus equity financing The CAPM and multifactor models Interest rate models The term structure of interest rates No-arbitrage pricing of futures and forwards Risk-neutral valuation of options Offering a global view not found elsewhere, The Professional Risk Managers' Guide to Finance Theory and Application arms institutional investors, professional financial analysts and traders, auditors, corporate treasurers, regulators and actuaries with the practical tools to master any financial field.

The Professional Risk Managers' Handbook Series 1

The Professional Risk Managers' Handbook Series 1
Author: Professional Risk Managers' International Association
Publisher:
Total Pages: 476
Release: 2010
Genre: Commodity exchanges
ISBN: 9780976609742

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The Professional Risk Managers? Guide to Finance Theory and Application is a complete reference for risk managers in all areas of finance, from insurance and banking to asset management and institutional investing. Ten experts from around the world discuss every aspect of finance theory and how it is intertwined with the process of risk management.

Financial Risk Manager Handbook

Financial Risk Manager Handbook
Author: Philippe Jorion
Publisher: Wiley
Total Pages: 816
Release: 2010-12-23
Genre: Business & Economics
ISBN: 9781118017890

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The essential reference for financial risk management Filled with in-depth insights and practical advice, the Financial Risk Manager Handbook is the core text for risk management training programs worldwide. Presented in a clear and consistent fashion, this completely updated Sixth Edition, mirrors recent updates to the new two-level Financial Risk Manager (FRM) exam, and is fully supported by GARP as the trusted way to prepare for the rigorous and renowned FRM certification. This valuable new edition includes an exclusive collection of interactive multiple-choice questions from recent FRM exams. Financial Risk Manager Handbook, Sixth Edition supports candidates studying for the Global Association of Risk Professional's (GARP) annual FRM exam and prepares you to assess and control risk in today's rapidly changing financial world. Authored by renowned risk management expert Philippe Jorion, with the full support of GARP, this definitive guide summarizes the core body of knowledge for financial risk managers. Offers valuable insights on managing market, credit, operational, and liquidity risk Examines the importance of structured products, futures, options, and other derivative instruments Contains new material on extreme value theory, techniques in operational risk management, and corporate risk management Financial Risk Manager Handbook is the most comprehensive guide on this subject, and will help you stay current on best practices in this evolving field. The FRM Handbook is the official reference book for GARP's FRM certification program.

The Professional Risk Manager Exam Handbook

The Professional Risk Manager Exam Handbook
Author: Jaffar Mohammed Ahmed
Publisher: Harriman House Limited
Total Pages: 0
Release: 2015-06
Genre: Business & Economics
ISBN: 0857193449

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Risk management is no longer merely a passive cost-center in financial and non-financial organizations. Regulators, shareholders, executive management and investors look to risk managers for advice on risk budgeting. Since the financial crisis erupted in 2007, risk managers are expected more than before to make a thorough internal assessment of their organization's risk management frameworks and advise the board of directors and investors on their findings. Through its Professional Risk Manager (PRM) examination and qualification, the Professional Risk Managers' International Association (PRMIA) offers an outstanding tool of education for risk managers at all institutions. To be awarded the PRM designation, candidates must successfully pass four exams. The Professional Risk Manager (PRM) Exam Handbook - Exam 1 covers the Learning Outcome Statements (LOS) issued by PRMIA for Exam 1. The topics dealt with in this exam are: finance theory, financial instruments and financial markets. Due to the limited number of study manuals available for the PRM exams, candidates have previously had to rely on a wide range of resources on finance and financial instruments to learn the information they need. This approach is time-consuming and does not leave the candidate feeling confident about their readiness for the exams. The Professional Risk Manager (PRM) Exam Handbook is designed to address this problem and help PRM candidates prepare for the the PRM exams. The intention is to remove the need to refer to many different reference works and to make the obscure concepts comprehensible. The Handbook has been designed to cover everything you will need to know for PRM Exam 1. Information is presented in a clear, organized way, and demand very little previous knowledge of risk and finance. PRM candidates coming from a non-financial background should face no difficulty using this book as a reference to the intricacies of financial markets and risk management.

Autonomous Horizons

Autonomous Horizons
Author: Greg Zacharias
Publisher: Independently Published
Total Pages: 420
Release: 2019-04-05
Genre:
ISBN: 9781092834346

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Dr. Greg Zacharias, former Chief Scientist of the United States Air Force (2015-18), explores next steps in autonomous systems (AS) development, fielding, and training. Rapid advances in AS development and artificial intelligence (AI) research will change how we think about machines, whether they are individual vehicle platforms or networked enterprises. The payoff will be considerable, affording the US military significant protection for aviators, greater effectiveness in employment, and unlimited opportunities for novel and disruptive concepts of operations. Autonomous Horizons: The Way Forward identifies issues and makes recommendations for the Air Force to take full advantage of this transformational technology.

Liquidity Management

Liquidity Management
Author: Aldo Soprano
Publisher: John Wiley & Sons
Total Pages: 210
Release: 2015-02-26
Genre: Business & Economics
ISBN: 1118413962

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Robust management of liquidity risk within the changing regulatory framework Liquidity Management applies current risk management theory, techniques, and processes to liquidity risk control and management to help organizations prepare in case of future economic crisis and changing regulatory framework. Based on extensive research conducted on banks' datasets, this book addresses the practical challenges and critical issues that frequently go unmentioned, and discusses the recent impact of sovereign crises on banks' liquidity processes and approaches. Market practices and regulatory stances are reviewed and compared to bank treasuries' response to liquidity crunches, refinancing risks are explored in the context of Basel 3, and alternative funding is analyzed in terms of resilience and allocation. Coverage includes the recent crisis, new regulations, and the techniques, processes, and strategies banks use in managing liquidity risk. The 2008 and 2010 crises brought liquidity risk out of the shadows as even profitable and well-capitalized banks were swept away with breathtaking speed. This book reviews modeling and internal process design in the context of the structural change in market conditions on banks' refinancing and control requirements, helping readers rethink and re-design their organization's approach to liquidity risk. Understand the new liquidity regulatory framework and the implications for banks Study the latest liquidity measurement models, with stress testing and scenario analysis Discover the effect of illiquid financing markets and possible lasting impacts Compare market liquidity and warning signals that detect further deterioration With much of the world still reeling from history, it's important that liquidity risk become a major focus going forward. This practical guide provides valuable information, but also real, actionable steps that can be taken today to forecast and mitigate risks with an eye toward greater stability and security. Liquidity Management is a thorough, comprehensive guide to a more robust management of liquidity risk.

Refrigeration Systems and Applications

Refrigeration Systems and Applications
Author: Ibrahim Din¿er
Publisher: John Wiley & Sons
Total Pages: 990
Release: 2017-03-23
Genre: Technology & Engineering
ISBN: 1119230780

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The definitive text/reference for students, researchers and practicing engineers This book provides comprehensive coverage on refrigeration systems and applications, ranging from the fundamental principles of thermodynamics to food cooling applications for a wide range of sectoral utilizations. Energy and exergy analyses as well as performance assessments through energy and exergy efficiencies and energetic and exergetic coefficients of performance are explored, and numerous analysis techniques, models, correlations and procedures are introduced with examples and case studies. There are specific sections allocated to environmental impact assessment and sustainable development studies. Also featured are discussions of important recent developments in the field, including those stemming from the author’s pioneering research. Refrigeration is a uniquely positioned multi-disciplinary field encompassing mechanical, chemical, industrial and food engineering, as well as chemistry. Its wide-ranging applications mean that the industry plays a key role in national and international economies. And it continues to be an area of active research, much of it focusing on making the technology as environmentally friendly and sustainable as possible without compromising cost efficiency and effectiveness. This substantially updated and revised edition of the classic text/reference now features two new chapters devoted to renewable-energy-based integrated refrigeration systems and environmental impact/sustainability assessment. All examples and chapter-end problems have been updated as have conversion factors and the thermophysical properties of an array of materials. Provides a solid foundation in the fundamental principles and the practical applications of refrigeration technologies Examines fundamental aspects of thermodynamics, refrigerants, as well as energy and exergy analyses and energy and exergy based performance assessment criteria and approaches Introduces environmental impact assessment methods and sustainability evaluation of refrigeration systems and applications Covers basic and advanced (and hence integrated) refrigeration cycles and systems, as well as a range of novel applications Discusses crucial industrial, technical and operational problems, as well as new performance improvement techniques and tools for better design and analysis Features clear explanations, numerous chapter-end problems and worked-out examples Refrigeration Systems and Applications, Third Edition is an indispensable working resource for researchers and practitioners in the areas of Refrigeration and Air Conditioning. It is also an ideal textbook for graduate and senior undergraduate students in mechanical, chemical, biochemical, industrial and food engineering disciplines.

The Algorithmic Foundations of Differential Privacy

The Algorithmic Foundations of Differential Privacy
Author: Cynthia Dwork
Publisher:
Total Pages: 286
Release: 2014
Genre: Computers
ISBN: 9781601988188

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The problem of privacy-preserving data analysis has a long history spanning multiple disciplines. As electronic data about individuals becomes increasingly detailed, and as technology enables ever more powerful collection and curation of these data, the need increases for a robust, meaningful, and mathematically rigorous definition of privacy, together with a computationally rich class of algorithms that satisfy this definition. Differential Privacy is such a definition. The Algorithmic Foundations of Differential Privacy starts out by motivating and discussing the meaning of differential privacy, and proceeds to explore the fundamental techniques for achieving differential privacy, and the application of these techniques in creative combinations, using the query-release problem as an ongoing example. A key point is that, by rethinking the computational goal, one can often obtain far better results than would be achieved by methodically replacing each step of a non-private computation with a differentially private implementation. Despite some powerful computational results, there are still fundamental limitations. Virtually all the algorithms discussed herein maintain differential privacy against adversaries of arbitrary computational power -- certain algorithms are computationally intensive, others are efficient. Computational complexity for the adversary and the algorithm are both discussed. The monograph then turns from fundamentals to applications other than query-release, discussing differentially private methods for mechanism design and machine learning. The vast majority of the literature on differentially private algorithms considers a single, static, database that is subject to many analyses. Differential privacy in other models, including distributed databases and computations on data streams, is discussed. The Algorithmic Foundations of Differential Privacy is meant as a thorough introduction to the problems and techniques of differential privacy, and is an invaluable reference for anyone with an interest in the topic.

Risk Governance

Risk Governance
Author: Elizabeth Sheedy
Publisher: Routledge
Total Pages: 228
Release: 2021-06-10
Genre: Business & Economics
ISBN: 100039560X

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Biases, blind spots and bonuses (or incentives more broadly) have led to numerous risk management disasters. Risk governance is a potential solution to these problems yet is not always as effective as we would like it to be. One reason for that is the current dearth of risk governance expertise. This book seeks to address this issue, providing: Understanding of the fundamental forces that cause disasters: the biases, blind spots and bonuses. This understanding is drawn from the disciplines of economics/finance and psychology; Explanation of the structures of risk governance and common challenges experienced in their use e.g. board risk committee, risk/compliance function, assurance function, risk appetite statement, risk disclosures; Thorough investigation of risk culture and its importance in risk governance, including the assessment of risk culture; Understanding of the mechanisms of executive compensation and how they link to risk management – one of the most difficult challenges confronting both risk and remuneration committees; Explanation of the risk management process (based on international standards ISO31000), including practical guidance on risk communication, analysis and treatment; Guidance on the management of strategic risk, emphasising the importance of scenario analysis; Application of these principles to cyber risk, climate risk – two pervasive risks affecting almost every organisation; Numerous case studies and examples drawn from various industries around the world; and Discussion of what has been learned about risk governance from the COVID-19 experience. The book is an essential guide for postgraduate students; participants in professional education programs in governance and risk management; directors; senior executives; risk, compliance and assurance professionals as well as conduct and prudential regulators worldwide.