Risk management in finance: Six Sigma and other next-generation techniques
Saved in:
| Main Author: | |
|---|---|
| Format: | Book |
| Language: | English |
| Published: |
Hoboken, NJ
Wiley
2009
|
| Series: | Wiley finance series
|
| Subjects: | |
| Online Access: | Inhaltsverzeichnis |
| Physical Description: | XXVI, 327 S. graph. Darst. |
| ISBN: | 9780470413463 |
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MARC
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| 245 | 1 | 0 | |a Risk management in finance |b Six Sigma and other next-generation techniques |c Anthony Tarantino ; Deborah Cernauskas |
| 264 | 1 | |a Hoboken, NJ |b Wiley |c 2009 | |
| 300 | |a XXVI, 327 S. |b graph. Darst. | ||
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Record in the Search Index
| _version_ | 1804139192783994880 |
|---|---|
| adam_text | ШІІ
Preface
xv
Acknowledgments
xix
About the Contributors
xxi
CHAPIHti
Introduction
1
Organization of This Book
3
Why Read This Book?
4
Note
4
СНДРТИ2
Data Governance in Financial Risk Management
5
Introduction
5
Data Governance Center of Excellence
6
Data Governance Assessment
8
Data Governance Maturity Model
8
Best Practices in Data Governance
10
Conclusion: Next-Generation Techniques to Reduce Data
Governance Risk
12
Notes
13
СНАРТШЅ
htermatton
Risk and Data QualtyMaiagenieflt
15
Introduction
15
Organizational Risk, Business Impacts, and Data Quality
15
Examples
17
Data Quality Expectations
19
Mapping Business Policies to Data Rules
21
Data Quality Inspection, Control, and Oversight: Operational
Data Governance
21
Managing Information Risk via a Data Quality Scorecard
22
Summary
24
Notes
24
VI
Via CONTENTS
СНАРТШ4
Total Quatty Management Using Lean Six Sigma
27
Introduction
27
Performance Targets
28
Process for Excellence
30
Process Improvement
31
Summary
35
ШРТВІБ
Reducing Risk to Financial uperarons tnrougn
птогтаооп
ι
есітоюду
ami htrastpucture Risk Management
37
Introduction
37
The Problem
37
Risk Source and Root Cause
42
Risk Management
43
Closing Comments
45
Global IT Standards Matrix
47
Links to IT Risk Associations and Agencies
49
CHAPTERS
An Operational Risk Management Framework lor
АИ
Organizations
53
Introduction
53
Definition and Categorization of Operational Risk
54
How Auditors and Regulators Approach Risk Management
56
How Rating Agencies Evaluate Operational Risk
57
An Operational Risk Framework for All Organizations
57
Conclusion
59
GHAPTBI7
Financial Risk Management
m
Asia
61
Introduction
61
Risks in Asian Supply Chains
63
Risks in Asian Financial Markets
67
Conclusion
73
Notes
73
CtUPTfflB
Doing Business in Lath America: Lessens Learned and Best Practices
lor the Protection ol Foreign Investors
75
Introduction
75
The World Bank Indicators
76
Protection of Debt Investors
79
Protection of Minority Owners
82
Conclusion
85
БНАРТШ9
Mitigating Risk Exposure
η
Transmontan
to the ffRS
87
Introduction
87
Revenue Recognition Risks {IAS
18)
90
Contents ix
Derivatives
(IAS
39)
and Hedging Risks
91
Share-Based Compensation and Pension Risks
93
Nonfinancial Asset Risks
94
Off-Bałance-Sheet
Risks (Financial Assets)
94
Tax Liability Risks
96
Other Liability Risks
96
Financial Liabilities and Equity Risks
97
Business Combination Risks (Mergers and Acquisitions)
91
Financial Services Industry Risks
99
Conclusion: Suggestions to Reduce the Conversion Risks
100
Notes
101
CHAPTER
10
Quantitative Operational Risk Management Methods
103
Introduction
103
Operational Risk Overview
105
Quantitative Methods
106
Modeling Approach Operational Risk
107
Operational Value at Risk
107
Multifactor Causal Models
308
Regime Switching Models
109
Discriminant Analysis
110
Bayesian Networks
111
Process Approach to Operational Risk
111
Business Process Modeling and Simulation
111
Precursor Analysis in Operational Risk Management
112
Agent-Based Modeling
113
Six Sigma Approach to Quality and Process Control: Failure
Modes and Effects Analysis
113
Conclusion
115
Bibliography
115
Notes
116
CHAPTER
11
Statistical Process Control Integrated with Engineering Process Control
117
Introduction
117
Control Schemes
118
Statistical Process Control
119
Engineering Process Control Systems
121
Finance Example
125
Conclusion
130
Bibliography
130
Notes
130
CHAPTERS
Business Process Management and Lean Six Sigma:
Mt
131
Background
131
Historical Perspective
133
CONTENTS
ВРМ
in Financial Services
—
Functionality to Look For
134
Survey of Cross Industry Deployments of BPM Solutions
135
Benefits of BPM over Traditional Process Development
136
Pulte
Mortgage Case Study
136
Ameriprise Financial Case Study
136
Lean Six
Sigma s SIPOC
Approach to BPM
137
Conclusion
139
Notes
142
CHAPTER
13
Bayesian Networks tor Root Cause Analysis
143
Introduction: Risk Quantification in Finance
143
Causal Knowledge Discovery
144
Bayesian Networks
147
Conclusion
151
Bibliography
151
CHAPTER
14
out of
Inf
ormation
153
Abstract
153
Introduction
154
Information Technology and Service Evolution
155
Information Analytics Technology Landscape
156
Future Analytics Technologies
166
Conclusion
167
Notes
167
СНАРТШ15
171
Introduction
171
Execution Risk in the Financial Services Industry
171
Business Processes
172
Predictive Analytics; Technology-Enabled Analytic Methods
173
Conclusion: Managing Risk Competitively
180
ЄНАРТНИЄ
Reducing
tne
financial Risks in Litigation and Legal Discovery
183
Background
183
The Sedona Conference and the New Rules of Civil Procedure
184
U.S. Court Rulings under the New FRCP
189
U.S. Rulings Impacting Businesses Outside the United States
192
Best Practices and Next-Generation Techniques
193
Conclusion
195
Notes
195
Contents
XI
CHAPTER
17
The Circle of Trust
197
Introduction
197
Is Three Sigma Good Enough?
198
Economic Value of a Sigma
199
The Six Sigma Audit
200
Conclusion
202
Notes
202
CHAPTER
18
Reducing Liability Risk through Rest Environmental Practices
203
Introduction
203
The Economy and the Environment
205
Environmental Risks: Risks and the Securities and Exchange
Commission (SEC)
206
Impact of Industrial Environmental Management on Firms
Competitive Advantage
208
Shift in Industrial Ecosystem toward Sustainability
210
Industrial Profitability and Sustainable Development
212
Pollution Trading and Firms Financial Performance
214
Conclusion
215
Notes
215
Bibliography
218
CHAPTER
19
Beyond Segregation of Duties: Next-Generation Techniques in
Evaluating User Access Control Risks
219
Introduction
219
User Access Controls, Not Just Segregation of Duties
219
Risk Assessment Methodology
220
The Next Generation of Segregation of Duties: User Access Controls
221
Current State and Future Direction of Risk Advisory and Audit Firms
227
Current State and Future Direction of ERP Software Vendors
230
Conclusion
231
Notes
232
CHAPTER
20
Overview
233
Background
234
Basel II and Current U.S. Implementation
235
Current State of Enterprise Risk Management
236
Financial Accounting versus Risk Accounting
240
10
Principles of Effective Enterprise Risk Management
240
A Transactional Approach
241
Cross-Enterprise Solution
244
Predictive Risk Models
250
Conventional Solutions versus Cross-Enterprise Process
251
ХМ
______________________________________________________________________________CONTENTS
Conclusion
254
Notes
255
Throughput Accounting
257
Background
257
The Five Focusing Steps
258
Throughput Accounting
259
Elements of Throughput Accounting
260
Evaluating Financial Decisions
261
Role of a Constraint
262
Applying T, I, and OE to Traditional Business Measures
263
Product Cost
—
Throughput Accounting versus Cost Accounting
264
Analyzing Products Based on Throughput per Constraint Unit
266
How Can a Company Increase T/CU?
268
Key Decisions Areas to Apply Throughput Accounting
269
Summary
270
Appendix: Common Questions and Answers
271
Notes
272
снАРттгг
Environmental Consistency
Confidence:
Scientific Method in
Financial
Risk Management
273
Introduction
273
Paradigms Applied
—
Values, Control,
Reengineering,
and Costing
275
Environmental Consistency Confidence
—
Statistical Head,
Cultural Heart
276
What Is a Key Risk Indicator (KRI)
? 277
Case Study: Global Commodities Firm
278
Predictive Key Risk Indicators for Losses and Incidents
(PKRI^LI) Issues
280
Case Study: European Investment Bank
280
What Is Current Practice?
283
Bigger Canvases for Scientific Management
285
Conclusion
286
Bibliography
287
Notes
287
СНАРТВШ
Quality it the Front Office: Reducing Process Variation
in Trading Firms
289
Introduction
289
Development Methodology for Quantitatively Driven Projects
in Finance
290
Waterfall Process for Continuous Improvement (Kaizen)
296
Conclusion
296
Notes
296
Contents___________________________________________________________________
Xiií
СНЛРТВ24
The Root Cause of the Global Financial Crisis and Corporate Board
Reforms to Prevent Future Failures in Risk Management
299
Introduction
299
Background to the Global Financial Crisis of
2007-2009 299
Why This Crisis Deserves Close Scrutiny
300
The Root Cause of Catastrophic Failure in Financial Risk
Management
301
How to Prevent Future Failures in Financial Risk Management
303
Conclusion
318
Notes
319
Index
321
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| isbn | 9780470413463 |
| language | English |
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| spelling | Tarantino, Anthony 1949- Verfasser (DE-588)133317617 aut Risk management in finance Six Sigma and other next-generation techniques Anthony Tarantino ; Deborah Cernauskas Hoboken, NJ Wiley 2009 XXVI, 327 S. graph. Darst. txt rdacontent n rdamedia nc rdacarrier Wiley finance series Finanzdienstleistung stw Operationales Risiko stw Qualitätsmanagement stw Risikomanagement stw Financial risk management Finanzierung (DE-588)4017182-6 gnd rswk-swf Risikomanagement (DE-588)4121590-4 gnd rswk-swf Finanzierung (DE-588)4017182-6 s Risikomanagement (DE-588)4121590-4 s DE-604 Cernauskas, Deborah 1956- Sonstige (DE-588)138307237 oth Digitalisierung UB Regensburg application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=017604921&sequence=000004&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
| spellingShingle | Tarantino, Anthony 1949- Risk management in finance Six Sigma and other next-generation techniques Finanzdienstleistung stw Operationales Risiko stw Qualitätsmanagement stw Risikomanagement stw Financial risk management Finanzierung (DE-588)4017182-6 gnd Risikomanagement (DE-588)4121590-4 gnd |
| subject_GND | (DE-588)4017182-6 (DE-588)4121590-4 |
| title | Risk management in finance Six Sigma and other next-generation techniques |
| title_auth | Risk management in finance Six Sigma and other next-generation techniques |
| title_exact_search | Risk management in finance Six Sigma and other next-generation techniques |
| title_full | Risk management in finance Six Sigma and other next-generation techniques Anthony Tarantino ; Deborah Cernauskas |
| title_fullStr | Risk management in finance Six Sigma and other next-generation techniques Anthony Tarantino ; Deborah Cernauskas |
| title_full_unstemmed | Risk management in finance Six Sigma and other next-generation techniques Anthony Tarantino ; Deborah Cernauskas |
| title_short | Risk management in finance |
| title_sort | risk management in finance six sigma and other next generation techniques |
| title_sub | Six Sigma and other next-generation techniques |
| topic | Finanzdienstleistung stw Operationales Risiko stw Qualitätsmanagement stw Risikomanagement stw Financial risk management Finanzierung (DE-588)4017182-6 gnd Risikomanagement (DE-588)4121590-4 gnd |
| topic_facet | Finanzdienstleistung Operationales Risiko Qualitätsmanagement Risikomanagement Financial risk management Finanzierung |
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