With practical guidance and advice throughout, including key excerpts from international financial authorities, this book details all you need to know to ensure your organisation avoids the various pitfalls of operational risk. It provides rigorous instruction and information including:

• Basic responsibilities and systems at all levels.
• Specific demands of numerous deal types and products, from capture to clearing.
• Reconciliations and investigations.
• Risk management, identification and control.

In the aftermath of the 2008-2009 financial crisis, there has never been a more important time for institutions to ensure they are secure from the hazards of operational risk. This book is written by an expert in the field of operations, a former designer of the ACI Dealing Certificate with over twenty years' senior treasury experience, and should help ensure that any organisation both survives and thrives in the face of widespread daily hazards.

With so many banks offering similar products and pricing, accurate and speedy settlements have become a competition issue not to be ignored. The first two editions of this book became the benchmark references for best practice in back office procedures, and this new edition builds on this solid foundation to offer a fully updated and revised guide.

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An excellent new history ... impressively broad and richly researched.
- John Authers, Financial Times

Fascinating and entertainingly told. ... Mr Fox has written a worthy successor to Capital Ideas, the late Peter Bernstein's 1990s classic on the emergence of the rational-market myth: bang up-to-date; alas, without the happy ending.
- The Economist

Mr. Fox's book is really a lively chapter in the history of ideas ... Among much else, Mr. Fox presents lucid explanations of Portfolio Theory, the Capital Asset Pricing Model and Option Pricing Theory without the use of a single equation. And he brings the major players in his drama to life with an appealingly breezy style. ... With The Myth of the Rational Market Mr. Fox has produced a valuable and highly readable history of risk and reward.
- Burton G. Malkiel, The Wall Street Journal

An engaging history
- Joe Nocera, The New York Times

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