The Risk Controllers
Download The Risk Controllers PDF/ePub or read online books in Mobi eBooks. Click Download or Read Online button to get The Risk Controllers book now. This website allows unlimited access to, at the time of writing, more than 1.5 million titles, including hundreds of thousands of titles in various foreign languages.
The Risk Controllers
Clearing houses, or CCPs, were among the very few organisations to emerge from the global financial crisis with their standing enhanced. In the chaotic aftermath of the bankruptcy of Lehman Brothers, they successfully completed trades worth trillions of dollars in a multitude of financial instruments across listed and over-the-counter markets, and so helped avert financial Armageddon. That success transformed the business of clearing. Governments and regulators around the world gave CCPs and the clearing services they provide a front-line role in protecting the global economy from future excesses of finance. CCPs, which mitigate risk in financial markets, responded by greatly expanding their activities, notably in markets for over-the-counter derivatives, and often in fierce competition with one another. In The Risk Controllers, journalist and author Peter Norman describes how CCPs operate, how they handled the Lehman default, and the challenges they now face. Because central counterparty clearing is a complex business with a long history that continues to influence decisions and structures even in today’s fast changing world, The Risk Controllers explores the development of CCPs and clearing from the earliest times to the present. It draws on the experiences of the people who helped to shape the business of clearing today. It sets the development of CCPs and clearing in the broader context of changes in society, politics and regulation. The book examines turning points, such as the 1987 stock market crash, that set clearing on a new path and the impact of long running trends, including the exponential growth of computer power and the ebb and flow of globalisation. Written in non-technical language, The Risk Controllers provides a unique and accessible guide to CCPs and clearing. It is essential reading for clearing professionals, legislators and regulators whose job it is to take this vitally important business into the future. “The recent crisis has, thankfully, renewed interest in the importance of central counterparties: how they can help preserve stability or, as Hong Kong showed in 1987, undermine stability if they are not super sound. Peter Norman’s book places the role of clearing houses in a historical context, and explains why the financial system’s plumbing matters so much. It should be read by anyone interested in building safer capital markets.” Paul Tucker, Deputy Governor Financial Stability, Bank of England
Intelligent Internal Control and Risk Management
This important book offers a way of improving the value of control and risk management by bringing creativity and design skills to the fore. It provides an arsenal of 60 high performance control mechanisms, including several alternative ways to design controls and control systems, controls for monitoring and audit, controls for accelerated learning, and techniques for finding and recovering cash. This design material is combined with insights into the psychology of risk control, strategies for encouraging helpful behaviour and enabling change, and a surprisingly simple integration of internal control with risk management. The material is not specific to any one country and has international appeal for internal auditors and all those concerned with risk management, corporate governance and security.
What on Earth Can Go Wrong
Richard Fenning has spent three decades advising multinational companies on volatile geopolitics and severe security crises. He was CEO of the British firm Control Risks for 14 years. His career coincided with the glory years of globalization, the rise of China, the tumult of the Middle East wars, a new vicious form of terrorism, the transforming impact of digital technology, and America's retreat from leadership. Offering him a rare insight into what happens when people and organizations come under enormous stress, it dispelled any illusions that the world is ordered, predictable, or fair. But amid the chaos and upheaval, he also found humanity and humor. In a whirlwind tour that takes us from the battlefields of Iraq to the back streets of Bogotà, from the steamy Niger delta to the chill of Putin's Moscow, he looks back with wit and insight on the people and places he has got to know, while also offering some timely thoughts about the relationship between risk and danger in a terrifyingly changeable world.