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Home > Program > Finance MBA

Opening Opening Remarks
Presentation Integrated Risk Management
BREAK -
Presentation Market Risk, Credit Risk and Liquidity Risk
LUNCH -
Presentation Managing Operational and Reputational Risk
BREAK -
Presentation Hedge Funds and Risk Management : The New Masters of the Universe?



  Opening Remarks
Oct.12th 09:00~09:15, GRAND

 The Stern School is regularly ranked as one of the world’s leading business schools. Its large research-driven faculty offers a full range of undergraduate, masters, doctoral and executive programs.

 Stern’s Finance faculty is widely recognized as one of the three or four top departments in the world, with over 40 full-time faculty conducting state of the art research in all key aspects of the field. Students and practitioners at Stern have access to an enormous variety of courses, seminars, conferences and executive programs reflecting the latest research findings and financial market practices.

Peter Blair Henry   Dean, Stern School of Business, New York University



  Integrated Risk Management
Oct.12th 09:15~10:45, GRAND

 The recent financial crisis has demonstrated significant weaknesses in the approaches to integrated risk management in many financial and nonfinancial businesses, and some of the financial losses have been enormous. Here we present an integrated view of risk control, and identify the key risk domains facing businesses - strategic risk, credit risk, market risk, liquidity risk, operational risk, sovereign risk and reputational risk.

 Each will be discussed from the perspective of shareholders, in particularly how they are linked to each other and where some of the deadly gaps can arise in risk management.

Ingo Walter   The Seymour Milstein Professor of Finance, Corporate Governance and Ethics & Vice Dean,
                  Stern School of Business, New York University

 



  Market Risk, Credit Risk and Liquidity Risk
Oct.12th 11:10~12:40, GRAND

 What are the latest tools of credit risk assessment and how did they perform during the financial crisis given the massive volatility and disappearance of liquidity that happened. Did we learn anything, and what explains why some firms did much better than others in riding out the financial typhoon?

 Key source of market risk, and where did market risk modeling go wrong? Why is it that we have such a poor ability to understand extreme risk events such as liquidity shocks and contagion among markets and asset classes, and what are the lessons for the future?

Anthony Saunders   John M. Schiff Professor of Finance, Stern School of Business, New York University



  Managing Operational and Reputational Risk
Oct.12th 13:40~15:10 GRAND

 In a world where national boundaries have become permeable through the opportunities for international careers and personal travel, a new breed of individual has emerged who reflects this change and promises to be the key player in the next stages of globalisation. This is the Global Cosmopolitan, a featured actor in this emerging drama who has lived in different countries, learnt to speak multiple languages and acquired an ease of moving to new situations. Professor Linda Brimm affords a unique view into the world and experience of Global Cosmopolitans, in her book, Global Cosmopolitans, The Creative Edge of Difference. Based on her extensive work as a consultant, teacher and psychologist working with these individuals, she will present their stories, with a variety of useful concepts for understanding their unique experience.

 The frameworks are also a useful approach for any individual experiencing the excitement and anxieties of change in life conditions and personal identity. Finally to the organizations that will increasingly rely on the unique talents of this group, this presentation affords an insight into the special world of these individuals and begins an important dialogue of how to best involve and manage these people.

Ingo Walter   The Seymour Milstein Professor of Finance, Corporate Governance and Ethics & Vice Dean,
                  Stern School of Business, New York University

 



  Hedge Funds and Risk Management: The New Masters of the Universe?
Oct.12th 15:40~17:00, GRAND

 Think about the Union Carbide toxic gas disaster in Bophal, India a quarter century ago. Or the BP oil spill disaster in the Gulf in Mexico in 2010. Or Societe Generale’s rogue trading losses a few years ago. What do they have in common? Each involved operational failures that created massive shareholder losses, which in the case of Union Carbide spelled the end of the firm and in the case of BP gets very close to the same result.

 Each was rooted in some very specific operational areas and yet were connected to the general strategies and cultures of the firm. Here we discuss the sources of operational, reputational and franchise risk and how they differ. We also discuss how they can be valued, including the impact of explicit damage regarding costs, penalties, civil litigation and the impact of market discipline, including the use of event studies. We consider key issues in managing operational and reputational risk, including its relationship to the culture of the business firm.

Stephen Brown   The David S. Loeb Professor of Finance at the Stern School of Business,
                        New York University