📕 BOOK 1: Foundations of Risk Management

1. The Building Blocks of Risk Management — Understand types of risk, risk interactions, and the core risk management process.

2. How Do Firms Manage Financial Risk? — Learn corporate risk strategies: accept, avoid, mitigate, and transfer risk.

3. The Governance of Risk Management — Understand regulatory frameworks, board roles, CRO functions, and risk governance.

4. Credit Risk Transfer Mechanisms — Learn securitization, credit derivatives, and risk transfer structures.

5. Modern Portfolio Theory and the Capital Asset Pricing Model — Understand diversification, efficient frontier, CAPM, and systematic risk.

6. The Arbitrage Pricing Theory and Multifactor Models of Risk and Return — Learn multi-factor pricing of assets and risk factor modeling.

7. Principles for Effective Risk Data Aggregation and Risk Reporting — Understand BCBS 239 principles for data quality and reporting systems.

8. Enterprise Risk Management and Future Trends — Learn firm-wide integrated risk management and future ERM evolution.

9. Learning from Financial Disasters — Analyze real financial failures to understand risk breakdowns.

10. Anatomy of the Great Financial Crisis of 2007–2009 — Understand causes, transmission mechanisms, and systemic risk.

11. GARP Code of Conduct — Learn ethical standards and professional responsibilities of risk professionals.

📘 BOOK 2: Quantitative Analysis

1. Fundamentals of Probability — Build probability foundations for risk modeling and inference.

2. Random Variables — Understand discrete and continuous variables in financial modeling.

3. Common Univariate Random Variables — Learn key financial probability distributions and their uses.

4. Multivariate Random Variables — Understand joint distributions, covariance, and correlation structures.

5. Sample Moments — Learn statistical estimation of mean, variance, skewness, and kurtosis.

6. Hypothesis Testing — Apply statistical testing for decision-making under uncertainty.

7. Linear Regression — Model financial relationships using OLS regression.

8. Regression with Multiple Explanatory Variables — Analyze multi-factor regression models and model fit.

9. Regression Diagnostics — Detect model errors, bias, heteroskedasticity, and multicollinearity.

10. Stationary Time Series — Model financial time series with AR, MA, and ARMA processes.

11. Non-Stationary Time Series — Understand trends, unit roots, differencing, and forecasting.

12. Measuring Returns, Volatility, and Correlation — Measure financial risk using returns, volatility, and dependence.

13. Simulation and Bootstrapping — Apply Monte Carlo simulation and resampling techniques.

📗 BOOK 3: Financial Markets and Products

1. Banks — Understand banking risks, regulation, capital, and business models.

2. Insurance Companies and Pension Plans — Learn insurance products, longevity risk, and pension structures.

3. Fund Management — Understand mutual funds, ETFs, hedge funds, and fund strategies.

4. Introduction to Derivatives — Learn basic derivative instruments and their market roles.

5. Exchanges and OTC Markets — Understand market structures, CCPs, and counterparty risk.

6. Central Clearing — Learn clearing mechanisms and systemic risk reduction.

7. Futures Markets — Understand futures contract structure and exchange operations.

8. Using Futures for Hedging — Apply futures for risk hedging and exposure management.

9. Foreign Exchange Markets — Understand FX markets, risks, and parity relationships.

10. Pricing Financial Forwards and Futures — Learn no-arbitrage pricing models.

11. Commodity Forwards and Futures — Understand commodity markets, storage, and convenience yield.

12. Options Markets — Learn options trading, structures, and market mechanics.

13. Properties of Options — Understand payoff relationships and pricing bounds.

14. Trading Strategies — Apply option strategies for risk and return engineering.

15. Exotic Options — Understand complex option structures and payoff customization.

16. Properties of Interest Rates — Learn interest rate structures and term structure theory.

17. Corporate Bonds — Understand bond issuance, credit risk, and bond valuation.

18. Mortgages and Mortgage-Backed Securities — Learn MBS structure, prepayment risk, and valuation.

19. Interest Rate Futures — Understand IR futures pricing and duration hedging.

20. Swaps — Learn interest rate swaps, currency swaps, and valuation methods.

📙 BOOK 4: Valuation and Risk Models

1. Measures of Financial Risk — Understand risk metrics: variance, VaR, ES, and coherent risk measures.

2. Calculating and Applying Value at Risk — Learn VaR models and implementation techniques.

3. Measuring and Monitoring Volatility — Model volatility using GARCH and implied volatility.

4. External and Internal Credit Ratings — Understand rating systems and transition models.

5. Country Risk: Determinants, Measures, and Implications — Analyze political, economic, and sovereign risk.

6. Measuring Credit Risk — Apply structural and portfolio credit risk models.

7. Operational Risk — Model operational losses and regulatory frameworks.

8. Stress Testing — Apply scenario analysis and regulatory stress testing.

9. Pricing Conventions, Discounting, and Arbitrage — Apply no-arbitrage valuation principles.

10. Interest Rates — Understand spot, forward, and swap rate structures.

11. Bond Yields and Return Calculations — Analyze bond returns, carry, and roll-down.

12. Applying Duration, Convexity, and DV01 — Measure interest rate sensitivity and hedging.

13. Modeling Non-Parallel Term Structure Shifts and Hedging — Apply PCA and key rate duration.

14. Binomial Trees — Price derivatives using discrete-time models.

15. The Black-Scholes-Merton Model — Price options using continuous-time no-arbitrage models.

16. Option Sensitivity Measures: The “Greeks” — Measure and hedge option risk exposures.

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