Risk Management is a topic of fundamental importance in financial markets. Quantitative risk management frameworks must be able to identify, quantify, and mitigate risks. There are various sources of risk faced by market participants, including market, credit, liquidity, and operational risk. The global 2007-2009 financial crisis has led to numerous regulatory reforms, which required banks to comply with more stringent capital requirements, including value at risk, expected shortfall, and maximum shortfalls. It also led to the introduction of financial utilities, such as clearinghouses, which collect all risk in the system and insulate each party against the default of the other. This course deals with quantitative modeling and measuring of risk. You will learn how to design risk management procedure which accounts for correlated risk sources, and how to simulate systems to evaluate the resulting risk. We introduce financial instruments that are used to mitigate risk, such as credit default swaps. Time allowing, we also discuss topics of recent interest in the financial industry and the regulatory environment, including systemic risk measures, liquidity coverage ratio requirements to deal with liquidity risk, and procedures to assess funding risk.