December 14-16, 2021 Managing Financial Risk


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This course provides an in-depth examination of best practices as they
relate to risk management for companies engaged in trading and
commercial hedging. Particular emphasis is placed on major corporate risk
factors that could bankrupt or severely damage companies that trade and
hedge. Although the primary emphasis is placed on price risk
management, measurement and mitigation, our offering also covers
operational risk, liquidity risk, systemic and credit risk.

Topics covered include:

How to establish a corporate risk policy
Implementation of broad-based and specific trading controls to mitigate
operational risk
Outright price risk, correlation risk and optionality risk
Designing a robust risk management program
Determining hedge objectives and strategies
Implementation of a daily mark-to-market
The pros and cons of various VaR models and stress testing techniques
Hedge implementation, monitoring and adjustment
Weissman’s Risk Management Pyramid
How statistical theories relate to Value-at-Risk calculations
How non-normal distributions such as skewness and kurtosis impact
VaR calculations
Extreme Value Theory and GARCH
Modeling for liquidity risk
Measurement, management and mitigation of credit risk including CVaR,
KMV, Z-Score and the ratings agency approach


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