Discover and read the best of Twitter Threads about #iso31000

Most recents (5)

Most of the #ERM Units / Desks at banks hire Actuaries as Quantitative Risk Experts in either the front or the middle offices.
However, to be a CRO, you ideally ought to know the business model risks, credit underwriting risks (if you are working at a Commercial Bank),
the governance, risk and compliance issues, IT/Data and Cybersecurity related Risk Issues, risk culture, risk attitudes, risk conduct and risk change management processes, DRP and BCP, and the Non -Financial Operational Risks in addition to quantifiable risks such as Credit,
Market and Liquidity Risks that exists across financial markets and asset class/es.
Read 10 tweets
What should I know about risk management for a job interview with an asset management and securities brokerage firm?
@IOSCOWIW @efc_global @MarketIntegrity @GARP_Risk
You need to know everything about Capital Markets at least.

Investment Banking and Asset Management Sector /brokerage require an exceptional understanding of debt and equity market instruments and asset classes.
Sound knowledge of derivative markets will add to your CV.
Read 15 tweets
There is an obscure problem when you join the BIG-4 Advisory or auditing, or consulting side of the profession within the services sector.
Most of the co-workers come from an #Accounting background, which makes things awfully difficult to communicate and interpret.
I remember working with an #Audit Expert, having a BIG-4 background.
The chap didn't understand anything except for debit, credit, and fraud risk.
The assignment required to be sophisticated Actuarial Finance, Mathematics, and Econometric Skill Sets to understand the GAPS.
Hence, the biggest problem in the Financial Risk Management, #ERM, Quantitative Risk Management, and other FE Financial Engineering related risk management processes, when working with a #BIG4 Firm, is the interaction with Accountants and Auditors who have their own Lingua Franca
Read 12 tweets
Which are some stylized failures of Risk Management?
It is the only subject when turned into a profession, which fails to deliver in SVA terms in most of the cases, as witnessed now outside the Insurance Sector
Insurance is a different game because the profession is led by well-trained quantitative professionals such as Actuaries
Why it has not worked well outside the Insurance Sector/s?
The multiple reasons for the failure of Risk Management and Auditing Departments at firms could be the following =>
Read 20 tweets
Does #risk management involve a lot of maths?
Yes and No!

It's a well-rounded discipline.
For #Actuarial, Insurance, Financial Engineering, Quantitative Finance and Investment Management, Mathematical Trading, and Financial Risk Assignments, you might require a lot of Maths and Statistics.

Is like asking whether we need milk and sugar for making ice cream ;)
Read 9 tweets

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