Value and Capital Management: A Handbook for the Finance and Risk Functions of Financial Institutions (Wiley Finance Series)

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9781118774632: Value and Capital Management: A Handbook for the Finance and Risk Functions of Financial Institutions (Wiley Finance Series)
Vom Verlag:

The role of the Chief Financial Officer (CFO) and Chief Risk Officer (CRO) in financial services firms has changed dramatically over the past decade, affording the position greater potential to influence both strategy and operations. Exercising these roles requires both "hard" quantitative skills and "soft" qualitative skills. This Handbook outlines a practical framework for measuring and, more importantly, influencing the value of banks, insurance companies and asset management companies from the viewpoint of the CFO and CRO. The Handbook consists of three sections: Section 1 -- Better information: What gets measured, gets managed. Accurately measuring value is a necessary precondition for managing it. Unfortunately, measuring value in financial services is challenging given the unique role that risk and capital play in the economics of the business. This section develops a quantitative, risk-adjusted value management framework tailored to financial services and reconciled with the way that our shares are actually valued by the market. The framework can be used as the foundation for internal value based management initiatives and evaluate growth opportunities. Section 2 -- Better insights: Better information may be a necessary condition, but it is not a sufficient condition: ultimately, the "right" strategic decisions have to be taken. Becoming a professional sparring partner to CEOs requires insights beyond risk and capital; it also requires an in-depth understanding of the competitive market place and the drivers of operating profitability and where profitable growth is going to come from. This section presents specific "value trees" tailored to banking, insurance and asset management businesses and presents examples of value enhancing business initiatives. It is designed to give business unit CEOs, CFOs and CROs concrete ideas for increasing the value of their firm. Section 3 -- Better decisions: In addition to being a sparring partner and challenging business strategies, the finance and risk functions also have manage their own areas of responsibility, especially in the areas of risk management, balance sheet and capital management and strategic planning. This section develops the quantitative and qualitative management frameworks for CFOs and CROs to move from measurement to management in these areas.

Vom Verlag:

A value management framework designed specifically for banking and insurance

The Value Management Handbook is a comprehensive, practical reference written specifically for bank and insurance valuation and value management. Spelling out how the finance and risk functions add value in their respective spheres, this book presents a framework for measuring - and more importantly, influencing - the value of the firm from the position of the CFO and CRO. Case studies illustrating value-enhancing initiatives are designed to help Heads of Strategy offer CEOs concrete ideas toward creating more value, and discussion of "hard" and "soft" skills put CFOs and CROs in a position to better influence strategy and operations. The challenge of financial services valuation is addressed in terms of the roles of risk and capital, and business-specific "value trees" demonstrate the source of successful value enhancement initiatives.

While most value management resources fail to adequately address the unique role of risk and capital in banks, insurance, and asset management, this book fills the gap by providing concrete, business-specific information that connects management actions and value creation, helping readers to: * Measure value accurately for more productive value-based management initiatives and evaluation of growth opportunities * Apply a quantitative, risk-adjusted value management framework reconciled with the way financial services shares are valued by the market * Develop a value set specific to the industry to inspire initiatives that increase the firm's value * Study the quantitative and qualitative management frameworks that move CFOs and CROs from measurement to management

The roles of CFO and CRO in financial firms have changed dramatically over the past decade, requiring business savvy and the ability to challenge the CEO. The Value Management Handbook provides the expert guidance that leads CFOs and CROs toward better information, better insight, and better decisions.

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Wilson, Thomas D.
Verlag: John Wiley & Sons Inc Jul 2015 (2015)
ISBN 10: 1118774639 ISBN 13: 9781118774632
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Buchbeschreibung John Wiley & Sons Inc Jul 2015, 2015. Buch. Buchzustand: Neu. 256x180x43 mm. Neuware - A value management framework designed specifically for banking and insurance 720 pp. Englisch. Artikel-Nr. 9781118774632

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