{"product_id":"9780615685465","title":"Middle Office","description":"\u003cul\u003e\n\u003cbr\u003e\u003cem\u003eMiddle Office: Managing Financial Institutions in Turbulent Times-\u003c\/em\u003ePhilip Lawton's new book for bankers and investment professionals-contains short, readable essays on key concepts and current issues in leadership, ethics, and training; regulatory compliance; risk management; and investment performance measurement. The writing style is fluent, and there are footnotes for readers who wish to consult sources or learn more about particular topics. The book is brought to life by John Rubino's photographs of the steel sculptures in his powerful series, \"Anatomy of a Calamity.\"\u003cbr\u003e\n\u003c\/ul\u003e\u003cbr\u003e\u003cul\u003e\n\u003cbr\u003eWHAT THIS BOOK COVERS\u003cbr\u003e\n\u003c\/ul\u003e\u003cbr\u003e\u003cul\u003e\n\u003cbr\u003e\u003cem\u003e Middle Office\u003c\/em\u003e contains an Introduction and 68 short articles. Here are highlights of the contents:\u003cbr\u003e\n\u003c\/ul\u003e\u003cbr\u003e\u003cul\u003e \u003cli\u003e Part One: Leadership, Ethics, and Training addresses such topics as complexity leadership theory; employee loyalty; on-the-job training; organizational silos; and the volunteer's dilemma.\u003c\/li\u003e\n\u003cbr\u003e\n\u003c\/ul\u003e\u003cbr\u003e\u003cul\u003e \u003cli\u003e Part Two: Regulatory Compliance considers principles-based regulation; the employment impact of securities regulations; and international regulators' approaches to leverage, intraday liquidity, credit rating agencies, and OTC derivatives.\u003c\/li\u003e\n\u003cbr\u003e\n\u003c\/ul\u003e\u003cbr\u003e\u003cul\u003e \u003cli\u003e Part Three: Risk Management tackles such topics as the distinction between risk and uncertainty; reputational risk; intraday liquidity risk; causal dependence; and managing central counterparty credit risk.\u003c\/li\u003e\n\u003cbr\u003e\n\u003c\/ul\u003e\u003cbr\u003e\u003cul\u003e \u003cli\u003e Part Four: Performance Measurement and Client Reporting discusses fair value accounting and credit valuation adjustments; after-tax performance measurement; benchmark management; and the GIPS\u003csup\u003e® \u003c\/sup\u003e standards for alternative investments.\u003c\/li\u003e\n\u003cbr\u003e\n\u003c\/ul\u003e\u003cbr\u003e\u003cul\u003e\n\u003cbr\u003eWHO SHOULD READ IT\u003cbr\u003e\n\u003c\/ul\u003e\u003cbr\u003e\u003cul\u003e\n\u003cbr\u003e\u003cem\u003eMiddle Office\u003c\/em\u003e is written for compliance officers, risk managers, and the heads of investment performance measurement groups at banks and investment management organizations. However, because this book accurately explains technical concepts and issues in plain language, board members and C-suite executives-as well as financial journalists-will also find it valuable. In addition, regulators will find that the author does not sacrifice insightfulness for brevity in discussing issues they are vitally concerned about, such as the elements of sound internal risk management programs at financial institutions.\u003cbr\u003e\n\u003c\/ul\u003e\u003cbr\u003e\u003cul\u003e\n\u003cbr\u003e\u003cstrong\u003e \u003c\/strong\u003eEXCERPT FROM THE INTRODUCTION\u003cbr\u003e\n\u003c\/ul\u003e\u003cbr\u003e\u003cul\u003e\n\u003cbr\u003e\"Every age has its problems, but managing banks, investment firms, and broker-dealers may never have been more challenging. The short essays collected here represent an unsystematic attempt to clarify some of the issues and, occasionally, to indicate lines of thought that seem promising.\u003cbr\u003e\n\u003c\/ul\u003e\u003cbr\u003e\u003cul\u003e\n\u003cbr\u003eThe present volume contains most of the posts on leadership, regulatory compliance, risk management, and investment performance measurement that have appeared to date in a WordPress blog called, simply, \u003cem\u003eMiddle Office\u003c\/em\u003e. During the period in which these pieces were composed, we witnessed a series of untoward and rather unnerving events at well-known financial institutions: MF Global failed and clients' funds went missing; a rogue trader was found out at UBS; JPMorgan Chase sustained huge losses in derivatives; Barclays and others were accused of falsifying LIBOR; Peregrine Financial entered bankruptcy amid charges of fraud; HSBC allegedly laundered money for drug cartels and dealt with firms linked to terrorism; and Knight Capital lost control of a high-frequency trading algorithm.\u003cbr\u003e\n\u003c\/ul\u003e\u003cbr\u003e\u003cul\u003e\n\u003cbr\u003eSuch occurrences-for the most part ethical lapses and operational breakdowns-raise pressing questions for regulators, boards, and senior management....\"\u003cbr\u003e\n\u003c\/ul\u003e","brand":"Philip Lawton","offers":[{"title":"Default Title","offer_id":50090885153008,"sku":"9780615685465","price":14.95,"currency_code":"USD","in_stock":false}],"url":"https:\/\/shop-qa.barnesandnoble.com\/products\/9780615685465","provider":"Barnes \u0026 Noble (DEV)","version":"1.0","type":"link"}