There have been a number of instances in the last few years where poor risk management led to multi -billion dollar financial losses, and in one noteworthy instance, the declaration of bankruptcy by MF Global.
Describing the company, their history, and their area of specialty. Give an overview of what the general risk management controls were for the company, how they were found to be deficient, what might have been done to prevent the situation from happening, and what steps were taken to address the issues and problems once they became apparent. Include an estimate of the dollar cost that the company ended up incurring due to flawed risk management processes and procedures.
The company that should be used as subject for this paper is JP Morgan.