Risk Management

목차

I. Reading 26. Risk Management
1. Introduction
2. Risk Management Process as a Process
3. Risk governance
4. Identifying risks
5. Measuring risk
6. Managing Risk

II. Reading 27. Risk Management Applications of Forward and Futures Strategies
1. Introduction
2. Strategies And Applications For Managing Interest Rate Risk
3. Strategies And Applications For Managing Equity Market Risk
4. Asset Allocation With Futures
5. Strategies And Applications For Managing Foreign Currency Risk
6. Futures or Forwards?

III. Reading 28. Risk Management Applications of Option Strategies
1. Introduction
2. Option Strategies for Equity Portfolios
3. Interest Rate Options
4. Option Portfolio Risk Management Strategies

IV. Reading 29. Risk Management Applications of Swap Strategies
1. Introduction
2. Strategies and applications for managing INTEREST RATE RISK
3. Strategies and applications for managing EXCHANGE RATE RISK
4. Strategies and applications for managing equity market risk
5. Strategies and applications using swaptions

본문내용

1 Introduction
 Section1: Introduction
 Section2: defines and explains a risk management framework
 Section3: What constitutes good risk management?
 Section4, 5, and 6: the individual steps in the risk management process.
LOS26.a discuss features of the risk management process, risk governance, risk reduction, and enterprise risk management system

2 Risk Management Process as a Process
 Risk management process
① Set policies and procedures
② Define risk tolerance(the level of risk)
③ Identify risks
④ Measure risks
⑤ Adjust level of risks [risk-modifying transactions(trade identification→ pricing→ execution)]
※ Not necessarily eliminating risk together – [Prac16]
⇒ Areas in which they have no expertise or comparative advantage → hedge risks
⇒ Areas in which they have an edge(i.e. their primary line of business) →hedge only tactically
[when they perceive a comparative advantage(disadvantage) → risk↑(risk↓)]
[Prac4] Trader A: hedge/ Trader B: Speculation
Trader 3 “Our traders have considerable experience and expertise in analyzing the risk, and this risk is related to our

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