In this second edition of their critically acclaimed The Essentials of Risk Management (McGraw-Hill, 2014) authors Michel Crouhy, Dan Galai, and Robert Mark update their work to reflect lessons learned from the financial crisis. The authors focus on the banking industry, but they consider issues in nonfinancial corporate risk management as well.
The book, which runs some 650 pages long, is a veritable encyclopedia. Its seventeen chapters cover such topics as banks and their regulators, corporate governance and risk management, theory of risk and return, interest rate risk and hedging with derivative instruments, measuring market risk, asset/liability management, credit scoring and retail credit risk management, commercial credit risk, quantitative approaches to credit portfolio risk and credit modeling, the credit transfer markets, counterparty credit risk, operational risk, model risk, stress testing and scenario analysis, and risk capital attribution and risk-adjusted performance measurement.
As the chapter titles indicate, it is not light reading. The book is probably best viewed as either a textbook or a reference book.