Implementing Systems Solutions for Financial Risk Management

Author: Robert Scott Levine
Publisher: Risk Books
ISBN: 9781904339731
Published In: February 2007
Format: Paperback
Jurisdiction: International ? Disclaimer:
Countri(es) stated herein are used as reference only

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Contents
Author

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Based on primary research demonstrating real-world ’tricks of the trade’, this is a working manual geared for risk practitioners to implement an effective risk architecture. It clearly shows how systems have been implemented in practice, where things have gone wrong and where successes have been achieved.

It is increasingly difficult to measure and manage financial risks without some degree of automation and systems support. Companies are now demanding an ’engine’ to determine and report true risk exposure that also has the ability to access, integrate, cleanse, store, and analyse the large amounts of data needed to do this.. In addition, regulatory requirements such as Sarbanes-Oxley and Basel II point towards systems as key to managing risks in a consistent, traceable manner. Consequently, spending on risk technology is significant and growing.

Nevertheless, many risk technology implementations fail to some degree. This failure is not simply down to a lack of risk methodologies or an absence of robust risk systems solutions, but tends to be due to implementation issues.

The expertise, background, tools and methods needed to successfully implement a risk architecture are different to those required to deploy other financial systems such as accounting packages. This book provides you with both the functional and process background to accomplish this, as well as an experienced practitioner’s view on overcoming implementation challenges.

The author’s extensive contacts with major risk solutions vendors, users, and consultancies are leveraged to present the leading concepts and trends in risk architecture. Finally, the author does not ignore the people side of risk architecture, using his experience with hiring and managing project teams to describe the ’right’ type of people needed in the various stages of a risk architecture rollout programme.

Chapter 1: The Challenge

Chapter 2: What is Risk Management and Measurement?

Chapter 3: Functional Requirements for a Risk Management Solution

Chapter 4: Technology Requirements and the Requirements Process

Chapter 5: Availability Checking and Violations Workflow

Chapter 6: Sourcing and Capture of Static Data

Chapter 7 Sourcing and Capture of Dynamic Transactional Data

Chapter 8: Sourcing and Capture of Dynamic Market, Credit and Operational Data

Chapter 9: The Importance of Configuration

Chapter 10: Data Modelling and Management

Chapter 11: Data Quality

Chapter 12: Querying and Reporting

Chapter 13: Technology Design

Chapter 14: The Development Process

Chapter 15: Evaluating Vendor Solutions

Chapter 16: Support Requirements and Staffing

Chapter 17: The Implementation Process

Chapter 18: The Future of Risk Architecture

Appendix: Risk Infrastructure Resources

Robert Scott Levine

Robert Scott Levine is a finance and risk consultant and writer currently focusing on trading risk systems deployments, risk infrastructure design, and building assurance and oversight processes.

Before becoming a consultant Robert was a vice president in charge of information protection at Bank of Tokyo-Mitsubishi North America. Prior to that he has worked with risk, trading, and financial systems design, control, and implementation at Reuters Limited in New York, London, and Tel Aviv. Robert has also held audit management and senior staff positions at Deutsche Bank North America, Barclays Bank Plc, and other large financial institutions.

Robert has been working on the development and roll-out of the next-generation WealthDefender^TM model and application for goal-based risk measurement and optimization of individual investment portfolios and financial plans.

Robert Scott Levine holds a PD in Information Systems from University of California, Berkeley, a Doctorate in Finance from SMC University, an MBA in Business Administration & Computer Methodology from Baruch College, City University of New York, and a BS in Economics from New York University.