The challenges of the current financial environment have
revealed the need for a new generation of professionals who combine
training in traditional finance disciplines with an understanding
of sophisticated quantitative and analytical tools. Risk Management
and Simulation shows how simulation modeling and analysis can help
you solve risk management problems related to market, credit,
operational, business, and strategic risk. Simulation models and
methodologies offer an effective way to address many of these
problems and are easy for finance professionals to understand and
use. Drawing on the author s extensive teaching experience, this
accessible book walks you through the concepts, models, and
computational techniques.
How Simulation Models Can Help You Manage Risk More
Effectively
Organized into four parts, the book begins with the concepts and
framework for risk management. It then introduces the modeling and
computational techniques for solving risk management problems, from
model development, verification, and validation to designing
simulation experiments and conducting appropriate output analysis.
The third part of the book delves into specific issues of risk
management in a range of risk types. These include market risk,
equity risk, interest rate risk, commodity risk, currency risk,
credit risk, liquidity risk, and strategic, business, and
operational risks. The author also examines insurance as a
mechanism for risk management and risk transfer. The final part of
the book explores advanced concepts and techniques. The book
contains extensive review questions and detailed quantitative or
computational exercises in all chapters. Use of MATLAB(r)
mathematical software is encouraged and suggestions for MATLAB
functions are provided throughout.
Learn Step by Step, from Basic Concepts to More Complex
Models
Packed with applied examples and exercises, this book builds
from elementary models for risk to more sophisticated, dynamic
models for risks that evolve over time. A comprehensive
introduction to simulation modeling and analysis for risk
management, it gives you the tools to better assess and manage the
impact of risk in your organizations. The book can also serve as a
support reference for readers preparing for CFA exams, GARP FRM
exams, PRMIA PRM exams, and actuarial exams.
General
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