Details

Rogues of Wall Street


Rogues of Wall Street

How to Manage Risk in the Cognitive Era
1. Aufl.

von: Andrew Waxman

32,99 €

Verlag: Wiley
Format: EPUB
Veröffentl.: 07.04.2017
ISBN/EAN: 9781119380153
Sprache: englisch
Anzahl Seiten: 240

DRM-geschütztes eBook, Sie benötigen z.B. Adobe Digital Editions und eine Adobe ID zum Lesen.

Beschreibungen

<b>Reduce or prevent risk failure losses with new and emerging technologies</b> <p><i>Rogues of Wall Street</i> analyzes the recent risk failures and errors that have overwhelmed Wall Street for the past decade. Written by a veteran risk, compliance, and governance specialist, this book helps bank leaders and consultants identify the tools they need to effectively manage operational risk. Citing different types of risk events such as: Rogue and Insider Trading, cyber security, AML, the Mortgage Crisis, and other major events, chapters in the first half of the book detail each operational risk type along with its causative and contributing factors. The second half of the book takes an overarching approach to the tools and solutions available to financial institutions to manage such events in the future. From technology, to culture, to governance, and more, this book does more than simply identify the problem—it provides real-world solutions with actionable insight.</p> <p>Expert discussion identifies the tools financial institutions have at their disposal, and how these tools can be leveraged to create an environment in which catastrophic events are prevented or mitigated. In-depth insight from an industry specialist provides thought-provoking guidance for leaders seeking more effective risk management, and specifically addresses how to:</p> <ul> <li>Analyze major operational risk incidents and their underlying causes</li> <li>Investigate the tools that allow organizations to prevent and mitigate catastrophic events</li> <li>Learn how culture and governance can be optimized to support effective risk management</li> <li>Identify ways in which cognitive technologies could help your firm avoid losses</li> </ul> <p>Cognitive technologies have the potential to revolutionize the way business is done; eliminating the speed/cost/quality trade-off, these new and emerging tools are heralding the next leap in the evolution of risk management. <i>Rogues of </i><i>Wall Street</i> shows you how bring these tools into your organization, and how they can contribute to your financial success.</p>
<p>Introduction: A Risky Business ix</p> <p>Acknowledgments xvii</p> <p>About the Author xix</p> <p>1 The Historical Context 1</p> <p>2 The Rogue Trader 7</p> <p>3 Genius Traders: Who They Are and How to Catch Them 19</p> <p>4 Insider Trading 27</p> <p>5 Price Manipulation Risk: The Big Unknown 37</p> <p>6 The Mortgage Mess 45</p> <p>7 Ponzi Schemes and Snake Oil Salesmen 53</p> <p>8 Rogue Computer 63</p> <p>9 Funding the Bad Guys—Winning the AML Battle 73</p> <p>10 Litigation and Big Data Risk 85</p> <p>11 Twitter Risk and Fake News Risk 91</p> <p>12 Spreadsheet Risk: Should We Ban Excel? 95</p> <p>13 Acts of God Risk 99</p> <p>14 Cybersecurity— The Threat from Outside and Inside the Firewall 101</p> <p>15 Turning the Tables on Risk 107</p> <p>16 Building the Right Culture: Values, Organization, and Culture 113</p> <p>17 The 360-Degree Risk Management Function 123</p> <p>18 What We Talk about When We Talk about Risk 137</p> <p>19 The Future Is Unknowable, the Present Burdensome; Only the Past Can Be Understood 147</p> <p>20 The New Tools of the Trade 159</p> <p>21 Cognitive Technologies 169</p> <p>22 The Role of Government and Regulators in Managing Risk 177</p> <p>23 Case Studies and Guiding Principles in Planning for Disaster 185</p> <p>24 The Risk Management Society and Its Friends 191</p> <p>25 Conclusion: Seven Traits for Successfully Managing Cognitive Risk 203</p> <p>Index 207</p>
<p><b>ANDREW WAXMAN</b> is an associate partner in IBM's Financial Services Risk and Compliance consulting practice with over 20 years of experience, in the United States and the United Kingdom, helping financial services organizations manage complex business issues. Andrew has written on risk and banking issues in industry journals, such as <i>American Banker</i> and <i>Wall Street and Technology</i>, for many years.
<p><b>PRAISE FOR ROGUES OF WALL STREET</b> <p>"Andrew Waxman digs deep into some of the pitfalls of risk-taking, going beyond the financial crisis to provide a comprehensive look at threats faced by the modern banker."<br> <b>—JOE ADLER,</b> Editor, BankThink Blog <p>"Important and timely. Waxman shows how easily banks' defenses can be breached by skilled and resourceful rogues."<br> <b>—BEN M<small>C</small>LANNAHAN,</b> US Banking Editor, <i>Financial Times</i> <p>"Waxman's book is a thorough and expert assessment of the threats faced by risk managers on Wall Street today. His analysis also provides a very useful guide to how to prevent and avoid them in the future."<br> <b>—SANNY MAKKI,</b> Vice President, IBM Global Business Services, Banking and Capital Markets <p><b>FILL THE HOLES IN YOUR RISK MANAGEMENT STRATEGY WITH THE LATEST COGNITIVE TECHNOLOGIES</b> <p><i>Rogues of Wall Street</i> is the must-have guide for bank leaders and consultants who need the latest tools and techniques for managing operational risk in the complexities of today's digital processes and regulations. Banking institutions must protect themselves from a diverse variety of events putting their operations at risk, and this comprehensive resource offers high-level insight and on-the-ground solutions to collecting and analyzing the proper data to pick up on irregularities and promote a workplace culture that thrives on and rewards above-the-board ethics. This single resource enables you to: <ul> <li>Enhance your real-world practice with relevant analysis of the most recent major operational risk incidents, including what caused them and how best to prevent them</li> <li>Optimize your institution's culture and governance to empower your risk management program</li> <li>Save time and money by understanding which cognitive technologies can be used to avoid losses and where to use them</li> </ul> <p><i>Rogues of Wall Street</i> is your complete source for authoritative guidance and actionable advice.

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