Rogues of Wall Street: How to Manage Risk in the Cognitive Era

Rogues of Wall Street analyzes the recent risk failures and errors that have overwhelmed Wall Street for the past decade. Written by a veteran risk, compliance, and governance specialist, this book helps bank leaders and consultants identify the tools they need to effectively manage operational risk. Citing different types of risk events such as: Rogue and Insider Trading, cyber security, AML, the Mortgage Crisis, and other major events, chapters in the first half of the book detail each operational risk type along with its causative and contributing factors. The second half of the book takes an overarching approach to the tools and solutions available to financial institutions to manage such events in the future. From technology, to culture, to governance, and more, this book does more than simply identify the problem—it provides real-world solutions with actionable insight.

Expert discussion identifies the tools financial institutions have at their disposal, and how these tools can be leveraged to create an environment in which catastrophic events are prevented or mitigated. In-depth insight from an industry specialist provides thought-provoking guidance for leaders seeking more effective risk management, and specifically addresses how to:

• Analyze major operational risk incidents and their underlying causes
• Investigate the tools that allow organizations to prevent and mitigate catastrophic events
• Learn how culture and governance can be optimized to support effective risk management
• Identify ways in which cognitive technologies could help your firm avoid losses

Cognitive technologies have the potential to revolutionize the way business is done; eliminating the speed/cost/quality trade-off, these new and emerging tools are heralding the next leap in the evolution of risk management. Rogues of Wall Street shows you how bring these tools into your organization, and how they can contribute to your financial success.

Keywords: risk management; risk failure; risk errors; cognitive technology; finance technology; banking technology; risk management technology; financial services risk; risk mitigation strategy; operational risk; risk incidents; major risk events; Rogue Trading; London Whale; mortgage crisis; risk management tools; risk governance framework; preventing risk errors; catastrophic risk failure; risk losses; mitigating losses; mitigating risk; Cognitive Risk: How to Manage Operational Risk in the Cognitive Era; Andrew Waxman