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Managing Risk

In: Understanding Risk Management and Hedging in Oil Trading

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  • Chris Heilpern

Abstract

The goal of a trader and the company he works for is to make money while limiting risks to acceptable levels. It’s up to the trader and the company to decide just how far they go in managing risk and how much they try to reduce it. As with most things in business, risk management starts with people. A company needs experienced traders, expert operators, and qualified back and middle office staff. Management needs to have a basic understanding of trading in order to decide which risks are acceptable. Systems need to be put in place including dedicated software and procedures. Trading churns large sums of money so a key to trading is a competent finance department that can access working capital and protect payments and assets.

Suggested Citation

  • Chris Heilpern, 2023. "Managing Risk," Springer Books, in: Understanding Risk Management and Hedging in Oil Trading, chapter 0, pages 23-48, Springer.
    • Handle: RePEc:spr:sprchp:978-3-031-44465-4_4
    DOI: 10.1007/978-3-031-44465-4_4
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