Risk management

Аннотация

Risk Management provides a comprehensive introduction to the subject. Presented within the framework of a financial institution, it covers the design and operation of a risk-management system, the technical modeling within that system, and the interplay between the internal oversight and the external regulatory components of the system. That its authors, Michel Crouhy, Dan Galai, and Robert Mark, are significant contributors to the science of finance, active practitioners of finance, and experienced teachers of finance is apparent from both its substance and form. The range of topics is broad but evidently carefully chosen for its applicability to practice. The mathematical models and methodology of risk management are presented rigorously, and they are seamlessly integrated with the empirical and clinical evidence on their applications. The book also patiently provides readers without an advanced mathematical background the essential analytical foundations of risk management.