Rogues of Wall Street: How to Manage Risk in the Cognitive Era

PRAISE FOR ROGUES OF WALL STREET

"Andrew Waxman digs deep into some of the pitfalls of risk–taking, going beyond the financial crisis to provide a comprehensive look at threats faced by the modern banker."
JOE ADLER, Editor, BankThink Blog

"Important and timely. Waxman shows how easily banks′ defenses can be breached by skilled and resourceful rogues."
BEN MCLANNAHAN, US Banking Editor, Financial Times

"Waxman′s book is a thorough and expert assessment of the threats faced by risk managers on Wall Street today. His analysis also provides a very useful guide to how to prevent and avoid them in the future."
SANNY MAKKI, Vice President, IBM Global Business Services, Banking and Capital Markets

FILL THE HOLES IN YOUR RISK MANAGEMENT STRATEGY WITH THE LATEST COGNITIVE TECHNOLOGIES

Rogues of Wall Street is the must–have guide for bank leaders and consultants who need the latest tools and techniques for managing operational risk in the complexities of today′s digital processes and regulations. Banking institutions must protect themselves from a diverse variety of events putting their operations at risk, and this comprehensive resource offers high–level insight and on–the–ground solutions to collecting and analyzing the proper data to pick up on irregularities and promote a workplace culture that thrives on and rewards above–the–board ethics. This single resource enables you to:

Enhance your real–world practice with relevant analysis of the most recent major operational risk incidents, including what caused them and how best to prevent them Optimize your institution′s culture and governance to empower your risk management program Save time and money by understanding which cognitive technologies can be used to avoid losses and where to use them

Rogues of Wall Street is your complete source for authoritative guidance and actionable advice.

Introduction: A Risky Business

Acknowledgments

About the Author

Chapter 1: The Historical Context

Chapter 2: The Rogue Trader

Chapter 3: Genius Traders: Who They Are and How to Catch Them

Chapter 4: Insider Trading

Chapter 5: Price Manipulation Risk: The Big Unknown

Chapter 6: The Mortgage Mess

Chapter 7: Ponzi Schemes and Snake Oil Salesmen

Chapter 8: Rogue Computer

Chapter 9: Funding the Bad Guys Winning the AML Battle

Chapter 10: Litigation and Big Data Risk

Chapter 11: Twitter Risk and Fake News Risk

Chapter 12: Spreadsheet Risk: Should We Ban Excel?

Chapter 13: Acts of God Risk

Chapter 14: Cybersecurity The Threat from Outside and Inside the Firewall

Chapter 15: Turning the Tables on Risk

Chapter 16: Building the Right Culture: Values, Organization, and Culture

Chapter 17: The 360–Degree Risk Management Function

Chapter 18: What We Talk about When We Talk about Risk

Chapter 19: The Future Is Unknowable, the Present Burdensome; Only the Past Can Be Understood

Chapter 20: The New Tools of the Trade

Chapter 21: Cognitive Technologies

Chapter 22: The Role of Government and Regulators in Managing Risk

Chapter 23: Case Studies and Guiding Principles in Planning for Disaster

Chapter 24: The Risk Management Society and Its Friends

Chapter 25: Conclusion: Seven Traits for Successfully Managing Cognitive Risk

Index

ANDREW WAXMAN is an associate partner in IBM′s Financial Services Risk and Compliance consulting practice with over 20 years of experience, in the United States and the United Kingdom, helping financial services organizations manage complex business issues. Andrew has written on risk and banking issues in industry journals, such as American Banker and Wall Street and Technology, for many years.