Crisis Wasted? Leading Risk Managers on Risk Culture
Co-authored with Matthew Levins
Wiley, 2015
In conversation, ten global thought-leaders give their take on where regulation and risk management in the financial services sector are headed.
Crisis Wasted? spotlights pressing issues such as the social responsibilities of financial organisations that enjoy publicly funded guarantees and how well governments protect the public interest.
“It is far from clear to me that the system is safer for all the regulation”
Sir Michael Hintze
“No one loses money because of statistics,
you lose money because you do stupid things.”
John Breit
Senior decision-makers will value thought-provoking material about governance, the responsibilities of directors, the purpose of risk management, complexity and advanced technology, the effects of personalities on key decisions and the sometimes perverse effects of regulations, such as gaming of rules and herd behaviour.
“Listen in” to conversations with leaders representing global banks and investment banks, asset managers, hedge funds and supra-national organisations, including the IMF and the OECD. Each conversation presents genuinely unique material from its own “birds-eye view” of the inner workings of financial corporations and supervisors.
Set against the backdrop of recent regulatory change, the authors apply common-sense and their own extensive risk management experience to give a readable account of what is important to get right in managing risk and embedding an effective risk culture.
Directors, regulators, policy-makers and anyone concerned about governance issues will find Crisis Wasted? a ready guide that equips them to pose well-informed challenges to financial organisations and their regulators.
Risk-based Investment Management in Practice
Palgrave, 2013
This book gives a readable and intuitive account of the issues that affect how investment decisions are taken by professional investment managers. Non-investment professionals will find the book accessible and easy to read.
Particular attention is given to de-mystifying the practical challenges of investment risk management – and why it is different from other kinds of risk management. This section describes in everyday language the way investment risk models work – and sometimes don’t work. It explains what investment risk reports actually tell you about the portfolio’s vulnerabilities – and what they don’t tell you.
Attention to what value derivatives can contribute to investment outcomes and how and why they can unravel. Risk-oriented performance analysis helps disentangle performance that is due to genuine skill from outcomes that are just lucky.
The portfolio selection process is broken down to its components to illustrate how each affects the others and these interactions affect the risk and ultimately the returns to professionally managed investments. Buy on Amazon
Quantitative Investment Management with Derivatives
Palgrave, 2002
The book is divided into three sections plus detailed appendices and glossary and accompanying CD-ROM. The first section provides a description of the investment management process providing a context for quantitative techniques. Section 2 addresses different quantitative techniques as applied to investment management. Each chapter explains the techniques, the theoretical basis, the use of derivatives and other technology, implementation and management and the role of the custodian. Section 3 brings together issues such as currency management, performance measurement and appraisal and performance analysis. The accompanying CD-ROM contains spreadsheets in EXCEL giving examples used in the body of the text. Each example is cross-referenced for easy access. Buy on Amazon
Other Publications
- Dialogue article titled The Risk Fallacy. February 2016.
- The Hedge Fund Journal article titled Diversity and Fragility in the Global Financial System. November 2015.
- Cuffelinks article titled Good Risk Management and How to Recognise It. November 2015.
- Crisis Wasted? Leading Risk Managers on Risk Culture, co-authored with Matthew Levins, published by Wiley, Chichester 2015.
- Risk-Based Investment Management in Practice, published by Palgrave, Basingstoke 2013.
- Alternative Intelligence Quotient article titled Hedge Funds: A Risk Manager’s Perspective. May 2010.
- Professional Investor article titled Fine-tuning the Risk-management Model. Autumn 2009.
- Derivatives Use, Trading & Regulation article titled Risk Management for Derivatives. November 2006.
- Pensions: An International Journal article titled Adding Value to Pensions Portfolios through Effective Risk Management and Hedging. May 2006.
- Practical Quantitative Investment Management, published by Palgrave, Basingstoke 2001.
- Contributions to other professional periodicals and monologues.