Risk Management for Asset Managers
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The management of risk has become a major core concern for Asset Managers. Not only due to the enormous increase in regulatory focus in this area via regulation such as Basel III and Solvency II, but also due to the very real nature of the changing landscape of the markets. Zero interest rate policies, quantitative easing and the exiting of core market making activities by banks and the like, has created a new investment landscape. One which requires careful and considered risk management across all risks in a “joined-up” and coherent fashion, so as to reduce the pit-falls of “silo mentality” and gaps between responsibilities across portfolio managers, risk management, operations, controllers and internal audit. The challenge is to build a robust risk management framework which not only satisfies the demands of Regulation and NonExecutive Directors, but that also delivers a real and effective process which enhances the business and protects it against most threats. This course is designed to highlight the potential problems with current risk management set-ups and suggest new approaches and ways to minimise the dangers of getting it wrong. The focus of this course will be the understanding and management of risk for the Asset Management business itself rather than specifically the portfolios that they run on behalf of clients, although this does of course remain a major consideration.
This course highlights the numerous problems with current risk management set-ups and suggests new approaches and ways to minimise the dangers of getting it wrong.
TOPICS ADDRESSED IN A PRACTICAL CONTEXT INCLUDE:
- Understanding the new risk management framework
- Defining risk management structures
- Getting to grips with the different types of risk asset managers are facing
- Understanding traditional risk management metrics and their limitations
- Practical approaches for managing market risk
- Dealing with the impact of liquidity risk
- Understanding credit and counterparty risk
How You Will Learn
Packed with case studies, discussion sessions and practical sessions, this course will give you new, practical approaches for the asset management business
Case studies, discussion & practical sessions include: When Asset Managers get it wrong; Understanding the interdependence of risks; Calculating the “fair-value” for a credit hedge; Operational risk failures in Asset Managers – the fallout from Lehman; Lloyds’ precipice bonds