Risk Management Technology in Financial Services: Risk Control, Stress Testing, Models, and IT Systems and Structures

  • 7h 13m
  • Dimitris N. Chorafas
  • Elsevier Science and Technology Books, Inc.
  • 2007

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 provides an in-depth discussion of the types of risk, stress analysis and the use of scenarios, mathematical models, and IT systems and infrastructure requirements.

  • Written in clear, straightforward style for financial industry executives to provide necessary information for risk control decision-making
  • Consistent with GARP, IFRS and IASB risk management processes and procedures
  • Explains stress testing and its place in risk control

About the Author

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.

In this Book

  • Innovation in Finance
  • What is Meant By Risk Management?
  • Complexity of Risk Control with Derivatives
  • Integrating Risk Management through an Enterprise Architecture
  • Case Studies on Big Product Problems that Went Unattended
  • A Methodology for Risk Management
  • The Contribution of Models to Experimentation
  • Simulation
  • Using Knowledge Engineering for Risk Control
  • Optimization through Genetic Algorithms
  • Testing, Backtesting, Post-Mortems and Experimental Methodology
  • Adding Value to Risk Control through IT and Organization
  • Technology for Time Management, High Frequency Financial Data and High Impact Events
  • Project Management for IT and Risk Control
  • Implementing Design Reviews
  • Quality, Reliability and Availability
  • Being in Charge of IT Costs