Risk management and internal controls

Article Abstract:

Internal controls and policies are essential to managing the risk inherent in holding derivative instruments and using derivatives as a risk management tool. Senior management and directors must ensure that such controls are being implemented and that actions are being taken consistent with policy. The types of risks that must be managed include operational risk, legal risk, liquidity risk, market risk and credit risk.

Methods, Usage, Risk management

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Risk management of financial derivative products: who's responsible for what?

Article Abstract:

The responsibility for developing risk management practices rests with senior management. Derivative instruments can represent various kinds of risk, including market, credit, legal, operational and liquidity. Any of these kinds of risks can be dangerous for a company, so each must be addressed. Ways to address these different risks and to integrate such practices into the existing oversight system are detailed.

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Derivative financial losses

Article Abstract:

More than 100 losses due to financial derivatives have been described in the media since the late 1980s. This reveals widespread public concern with these instruments and shows a need for their strict internal control. The losses are listed in reverse chronological order.

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