Suchergebnisse

"Thepractice of quantitative risk management has reached unprecedented levels of refinement.The pricing, the assessment of risk as well as the computation of the capitalrequirements for highly complex transactions are performed through equally complex mathematical models, running on advanced computer systems, developedand operated by dedicated, highly qualified specialists. With thissophistication, however, come risks that are unpredictable, globallychallenging and difficult to manage. Model risk is a prime example andprecisely the kind of risk that those tasked with managing financial institutionsas well as those overseeing the soundness and stability of the financial systemshould worry about. This book starts with setting the problem of the validation of risk models withinthe context of banking governance and proposes a comprehensive methodological framework for the assessment of models against compliance, qualitative andquantitative benchmarks. It provides a comprehensive guide to the tools andtechniques required for the qualitative and quantitative validation of the keycategories of risk models, and introduces a practical methodology for themeasurement of the resulting model risk and its translation into prudentadjustments to capital requirements and other estimates"--

Auf Grundlage der Psychologie des Risikos und mithilfe von Beispielen (u.a. Geldanlage, Krebsfrüherkennung) entwickelt der Autor eine Strategie der Risikokompetenz, der Fähigkeit zur schnellen und intelligenten Einschätzung von Situationen, in denen nicht alle Risiken bekannt sind. (Uwe-Friedrich Obsen)

"This book answers the need for a contextual, long-term and interpretative analysis of risk from original sources. Risk has historically been a way of imagining what could happen in the future based on expert theories and predictions. This book explores this notion of 'managing the future' by tracing the conceptual development of risk from its origin in Islamic Koranic theology. It follows its long voyage from mercantile law in Medieval Mediterranean to the mathematical invention of probability in games of chance; from the birth of journalism in Britain with Defoe's Journal of the Plague Year to the earthquake of Lisbon in 1755 and the subsequent controversy between apocalyptic believers and enlightened philosophers. Tracking the growth and evolution of risk as a concept across various historical periods and events, Mairal highlights four key features of risk- time, knowledge, relationship and probability- and argues that risk is not based on perception as it is generally presented, but rather on knowledge accrued and developed over a vast historical timeframe. A Pre-Modern Cultural History of Risk will be of great interest to students and scholars of risk management."