Managing Extreme Financial Risk
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Managing Extreme Financial Risk : Strategies and Tactics for Going Concerns

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Managing Extreme Financial Risk addresses the need for better management strategies in light of increased market risk and volatility in financial institutions' revenue models. Top officials from the financial and regulatory industries point to real corporate issues, showing how institutions react to financial crises. From first-hand experiences, they explain how effective sustainability management does not just prevent being blindsided; it also leads to proactive solutions that enhance an institution's strength to weather a sudden financial crisis, add significant shareholder value, and reduce systemic risk. Readable, coherent, and logical, Managing Extreme Financial Risk shows how extreme risk needs to be handled when the cost of being wrong means the difference between life and death of the institution.
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Product details

  • Paperback | 172 pages
  • 149.86 x 226.06 x 12.7mm | 249.47g
  • Academic Press Inc
  • San Diego, United States
  • English
  • Reprint
  • 0124172210
  • 9780124172210
  • 2,161,760

Table of contents

Sustainability Management is Critical
Tail Risk As The Culprit
Need For A Distinct Focus on Tail Risk
Sole Focus on Risk Management Can Be Dangerous
Usefulness and Limits of Quant Models
If You Can't Measure It, You Can't Manage It
Simplicity to Counter Complexity of Revenue Models
A New Measure For Effective Sustainability Management
Continuous Readiness is Critical
Effective Sustainability Management
Paradoxical Capital Problem
Capital As The Last Defense vs. the First Defense
Sustainability Management, Systemic Risk & Regulatory Supervision
Convergence of Regulatory Objectives and Institutional Interests
Telling Your Story Effectively To Alleviate Marketplace Anxiety
Sustainability Management And Risk Governance
From The Bane of Revenue Model To A Competitive Advantage
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Review Text

"...develops a simple but still effective framework for handling extreme financial risk. The introduction of the PMLmeasure enables companies to easily incorporate tail risk in their regular risk management and thereby positively contribute to their long-term survival chances." -- Financial Markets and Portfolio Management, Managing Extreme Financial Risk

"...develops a simple but still effective framework for handling extreme financial risk.focuses on a broad and holistic understanding of the concept rather than on a detailed implementation and problem discussion."-- Financial Markets and Portfolio Management, Managing Extreme Financial Risk

"When it comes to the tail risk, Karamjeet Paul encourages senior management to shelve quantitative models and address capital sustainability instead. The book has implications for market participants who work with such unknowns as 99.5%-iles of a deal or portfolio profit and loss distributions." - Sergei Esipov, Quant-Isle

"Karamjeet Paul makes a convincing case for addressing the fundamental issue of 'tail risk' to protect financial institutions and the financial system. Despite all the talk to 'do something' following the 2008 crisis, the impact of tail risk has not been addressed. Managing Extreme Financial Risk should be required reading for regulators, board members, CEOs and CFOs of large financial institutions." -Vashishta Bhaskar, Duquesne University

"My first impression when I came across Mr. Paul's book was that it was probably yet one more book by a consultant providing simplistic and not very insightful advice. I was wrong. Mr. Paul is clearly someone who totally understands the dimensions of risk confronting financial institutions, and has thought deeply about it. His message: the only way to survive the next crisis, which can't be predicted, is to know your extreme-tail risk now and manage it proactively. Drawing on extensive experience (including 14 years at Citicorp where he was once CFO of its global investment bank and where he developed the interest-rate-gap management approach), Mr. Paul eloquently lays out in plain English, free of technical jargon, a new approach to managing extreme-tail risk. Supplemented by real-life stories and analogies, it's an original and easy read for directors, senior managers and regulators." - Lawrence Baxter, William B. McGuire Professor of the Practice of Law at Duke University
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Review quote

"...develops a simple but still effective framework for handling extreme financial risk. The introduction of the PMLmeasure enables companies to easily incorporate tail risk in their regular risk management and thereby positively contribute to their long-term survival chances." --Financial Markets and Portfolio Management, Managing Extreme Financial Risk

"...develops a simple but still effective framework for handling extreme financial risk...focuses on a broad and holistic understanding of the concept rather than on a detailed implementation and problem discussion."--Financial Markets and Portfolio Management, Managing Extreme Financial Risk

"When it comes to the tail risk, Karamjeet Paul encourages senior management to shelve quantitative models and address capital sustainability instead. The book has implications for market participants who work with such unknowns as 99.5%-iles of a deal or portfolio profit and loss distributions." - Sergei Esipov, Quant-Isle

"Karamjeet Paul makes a convincing case for addressing the fundamental issue of 'tail risk' to protect financial institutions and the financial system. Despite all the talk to 'do something' following the 2008 crisis, the impact of tail risk has not been addressed. Managing Extreme Financial Risk should be required reading for regulators, board members, CEOs and CFOs of large financial institutions." -Vashishta Bhaskar, Duquesne University

"My first impression when I came across Mr. Paul's book was that it was probably yet one more book by a consultant providing simplistic and not very insightful advice. I was wrong. Mr. Paul is clearly someone who totally understands the dimensions of risk confronting financial institutions, and has thought deeply about it. His message: the only way to survive the next crisis, which can't be predicted, is to know your extreme-tail risk now and manage it proactively. Drawing on extensive experience (including 14 years at Citicorp where he was once CFO of its global investment bank and where he developed the interest-rate-gap management approach), Mr. Paul eloquently lays out in plain English, free of technical jargon, a new approach to managing extreme-tail risk. Supplemented by real-life stories and analogies, it's an original and easy read for directors, senior managers and regulators." - Lawrence Baxter, William B. McGuire Professor of the Practice of Law at Duke University
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About Karamjeet Paul

Karamjeet Paul has over 30 years of operating, finance, treasury, and exposure managment experience, giving him unique expertise in identifying and addressing critical risk-exposure-reward and other strategic issues at the highest levels in large organizations. Mr. Paul's perspective has been gleaned from hands-on experience in large global organizations, startups in entrepreneurial settings, and consulting assignments.
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