The Essentials of Risk Management, Third Edition, 3rd Edition

AFTERWORD

Trends in Risk Management

In this final chapter of the book, we highlight some of the major trends in risk management in financial and nonfinancial firms. Some of these trends are also described in the previous chapters as part of the evolution of risk management from the twentieth century. Here we also provide our personal views and expectations, like we did in the previous two editions of the book.

In the decade since the publication of the second edition of this book, companies both within and outside the financial services industry have had to contend with new challenges, following the expansion of the concept of risk beyond the narrow confines for which risk management was originally conceived. In the past, risk was viewed narrowly ...