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Post-Crisis Risk Management. Bracing for the Next Perfect Storm. Wiley Finance
John Wiley and Sons Ltd, April 2010, Pages: 216
Tsuyoshi Oyama, an experienced risk management professional, has produced a valuable and insightful examination of the causes of the global financial crisis, the initial public sector responses to the crisis, and his recommendations on how best to bolster international financial soundness. A Japanese perspective on these matters may be of particular relevance, given the country’s and Mr. Oyama’s extensive experience with financial stability issues since 1989. Post-Crisis Risk Management is a useful addition to the rapidly growing literature on how we might avoid repeating the global financial crisis in our lifetimes.
Executive General Manager
Australian Prudential Regulation Authority
Post-Crisis Risk Management provides a unique opportunity for readers to get some idea of an insider’s perspective to the global financial crisis and most importantly to the regulatory aspects relating to the crisis such as Basel II. Mr. Oyama is headstrong and has the burning desire to share with us his own view of the global regulatory framework and more. In this book, he argues his case to avoid a recurrence of such crisis in the future.
Director General, Training Department
China Banking Regulatory Commission
With his extensive experience as a regulator and risk manager, Tsuyoshi Oyama provides an instructive insight into the development of the current crisis and workings of the regulatory world, and offering suggestions on how best to address the challenges of future financial and economic issues. Mr. Oyama puts the art and science of risk management in the proper perspective to make this book an interesting read for both the regulator and regulated. A timely work no less.
Tham Ming Soong
Executive Vice President, Head, Risk Management,
United Overseas Bank Limited
Post-Crisis Risk Management takes a different view from the earlier analyses of the global financial crisis and submits proposals which may create a more stabilized world financial system. A must-read book.
Bank of Thailand
What is the degree of stress to be endured by individual financial institutions? This is a question that many financial institutions actually had during the crisis but have gained no answer yet. This book proposes a unique answer to this question, that is, “the agreement of sharing stresses is to be absorbed between financial institutions and the authorities.” This agreement could effectively motivate senior managers of financial institutions to be deeply involved in the risk management, which is often seen as an art. This book also sounds a warning from a long-term point of view, of the dangerous consequence of the current stop-gap measures initiated mainly by politicians with regulation enhancement.
General Manager, Risk Management Division
The Norinchukin Bank
CHAPTER 1 Developments of the Current Financial Crisis.
CHAPTER 2 Overview of the Financial Crisis.
CHAPTER 3 First Reactions: Countermeasures and Recommendations.
CHAPTER 4 Various Issues Highlighted by the Financial Crisis.
CHAPTER 5 Reform of Risk Management Based on the Lessons Learned from the Crisis.
CHAPTER 6 Strategic Reaction to the Financial Crisis: the Japanese and Asian Perspective.
CHAPTER 7 Conclusion: Post-Crisis Risk Management to be Established.
Tsuyoshi Oyama has been a Director for Risk and Control Solutions at PricewaterhouseCoopers Aarata in Tokyo since September 2008. Before that, Oyama worked for more than 20 years at the Bank of Japan (BoJ), most recently as Deputy Director-General in Financial System and Bank Examination Department. In the BoJ, he conducted several projects to deal with Japanese banks’ non-performing loans (NPL) problem and recently led Basel II implementation in Japan, including Pillar 2 (economic capital management), IRB and AMA. Up to June 2008, he also served as member of several sub-committees under the Basel Committee on Bank Supervision. From 1994 to 1997, he was seconded to the Policy Development and Review Department of the International Monetary Fund (IMF). He is Co-Regional Director of Global Association of Risk Professionals (GARP).