Risk Management for Asset Managers (In-House)

IFF - International Faculty of Finance
Training overview
Corporate / Group Training
2 days
From 1,999 GBP

Start dates
1,999 GBP
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Course description

Risk Management for Asset Managers (In-House)

  • Understand the new risk management framework
  • Define risk management structures
  • Get to grips with the different types of risk asset managers are facing
  • Master traditional risk management metrics and their limitations
  • Discover practical approaches for managing market risk
  • Deal with the impact of liquidity risk
  • Understand credit and counterparty risk
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This provider offers an online version of their classroom courses

Training content


  • What do we really mean by risk management in asset management?
  • Understanding the roles, responsibilities and goals of the stakeholders in the Asset Management business
  • What can RM deliver and not deliver? Who is going to deliver it?
  • What do we mean by market, credit, operation, liquidity, and reputational et. al. risks?
  • Who owns the risk? Who has responsibility for the risk? Who can manage the risk?

The Risk Framework

  • How do we create a risk framework? How do we monitor it is working?
  • The IQM process
    • identify risk and its relationships
    • quantify risk and its relationships
    • manage risk and its relationships
  • The risk management structure – the three Ps ~ Policy ~ Process ~ People
  • Risk appetites, limits, boundaries and mandates
  • Roles and responsibilities, reporting and action
  • How do we deal with non-linearity and complexity?
  • How do we deal with interdependence?
  • What about the gaps?

Market Risk (MR) Focus

  • Understanding traditional asset manager MR metrics and their limitations
    • Sharpe ratio
    • information ratio
    • tracking error
    • benchmark-relative risk
    • Alpha
    • Beta
    • absolute vs. relative measures
  • Understanding more comprehensive approaches to MR and their potential shortfalls
    • Value-at-Risk (VaR) and Expected Shortfall (ES)
    • in its various guises
    • Extreme Value Theory (EVT)
    • what does it bring?
    • data issues
    • completeness, proxies, accuracy
    • forecasting e.g. GARCH
    • is the future like the past?
    • stress test, reverse stress testing and scenarios
    • who does it? How good can it be?
    • performance attribution and other risk-return measures

Liquidity Risk Focus

  • What is liquidity risk and why should we care?
  • How is market risk related to liquidity risk?
    • volatilities
    • regimes and cycles
    • bid-offer
    • market impact effects
    • implications for valuation and liquidation
  • How does liquidity risk manifest itself in market shocks?

Credit and Counterparty Risk Focus

  • What kinds of credit and counterparty risk does an Asset Manager run?
  • How are the risks related to market and liquidity risk?
  • Typical situations including
    • collateral agreements
    • repos
    • ISDA Master/Schedule/Confirm
    • OTC derivative transactions
    • cash management
  • Credit exposure measurement technology
  • Limits structure and potential hedging strategies including credit derivatives

Operational Risk Focus

  • What kinds of operational risk does an Asset Manager run?
  • Special attention to client facing activities and servicing:
    • identifying the customer
    • classification and typing of customer
    • regulatory risk warnings, money laundering, appropriateness of products and other considerations
    • client money and asset ring fencing
  • General operational risks
    • system design and appropriateness
    • security and access
    • STP vs. manual intervention
    • loss databases
    • KPIs and KRIs
    • what are they for?
  • How can this go wrong? How are the errors related to other risk factors?


  • Online course fee: £1799.00 + VAT if applicable
  • London course fee: £2199.00 + VAT @ 20%

About IFF

International Faculty of Finance - IFF Finance & IFE Energy - Specialist Training Courses

As one of the world's leading specialist financial training organisations, The International Faculty of Finance, provides participants in the global financial markets with intensive technical training programmes designed to help them succeed on the global stage.  Established in 1991 we...

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