Risk Management is one of the most difficult areas of the financial industry. Risk Managers also have to make the best decisions for their corporation ensuring the minimum risk.
To take these decisions, you must be informed of the emerging risks in the ever-changing global finance industry. In this post, we will share our pick of the 10 best Risk Management books that can help experts as well as beginners.
1) The Essentials of Risk Management by Dan Galai, Michel Crouhy, and Robert Mark
The Essentials of Risk Management is one of the best Risk Management books and it is written by a team of authors who have vast experience in Risk management and corporate governance area.
In this book, the authors draw the lessons from the financial crisis of 2002 and explain how shortcomings in traditional risk management affected the whole industry.
The authors also discussed some of the important topics like the post-crisis regulatory framework, corporate governance and risk management, operational risk, stress testing, etc. This book will prepare to deal with the financial risks faced by corporations and how to manage them effectively.
2) A Practical Guide to Risk Management by Thomas S. Coleman
It is one of the finest books on Risk Management, in the book, the author explains risk management and how you can manage it effectively.
This book will create a better understanding of risk management and which tools you can use for risk management. The author also covers important topics like financial risk events, systemic vs idiosyncratic risk, quantitative risk measurement, etc.
This book will provide you with a complete understanding of risk management from a unique risk management perspective.
3) Financial Risk Management by Steve L. Allen
Financial Risk Management provides the strategies, principles, and techniques to measure and manage the risk. The book is divided into three main parts and each part provides you with in-depth insights and valuable information on risk management.
This book will develop a basic understanding of risk management and it will help you understand the important concepts like Value-at-risk (VaR), stress testing, and management of the portfolio. It is a must-read book for Risk Managers as well as students.
4) The Failure of Risk Management by Douglas W. Hubbard
Douglas W. Hubbard is a renowned author and in this book, the author explains the calibrated risk analysis approach. This book will help you to take a close look at misused and misapplied basic analysis methods.
This book also shows that some of the most popular “risk management” methods are not that effective. The author also suggests some good risk management methods which are also scientifically proven.
5) Understanding Risk by beck Matthias
Understanding Risk is one of the best risk management books in the market and it helps you to develop an understanding of Risk. The book is divided into three sections where the author discusses the issues related to corporate governance.
In the 2nd section, the author discusses the issues which affect the public sector. In the 3rd section, the author discusses societal risk management in relation to health safety and the environment.
6) Financial Risk Management by Jimmy Skoglund and Wei Chen
Financial Risk Management by Jimmy Skoglund and Wei Chen will help you to develop a deep understanding of banking risk on a global scale. This book provides you with an overview of methods for computing and managing risks.
The book also provides a review of the economic foundation of modern risk management and also emphasizes the importance of model risk management. This book will also provide you with an in-depth understanding of different topics related to financial risk management.
7) Identifying and Managing Project Risk by Tom Kendrick
Identifying and Managing project risk is the finest risk management book on Project Risk and it was published by the American Management Association.
In this book, the author describes the risks in projects due to poor planning and change management processes. The author follows the PMBOK stages of a project – initiation, planning, controlling, executing, and closure.
The book has several chapters and each chapter discusses the concepts related to project risk management. It is a great resource for Risk managers as well as students.
8) Fundamentals of Enterprise Risk Management by John J. Hampton
John J. Hampton is a professor of Business at St. Peter’s University and he is also the author of several books. This book will help you to develop your understanding of risk management and also help you to identify the risk and minimize loss.
This book also examines the latest technologies such as Riskonnect and High Tech Electronic Platform (HTEP). The book also helps you to understand crucial concepts like risk mapping, risk identification, etc.
9) Managing Risk in Projects by David Hillson
David Hillson is a well-known financial risk consultant and in this book, he explains the risks in projects. The author also explains the modern approaches to managing the projects and also emphasizes the importance of managing risk as an integral part of the project management discipline.
This book will help you to develop a deep understanding of managing risk in project management.
10) Managing Business Risk by Jonathan Reuvid
Jonathan Reuvid is a renowned economist and investment banker. In this book, Jonathan explains how effective risk management is a vital issue for the survival of your company.
This book will help you to establish the clearest possible controls on risks that may threaten your business in the future. The author discusses the five key areas of risk you must consider in today’s complex business market.
This book will help you to identify risks and neutralize them now to give a competitive advantage to your company.
11) The Risk Management Process: Business, Strategy, and Tactics by Christopher L. Culp
In this book, the author integrates essential risk management practices with practical corporate business strategies. The author also focuses on the importance of risk management and how it has become an important business process.
The author also comprehensively discusses derivative-based hedging strategies and tactics. This book will help you to understand the risk management process in detail. It is a must-read book for professionals as well as students.
