By Evgueni Ivantsov
In the wake of the worldwide monetary situation, Heads or Tails solutions the query: what alterations may still monetary associations endure to make sure trustworthy defense opposed to severe risks?
Recent huge mess ups between huge and revered monetary associations, in actual fact reveal that modern possibility administration and legislation fail to supply sufficient responses to the demanding situations set through severe risks.
Dr Evgueni Ivantsov combines research of the character of maximum threat (so-called tail risk), probability administration practices and functional strategies to construct a powerful, enterprise-wide, severe chance administration framework inclusive of 3 traces of defence, starting from strategic to tactical, designed to assist handle the tail probability in the course of diversified levels of its development.
The writer additionally discusses:
• Why smooth ‘sophisticated’ chance administration frameworks, powerful capitalisation and liquidity don't hinder banks from failure within the face of systemic hindrance;
• What it capacity to construct a good defence opposed to systemic and catastrophic losses;
• What chance structure should still seem like to make sure that severe danger occasions are pointed out early and successfully mitigated;
• How sleek administration practices, law and chance and company tradition have to switch to assure sustainability.
While the context of Dr Ivantsov’s writing is monetary providers, the ebook includes an enormous message for experts from any industries uncovered to the extraordinary dangers (oil/gas, power, mining, chemical productions, transportation, etc.).
Until the shortcomings of present probability administration and law are resolved, monetary companies and different in danger industries will repeat the painful error of the prior, persistently again.
Read Online or Download Heads or Tails: Financial Disaster, Risk Management and Survival Strategy in the World of Extreme Risk PDF
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Heads or Tails: Financial Disaster, Risk Management and Survival Strategy in the World of Extreme Risk by Evgueni Ivantsov