The Essentials of Risk Management, Second Edition, 2nd Edition

FOREWORD

The world changed after the global financial crisis of 2007–2009, and the change was especially dramatic for banks. The second edition of this book is therefore very welcome and helps to clarify both the implications of the crisis for risk management and the far-reaching process of regulatory change that will come into full force over the next few years.

Banks are reforming their risk management processes, but the challenge goes much deeper. Banks must rethink their business models and even question the reason for their existence. Do they exist to take proprietary risks (on or off their balance sheet) or to provide a focused set of services and skills to their customers and business partners?

At Natixis, our business adopts the latter ...