Condamin / Louisot / Naïm Risk Quantification

Management, Diagnosis and Hedging
1. Auflage 2007
ISBN: 978-0-470-06043-8
Verlag: John Wiley & Sons
Format: PDF
Kopierschutz: Adobe DRM (»Systemvoraussetzungen)

E-Book, Englisch, 286 Seiten, E-Book

Reihe: Wiley Finance

This book offers a practical answer for the non-mathematicianto all the questions any businessman always wanted to ask aboutrisk quantification, and never dare to ask.
Enterprise-wide risk management (ERM) is a key issue for boardof directors worldwide. Its proper implementation ensurestransparent governance with all stakeholders' interestsintegrated into the strategic equation. Furthermore, Riskquantification is the cornerstone of effective risk management,atthe strategic and tactical level, covering finance as well asethics considerations. Both downside and upside risks (threats& opportunities) must be assessed to select the most efficientrisk control measures and to set up efficient risk financingmechanisms. Only thus will an optimum return on capital and areliable protection against bankruptcy be ensured, i.e. long termsustainable development.
Within the ERM framework, each individual operational entity iscalled upon to control its own risks, within the guidelines set upby the board of directors, whereas the risk financing strategy isdeveloped and implemented at the corporate level to optimise thebalance between threats and opportunities, systematic and nonsystematic risks.
This book is designed to equip each board member, eachexecutives and each field manager, with the tool box enabling themto quantify the risks within his/her jurisdiction to all the extendpossible and thus make sound, rational and justifiable decisions,while recognising the limits of the exercise. Beyond traditionalprobability analysis, used since the 18th Century by theinsurance community, it offers insight into new developments likeBayesian expert networks, Monte-Carlo simulation, etc. withpractical illustrations on how to implement them within the threesteps of risk management, diagnostic, treatment and audit.
With a foreword by Catherine Veret and an introduction by KevinKnight.

Autoren/Hrsg.

Condamin, Laurent

Louisot, Jean-Paul

Naïm, Patrick

Über Autor(innen)

LAURENT CONDAMIN is engineer of the French Grande Ecole"Ecole Centrale de Paris", PhD in Applied Mathematicsand Associate in Risk Management (Insurance Institute of America).He is currently partner and managing director of Elseware where hemakes consultancy on risk modelling in top leading companies.
JEAN-PAUL LOUISOT is a civil engineer, Master inEconomics, Master in Business Administration (Kellog, 1972) andAssociate in Risk Management. He has spent more than thirty yearsof his career to service private and public entities helping themmanage their risks and coach their risk managers and executives. Asdirector for the CARM_institute, Ltd, he is in charge of theprofessional designations ARM and EFARM. As a Professor atPanthéon/Sorbonne University, he teaches a postgraduate coursein Risk Management. Jean-Paul teaches also in various EngineeringSchools and MBA programs. Previous publications include ExposureDiagnostic (AFNOR - 2004) and 100 Questions tounderstand Risk Management (AFNOR - 2005).
PATRICK NAIM graduated from Ecole Centrale de Paris, andAssociate in Risk Management (ARM). He is the founder and CEO ofElseware, a consulting company specialising in quantitativemodelling and risk quantification. He also teaches data modellingand Bayesian Networks in several universities and engineeringschools in France. He is author of several books in the field ofquantitative modelling.