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Crisis Wasted?: Leading Risk Managers on Risk Culture

Crisis Wasted?: Leading Risk Managers on Risk Culture

Frances Cowell, Matthew Levins

ISBN: 978-1-119-11588-5 October 2015 392 Pages


Effective risk management in today’s ever-changing world

Crisis Wasted? Leading Risk Managers on Risk Culture sheds light on today’s risk management landscape through a unique collection of interviews from risk leaders in both the banking and investment industries. These interviews zero in on the risk culture of organisations, effective risk management in practice, and the sometimes paradoxical effects of new regulations and how they affect decision-making in financial organisations They offer genuine insight into regulatory processes and priorities and their implications for the stability of the global financial system. As trending topics in the risk management field, each of these subject areas is relevant to the work of today’s risk management professionals. In addition to the forward-focused text, this reference provides access to a wealth of premium online content.

Risk management has become an area of focus for companies since the financial crises that shook the international community over the past decade, but, despite high levels of introspection and changes to key processes, many financial houses are still experiencing large losses. Understanding today’s risk environment can help you improve risk management tactics.

  • Access essential information both in print and online
  • Discover the most important topics in today’s risk management field
  • Explore interviews with 1 risk management leaders
  • Learn about ground-breaking recent innovations in risk management thinking

Crisis Wasted? Leading Risk Managers on Risk Culture is an integral resource for professionals responsible for minimising organisational risk, as well as those who want to better understand the risk culture of today’s world.

Preface ix

Acknowledgements xvii

About the Authors xix

Chapter 1 Setting the Scene 1

Chapter 2 Background 7

Chapter 3 Sir Michael Hintze 37

Chapter 4 John Breit 59

Chapter 5 Bill Muysken 85

Chapter 6 Hugo B¨anziger 103

Chapter 7 Carol Alexander 119

Chapter 8 Mark Lawrence 141

Chapter 9 Paul Bostok 181

Chapter 10 Todd Groome 205

Chapter 11 Richard Meddings 227

Chapter 12 Adrian Blundell-Wignall 259

Chapter 13 Innovations 279

Chapter 14 Interpretation 295

Appendix A Risk Silos 309

Appendix B The Mechanics of Selected Financial Products 313

Appendix C Basel I, II and III – Risk Weightings 321

Glossary of Terms 323

Glossary of People 347

Further Reading 353

Bibliography 361

Index 367