Title: Tail Risk Management: Building A Resilient Financial Business In A Volatile World
Publisher: Value4risk LLC
Publication Date: 2017
Language: English
ISBN 10: 0692879498
ISBN 13: 9780692879498
Binding: Paperback / softback
Condition: New
Weight: 346 grams

About this title

Synopsis

(This is the Black & White version of the book.)

Ever since the collapse of the Bretton Woods system and the deregulation of markets in the 1970-1980s, financial markets have exploded in terms of size, volatility, complexity, and interconnectedness (through globalization and technology). Concomitantly, the frequency and severity of banking crises have equally increased over the last decades.

Additionally, the banking regulations of the last decades have focussed a lot on quantitative risk models and probability theories claiming that uncertainty could be measured. However, the severity of the previous banking crisis (2007-2008) proves that disruptions are hard to quantify, and these quantitative risk tools were inadequate in achieving a better resilience of the banks.

In other words, large and well-respected financial institutions have experienced failure in the face of tail risks, revealing the inadequate protection provided by current practice. More than just capital management, tail risk management takes a qualitative approach that involves business strategy.

As such, although quantitative methods are used most often in risk assessment, their usefulness wanes in the realm of tail risk management. To effectively mitigate extreme risks and preserve a firm’s survivability, the focus must be on building a resilient business model.

Therefore, this book studies the possibility to enhance the existing risk management framework pertaining to business resilience within the banking industry. Indeed, the dynamic, complex nature of the banking environment necessitates ongoing vigilance to anticipate vulnerabilities, as well as organizational flexibility and agility when disruptions occur.

The objective of this book is to borrow risk management concepts from corporate industries that equally operate in extreme environments and transpose them to the banking industry, and see whether they could make the business models of banks more resilient.

In Tail Risk Management, author Pascal M. vander Straeten, a twenty-five-year financial services veteran and founder of consulting firm Value4Risk, pulls best practices from across industries to provide a new risk management framework.

These principles will guide a business toward necessary changes in modern management practices, regulations, and cultures that can be applied on an enterprise-wide basis, addressing extreme risks at any stage in their development.In the face of a systemic crisis, a resilient business model will provide strong lines of defense against failure.

Resilience nowadays is a crucial concern as, notwithstanding the vast array of banking regulations, market participants, as well as other stakeholders, remain wary about the stability of banking organizations.

Unquantifiable uncertainties will always exist, and traditional risk management approaches are not adequate. Using this extensive guide, learn what needs to change and why—and how to implement a potentially business-saving strategy.

About the Author

Pascal M. vander Straeten spent twenty-five years in the financial services industry, specializing in the field of financial risk management. Many of these years were spent overseas as an international senior executive, in cities such as New York, London, Rome, Madrid, Luxembourg, Munich, Brussels, and Paris.

In 2012, vander Straeten founded Value4Risk, a research and consulting firm, which expanded from its Canberra location into Dallas in 2015. Value4Risk provides training in extreme risk management within the modern realm of financial risk management and geopolitics.

Originally from Belgium, vander Straeten holds a master’s degree in applied economics from the University of Antwerp and an executive MBA from the University of Washington. He also holds a postgraduate degree in international relations from the University of Louvain. Fluent in five languages (Dutch, French, English, German, and Italian), he lives in Texas with his wife, Barbara.

"About this title" may belong to another edition of this title.

Store Description

The Saint Bookstore has a range of over 1 million titles available.

Visit Seller's Storefront

Seller's business information

SB ONLINE LTD
50 Devonshire Road, Southport, PR9 7BZ, United Kingdom

Sale & Shipping Terms

Terms of Sale

Please order through the Abebooks checkout. We only take orders through Abebooks - We don't take direct orders by email or phone.

Refunds or Returns: A full refund of the purchase price will be given if returned within 30 days in undamaged condition.

As a seller on abebooks we adhere to the terms explained at http://www.abebooks.co.uk/docs/HelpCentral/buyerIndex.shtml - if you require further assistance please email us at orders@thesaintbookstore.co.uk

Right of cancellation

If you are a consumer you can cancel the contract in accordance with the following. Consumer means any natural person who is acting for purposes which are outside his trade, business, craft or profession.

INFORMATION REGARDING THE RIGHT OF CANCELLATION

Statutory Right to cancel

You have the right to cancel this contract within 14 days without giving any reason.

The cancellation period will expire after 14 days from the day on which you acquire, or a third party other than the carrier and indicated by you acquires, physical possession of the the last good or the last lot or piece.

To exercise the right to cancel, you must inform us, THE SAINT BOOKSTORE, 50 Devonshire Road, PR9 7BZ, Southport, United Kingdom, 44 17042241479, of your decision to cancel this contract by a clear statement (e.g. a letter sent by post, fax or e-mail). You may use the attached model cancellation form, but it is not obligatory. You can also electronically fill in and submit a clear statement on our website, under "My Purchases" in "My Account". If you use this option, we will communicate to you an acknowledgement of receipt of such a cancellation on a durable medium (e.g. by e-mail) without delay.

To meet the cancellation deadline, it is sufficient for you to send your communication concerning your exercise of the right to cancel before the cancellation period has expired.

Effects of cancellation

If you cancel this contract, we will reimburse to you all payments received from you, including the costs of delivery (except for the supplementary costs arising if you chose a type of delivery other than the least expensive type of standard delivery offered by us).

We may make a deduction from the reimbursement for loss in value of any goods supplied, if the loss is the result of unnecessary handling by you.

We will make the reimbursement without undue delay, and not later than 14 days after the day on which we are informed about your decision to cancel with contract.

We will make the reimbursement using the same means of payment as you used for the initial transaction, unless you have expressly agreed otherwise; in any event, you will not incur any fees as a result of such reimbursement.

We may withhold reimbursement until we have received the goods back or you have supplied evidence of having sent back the goods, whichever is the earliest.

You shall send back the goods or hand them over to us or THE SAINT BOOKSTORE, 50 Devonshire Road, PR9 7BZ, Southport, United Kingdom, 44 17042241479, without undue delay and in any event not later than 14 days from the day on which you communicate your cancellation from this contract to us. The deadline is met if you send back the goods before the period of 14 days has expired. You will have to bear the direct cost of returning the goods. You are only liable for any diminished value of the goods resulting from the handling other than what is necessary to establish the nature, characteristics and functioning of the goods.

Exceptions to the right of cancellation

The right of cancellation does not apply to:

the delivery of newspapers, journals or magazines with the exception of subscription contracts; and
the supply of digital content (including ebooks) which is not supplied on a tangible medium (e.g. on a CD or DVD) if you accepted when you placed your order that we could start to deliver it, and that you could not cancel it once delivery had started.

Model withdrawal form

(complete and return this form only if you wish to withdraw from the contract)

To: (THE SAINT BOOKSTORE, 50 Devonshire Road, PR9 7BZ, Southport, United Kingdom, 44 17042241479)

I/We (*) hereby give notice that I/We (*) withdraw from my/our (*) contract of sale of the following goods (*)/for the provision of the following goods (*)/for the provision of the following service (*),

Ordered on (*)/received on (*)

Name of consumer(s)

Address of consumer(s)

Signature of consumer(s) (only if this form is notified on paper)

Date

* Delete as appropriate.

Shipping Terms

Most orders usually ship within 1-3 business days, but some can take up to 7 days.

Shipping rates from United Kingdom to U.S.A.

Shipping rates from United Kingdom to U.S.A.
Order quantity	7 to 28 business days	7 to 28 business days
First item	� 14.21	� 16.21

Delivery times are set by sellers and vary by carrier and location. Orders passing through Customs may face delays and buyers are responsible for any associated duties or fees. Sellers may contact you regarding additional charges to cover any increased costs to ship your items.