Saunders and Cornett's Financial Institutions Management: A Risk Management Approach provides an innovative approach that focuses on managing return and risk in modern financial institutions. The central theme is that the risks faced by financial institutions managers and the methods and markets through which these risks are managed are becoming increasingly similar whether an institution is chartered as a commercial bank, a savings bank, an investment bank, or an insurance company. Although the traditional nature of each sector's product activity is analyzed, a greater emphasis is placed on new areas of activities such as asset securitization, off-balance-sheet banking, and international banking.
PART ONE: IntroductionCh. 1 Why Are Financial Institutions Special?Ch. 2 Financial Services: Depository InstitutionsCh. 3 Financial Services: Finance CompaniesCh. 4 Financial Services: Securities Firms and Investment BanksCh. 5 Financial Services: Mutual Fund and Hedge Fund CompaniesCh. 6 Financial Services: Insurance CompaniesCh. 7 Risks of Financial InstitutionsPART TWO: Measuring RiskCh. 8 Interest Rate Risk ICh. 9 Interest Rate Risk IICh. 10 Credit Risk: Individual Loan RiskCh. 11 Credit Risk: Loan Portfolio and Concentration RiskCh. 12 Liquidity RiskCh. 13 Foreign Exchange RiskCh. 14 Sovereign RiskCh. 15 Market RiskCh. 16 Off-Balance-Sheet RiskCh. 17 Technology and Other Operational RisksCh. 18 Fintech RisksPART THREE: Managing RiskCh. 19 Liability and Liquidity ManagementCh. 20 Deposit Insurance and Other Liability GuaranteesCh. 21 Capital AdequacyCh. 22 Product and Geographic ExpansionCh. 23 Futures and ForwardsCh. 24 Options, Caps, Floors, and CollarsCh. 25 SwapsCh. 26 Loan SalesCh. 27 Securitization
Anthony Saunders received his Ph.D. from the London School of Economics. He is John M. Schiff Professor of Finance and the former chair of the Department of Finance at the Stern School of Business at New York University. Dr. Saunders has taught both undergraduate and graduate level courses at New York University since 1978. Throughout his academic career, his teaching and research have specialized in financial institutions and international banking. He has served as a visiting professor all over the world, including INSEAD, the Stockholm School of Economics, and the University of Melbourne. He is currently on the Executive Committee of the Salomon Center for the Study of Financial Institutions, New York University. His research has been published in all the major money and banking and finance journals and in several books. In addition, he has authored or co-authored several professional books, the most recent of which is Credit Risk Measurement: New Approaches to Value at Risk and Other Paradigms.
Marcia Millon Cornett received a B.S. in economics from Knox College and her M.B.A. and Ph.D. in finance from Indiana University, Bloomington. She is Robert A. and Julia E. Dorn Professor of Finance at Bentley University. Dr. Cornett is co-author with Anthony Saunders of Financial Institutions Management and Financial Markets and Institutions. She serves as an associate editor for the Journal of Banking and Finance, the Journal of Financial Services Research, Review of Financial Economics, Financial Review, and Multinational Finance Journal. Dr. Cornett has served on the board of directors, the executive committee, and the finance committee of the Southern Illinois University Credit Union. Dr. Cornett has taught at Southern Illinois University at Carbondale, the University of Colorado, Boston College, and Southern Methodist University. She is a member of the Financial Management Association, the American Finance Association, and the Western Finance Association.
Otgo Erhemjamts is a Professor of Finance at Bentley University. She received her PhD in Finance from Georgia State University. Her research interests are in corporate social responsibility, sustainable investing, corporate finance, and corporate governance. Her work has appeared in reputable academic journals including the Journal of Business Ethics; Journal of Banking and Finance; Journal of Money, Credit, and Banking; Journal of Financial Research; The Financial Review; and Journal of Risk & Insurance. She teaches graduate and undergraduate courses in investments, equity research, and sustainable investing. Her prior teaching experience includes teaching corporate finance, risk management, and financial institutions courses at Georgia State University, Atlanta, GA.