In view of the fact that information security focuses on risk management, coupled with my interest in the financial field, I began to have the idea of ??taking an FRM qualification certification in 2015, and bought related books and videos, as well as FRM level one courses. After listening to it again, FRM focuses on financial derivatives planning and risk hedging, and contains a lot of mathematical formulas and statistical calculations. It is still difficult for me who has a headache in mathematics. I wanted to go around and learn about finance systematically, so I enrolled in Kelley's mf.

In the past two days, I have been taking the risk management course of Mr. Wang Yong. As a CFA and FRM certificate holder, Dr. Wang Yong is the former vice president of the Royal Bank of Canada and the chief risk officer of Everbright Securities. He has both theory and knowledge. I am a practical person. I originally wanted to ask about the value of FRM. Since I am a certificate holder, there is no need to ask.

Financial markets and financial institutions were quickly passed by, as were market pricing models, efficient investment portfolios, asset marginal curves, and classic investment pricing and calculation models. After all, these three courses all involved to relevant content. The focus of the morning on the first day was on the sharing of useful information on the risk control pyramid model. From the functional risk governance model of strategy, tactics, and operations to the organizational construction model, it indeed provided an operational solution to the entire risk governance framework from the perspective of governance. The plan, in fact, also has important reference value for information security governance.

In the afternoon of the first day, Teacher Wang Yong got the lesson plan wrong and mistook the four-day course for two days. He rushed to explain derivatives products, including futures, options, forwards, and swaps. , I didn’t have time to elaborate on the pricing and structure. I went to bed at two o’clock the day before yesterday, and I ran out of coffee in the afternoon. My brain was really not working well, I was very sleepy, and I didn’t gain much.

This morning is a discussion of yesterday’s derivatives, the pricing and operation process of forwards, currency swaps and interest rate swaps, equivalent calculations based on value, the value-preserving properties based on floating interest rates and fixed interest rates. Different maturities enable flexible allocation of maturities, which is also an image realization of the swap concept. For financial formulas, the calculation of value through the derivation of discounted cash flow is a method that is error-free in operation. Looking for arbitrage opportunities based on high value calculation parameters and estimates, the principle of holding assets with overvalued parameters makes complex problems simple and clear. It also makes it clear that the core of risk management is to reduce risks to a controllable level by paying costs. The loss range locks in relatively stable gains.

In order to further develop the calculation of derivatives and risk control management, the afternoon course popularized the financial applications of blockchain and Bitcoin, focusing on popularization. For me, I still look forward to next time Discussion on application in Hangzhou.