'As a guide for practitioners by practitioners, The Practice of Risk Management is a unique contribution to the risk management community.' - Yong Li, Director GARP- Global Association of Risk Professionals. The first book of its kind to describe the firmwide risk management landscape in two leading financial institutions- SBC Warburg Dillon Read and Goldmans Sachs. In 20 chapters it covers: the context of risk management, risk management in the real world, and the changing world of risk management. It details: risk reports, risk capital management, stress test reports, hot spots reports, best replicating portfolio reports and implied view reports. It also examines capital allocation and capital investment and a general framework of measuring risk adjusted performance presented. With a preface by Gerald E. Corrigan. Authors: SBC Warburg Dillon Read and Goldman Sachs.