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Foundation of Risk Management Weight : 20% 课件编写:冯伟章
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C ONTENTS: Session 1: Framework of Risk Management 1. Risk Management: A Helicopter View ( ☆☆ ) 2. Corporate Risk Management: A Primer ( ) 3. Corporate Governance and Risk Management ( ☆☆ ) 4. What is ERM ( ☆☆☆ ) 5. Risk Management, Governance, Culture and Risk Taking in Banks ( ) 13. Principles for Effective Data Aggregation and Risk Reporting ( )
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C ONTENTS: Session 2: Portfolio Management 10. The Standard Capital Asset Pricing Model ( ☆☆☆ ) 11. Applying the CAPM to Performance Measurement ( ☆☆☆ ) 12. Arbitrage Pricing Theory and Multifactor Models of Risk and Return ( ☆☆☆ )
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C ONTENTS: Session 3: Risk Management Failures 6. Financial Disasters ( ☆☆☆ ) 7. Deciphering the Liquidity and Credit Crunch 2007-2008 ( ☆☆ ) 8. Getting Up to Speed on the Financial Crisis: A One-Weekend- Reader’s Guide ( ☆☆ ) 9. Risk Management Failures ( ) Session 4: Code of Conduct 14. GARP Code of Conduct ( ☆☆☆ )
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C ONTENTS: 课程特点与学习建议 : Ø 本门课程难度不高。 Ø 知识面牵涉比较广,概念比较多。 Ø 核心章节知识点逻辑性强。 Ø 听课与做题相结合,但并不建议“刷题”。 Ø 最重要的,认真、仔细的听课。
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Ready! Go!
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Risk Management: A Helicopter View Basics of Risk Management Tasks: Ø Compare risk management with risk taking. Ø Distinguish between expected loss and unexpected loss. Ø Describe the risk management process and identify problems and challenges that can arise in the risk management process.
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Basics of Risk Management Concepts of risk Ø Broadly speaking, risk is exposure to uncertainty . ü Uncertainty means it may be losses as well as gains in the future, it is a mix of danger and opportunity. LO: Explain ( )
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Basics of Risk Management Expected loss vs. unexpected loss Ø Expected loss: loss or cost we can expect in normal business or daily life . ü These losses are not big threats because they are reasonably predictable and are already allowed for in our plans, and are priced in the products and services to the customer. ü E.g.: bad debt, spread, etc. LO: Distinguish ( ☆☆ )
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Basics of Risk Management LO: Distinguish ( ☆☆ ) Expected loss vs. unexpected loss Ø Unexpected loss: loss or cost that occurs outside the normal business or daily life . ü Generally, it is much more difficult to forecast and evaluate, and price-in in advance due to the un- expectation involved. ü E.g.: some natural disaster, unflavored events happen together, etc.
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Concepts of risk (Cont.) Ø The real risk is that these costs will suddenly rise in an entirely unexpected way , or that some other cost will appear from nowhere and steal the money we’ve set aside for our expected outlays. LO: Explain ( ) Basics of Risk Management
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Risk vs. reward Ø There is a trade-off : if one wants to achieve a higher rate of return on average, one often has to assume more risk.
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