- Hardcover: 652 pages
- Publisher: Palgrave Macmillan; 2014 edition (6 Dec. 2013)
- Language: English
- ISBN-10: 1137371633
- ISBN-13: 978-1137371638
- Product Dimensions: 16 x 3.7 x 28.3 cm
- Amazon Bestsellers Rank: 1,574,962 in Books (See Top 100 in Books)
- See Complete Table of Contents
Models at Work: A Practitioner's Guide to Risk Management (Global Financial Markets) Hardcover – 6 Dec 2013
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An accessible but comprehensive guide to quantifying and managing risk in financial institutions
About the Author
Jawwad Ahmed Farid (Karachi, Pakistan) is a financial markets consultant and trainer, delivering tailored courses and solutions to a global base of clients that include Goldman Sachs, Merrill Lynch, Met Life, Nationwide, Sumitomo Mitsui Bank, Pacific Life, Fidelity Investments, Transamerica, GE Financial Assurance and Washington Mutual Bank. His expertise includes Asset/Risk Management, Investments, Product Development, Risk Models & the Financial Services Back Office. As an investment advisor Jawwad has advised a 3 billion US$ dollar life insurance fund in Pakistan on allocation and bid patterns for 10, 20 and 30 year Sovereign bonds, a 30 million dollar Middle East fund on ALM mismatch and fixed income strategy, a 10 million dollar employee benefit fund on asset allocation and equity market timing. He has also worked with the securities regulator and the Asian Development Bank on assessing the state of the corporate bond market as well as issued valuation opinions on cross currency swaps, interest rate swaps, caps, floors, participating forwards and contingent liabilities for Exchange Guarantee Funds in the region. He is a Fellow Society of Actuaries (Chicago), a MBA from Columbia Business School (New York City) and a computer science graduate.
Most Helpful Customer Reviews on Amazon.com (beta) (May include reviews from Early Reviewer Rewards Program)
Jawwad has a very humble and thoughtful approach that lets the reader know there are many ways one can introduce errors into models - and how to best avoid doing so. And for those who need to value non-standard assets (oil & gas, gold, energy, commodities etc.), Models at work is a resource like none other.
This book will become a fixture on every risk professional’s bookshelf.
1. What is the exposure?
2. What is the trend of the exposure?
3. What is the impact of the risk factors on an exposure?
4. What is the Risk Appetite?
And he applies these to jet fuel, palm oil, FX, wheat, corn, natural gas, crude oil, precious metals along with financial instruments such as bonds, stocks, insurance and pensions. MaW has 100 pages explaining Monte Carlo simulations. A very helpful technique. Farid is based in South Asia and works with businesses and professionals throughout the region and for many of those risk types, the data is not as available as it might be in US or Europe. So Monte Carlo modeling becomes more important to help to fill in the gaps.
Besides the step- by step descriptions of these processes, MaW also includes a colorful travelogue of the markets and pitfalls of modeling. In some ways, MaW reads like the best of cook books. It is not just the recipes, but the stories that make the book what it is.
Even though the target market is already naturally small for such a book, I am still surprised that this book is not more well-known. Highly recommended.
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