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Title: The new management imperative in finance by James T. Gleason
Review: The author provides an excellent overview of the development of risk management products and best practices since the early 1980s. The book also covers the latest developments taking place in counterparty risk measurement and the move beyond relying on value-at-risk models only towards 'stress testing'. In the final chapters of the book, the author provides a roadmap for developing an enterprise wide risk management framework and some of the pitfalls that may be encountered in its implementation. The book is clearly written by someone with practical experience of the subject matter and, unlike many other books in the field, explains the issues without reverting to complex mathematics and statistics.
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