From the Inside Flap
Tighter financial regulations, business scandals, investment losses, shareholder lawsuits, and market volatility have put fiduciaries, and their advisors, in the spotlight like never before. This is especially true for pensions, endowments, and foundations that collectively control trillions of dollars in assets on behalf of beneficiaries. To manage the financial risk, those involved in or affected by endowment, foundation, and pension fund investment decision-making must have a firm understanding of performance assessment basics, derivative instruments, and risk measurement and control techniques.
Risk Management for Pensions, Endowments, and Foundations is a nontechnical primer that offers intuitive and straightforward information about risk management for plan sponsors, trustees, board members, regulators, auditors, attorneys, consultants, financial analysts, beneficiaries, fundraisers, journalists, grant-makers, and investor relations specialists.
Organized into four comprehensive parts, this book:
- Provides a corporate governance rationale for risk management education and describes why tax-exempt investors might consider using derivative instruments
- Examines the basics of risk, futures, options, and swaps, including case studies specific to endowments, foundations, and pensions
- Addresses the risk management process from start to finish, with special emphasis on its dynamic nature
- Comments on the operating environment, which is currently changing
Filled with examples, checklists, and end-of-chapter summaries, Risk Management for Pensions, Endowments, and Foundations provides clear guidance with regard to derivative instruments, risk management concepts, and special concerns such as valuation and reporting.
From the Back Cover
Praise for Risk Management
for Pensions, Endowments, and Foundations
"The role of the fiduciary is more complicated than ever. Simply recognizing the numerous types of financial investment and legal risks and how they uniquely relate to pension plans, endowments, and foundations is a challenge. Susan Mangiero simplifies this maze in an easy-to-understand fashion in a book that should be a core reading for any trustee."
President and CEO, Global Association of Risk Professionals, Inc.
"Susan Mangiero knows how to synthesize the elements of financial risk for the novice fiduciary. Whether serving on the audit or investment committee of a pension plan, endowment, or foundation, this book provides valuable insights into the fundamentals of risk assessment, risk measurement, and risk management."
Suzanne M. Crosby, PhD
Institutional Sales for Foundations & Endowments, Merrill Lynch
"As a legal advisor to nonprofit directors and trustees, I found Susans book to be a succinct and clear articulation of the basic principles that every fiduciary needs to understand. It is a resource that I will call upon frequently and refer to others."
John M. Horak, Esq.
Chairman, Nonprofit Practice Group, Reid and Riege, PC
"In this era of increased nonprofit transparency and accountability, it is more important than ever that private foundation leaders act as responsible stewards of their organizations assets. Susan Mangieros clear, accessible text on risk management will help foundation decision makers accomplish this vital task more effectively."
Robert G. Ottenhoff
President and CEO, GuideStar
"I read Susan Mangieros book from cover to cover. It is a must-read for all pension fund trustees, particularly for fiduciaries who seek knowledge, without intimidation, on the important topic of risk management and corporate governance as a foundation for effectively fulfilling their fiduciary duties."
Cynthia L. Richson
Corporate Governance Officer, Ohio Public Employees Retirement System