By the end of this training course, trainees will be able to: -       Identify the component of market risk and their measurement approaches. -       Calculate specific measures of interest rate risk, FX risk, equity and commodity risks. -       Compare market risk management for a trading book versus banking book structures. -       Compare and contrast different risk measurement techniques (e.g., gross/net exposure, concentration measure, value at risk (VaR), expected shortfall, etc.). -       Compare the different VaR methodologies (parametric, historical simulation and Monte Carlo simulation) and describe the advantages and disadvantages of each methodology. -       Calculate a simple VaR to a single position (Parametric and Historical Simulation) and expected shortfall measures. -       Define market risk stress testing and its importance. -       Define stress testing techniques for trading exposures (e.g., FX, interest rate, equity commodity). -       Describe Asset Liability Management (ALM) in terms of the scope and its importance to banks. -       Identify the main ALM tools including IRR mismatch management and performance management, funds transfer pricing, and liquidity management. -       Describe the elements of market risk governance and risk management process. -       Identify the components of market risk policy, limit setting and risk appetite frameworks.