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This comprehensive, yet accessible, guide to enterprise risk management for financial institutions contains all the tools needed to build and maintain an ERM framework. It discusses the internal and external contexts with which risk management must be carried out, and it covers a range of qualitative and quantitative techniques that can be used to identify, model and measure risks. This new edition has been thoroughly updated to reflect new legislation and the creation of the Financial Conduct Authority and the Prudential Regulation Authority. It includes new content on Bayesian networks, expanded coverage of Basel III, a revised treatment of operational risk and a fully revised index. Over 100 diagrams are used to illustrate the range of approaches available, and risk management issues are highlighted with numerous case studies. This book also forms part of the core reading for the UK actuarial profession's specialist technical examination in enterprise risk management, ST9.
This book looks at the history and future of the UK State Pension. It explores the affordability of this benefit, and challenges the idea that the State Pension Age should be the main tool for controlling costs. Instead, it examines the concept of means-testing, showing how the State Pension can be made more affordable whilst remaining equitable.
The first scholarly book on John Hughes examines Hollywood's complex relationship with genre, the role of the auteur in commercial cinema, and the legacy of favorites such as Sixteen Candles and Ferris Bueller's Day Off.
Looking at the entire spectrum of financial services risk management, this practical guide identifies the key current issues and the solutions adopted by firms.
A wide range of topics give students a firm foundation in statistical and actuarial concepts and their applications.
This practical introduction outlines methods for analysing actuarial and financial risk at a fairly elementary mathematical level suitable for graduate students, actuaries and other analysts in the industry who could use simulation as a problem solver. Numerous exercises with R-code illustrate the text.
This must-have manual provides detailed solutions to all of the 300 exercises in Dickson, Hardy and Waters' Actuarial Mathematics for Life Contingent Risks, 3 edition. This groundbreaking text on the modern mathematics of life insurance is required reading for the Society of Actuaries' (SOA) LTAM Exam. The new edition treats a wide range of newer insurance contracts such as critical illness and long-term care insurance; pension valuation material has been expanded; and two new chapters have been added on developing models from mortality data and on changing mortality. Beyond professional examinations, the textbook and solutions manual offer readers the opportunity to develop insight and understanding through guided hands-on work, and also offer practical advice for solving problems using straightforward, intuitive numerical methods. Companion Excel spreadsheets illustrating these techniques are available for free download.
This is a single comprehensive reference source covering the key material on this subject, and describing both theoretical and practical aspects.