The boom in derivatives was one of those moments when financial engineering raced ahead of back offices and risk-management departments, leaving them struggling to value or account for their holdings.

ECONOMIST: Securitisation

Volcker did blast Wall Street for misusing risk management tools in their complex financial engineering of the last many years.

FORBES: Regulate All That Leverage

They also want people with a good mix of industrial engineering knowledge and command of supply chains for efficiency, cost savings and risk reduction.

FORBES: Arizona State Joins The Rolls Of Data Science Grad Programs

Derivatives and other tools of financial engineering can be used to manage risk better by hedging positions and transferring unwanted risk to a counterparty, which is what banks say they mostly use them for.

ECONOMIST: New dangers

To conclude, an agreement concerning cooperative research and development in the field of earthquake engineering between the Building Research Institute (BRI) of Japan and the National Center for Seismic Risk Reduction (NCSRR) of Romania was signed.

UNESCO: Disaster Preparedness and Mitigation

Except that if Bankia has really been strengthened by this financial engineering, then there would have to be a very significant transfer of risk to the European Central Bank - and therefore, by implication, to its shareholders, or the other central banks and taxpayers of the eurozone.

BBC: No magic potion for eurozone banks

Indeed, for big, high-value choices, that seems obvious: when Starbucks introduced its instant coffee, or when Applied Materials moved its manufacturing and engineering base to Asia, those decisions involved sizable amounts of resources and significant risk.

FORBES: What Are Your Critical Decisions?