@article {Golub84, author = {Bennett W. Golub and Conan C. Crum}, title = {Reflections on Buy-Side Risk Management After (or Between) the Storms}, volume = {36}, number = {4}, pages = {84--92}, year = {2010}, doi = {10.3905/jpm.2010.36.4.084}, publisher = {Institutional Investor Journals Umbrella}, abstract = {This article highlights and emphasizes the importance of eight specific principles of risk management. The credit crisis of 2007{\textendash}2009 has clearly reaffirmed the importance of a strong and effective risk management function, and these eight principles will help buy-side institutions think through their risk management organizations. In this article, Golub and Crum make the case for the importance of institutional buy-in, alignment and management of institutional interests, getting risk takers to think like risk managers, a fully engaged but independent risk management organization, understanding fiduciary obligations, bottom-up risk management, and constant monitoring of risk models for accuracy and relevance{\textemdash}and that risk management does not mean risk avoidance.TOPICS: VAR and use of alternative risk measures of trading risk, risk management}, issn = {0095-4918}, URL = {https://jpm.pm-research.com/content/36/4/84}, eprint = {https://jpm.pm-research.com/content/36/4/84.full.pdf}, journal = {The Journal of Portfolio Management} }