Average Reviews:
(More customer reviews)This is a much expected book in the operational risk area. I have got one as soon as it was released and I am getting more impressed with it every day as I try the models suggested by the author. The book is composed by a coherent sequence of mathematical models and techniques (all nicely explained with examples and extremely well-written)that at the end help you to measure and manage operational risk in practice. All the examples use real loss data and key risk indicators.
It is hard to identify the best part of the book. The chapters on causal models and stress tests are just a prime in the area as much as those on operational VaR. The text on stochastic models left me asking "why didn't I think of that before?". The chapters on the measurement of "soft risks" as those on reputational and key personnel risks are the first that I have seen on the subject and give an excellent insight on how to deal with this extremely difficult subject. This book should be on the shelf of any financial risk manager and it will set up the standards in the area for the next years. Operational risk finally find its "riskmetrics". As much as one day 'riskmetrics', 'creditmetrics' and CreditRisk+ were released by JP Morgan and CSFB setting up the grounds for the development of the both market and credit risk measurement, this book do the same for operational risk. At least everyone involved with operational risk should have it if not for anything just as a reference.
Click Here to see more reviews about: Modeling, Measuring and Hedging Operational Risk
Click here for more information about Modeling, Measuring and Hedging Operational Risk
0 comments:
Post a Comment