This is a practitioner's seminar, which means that we approach risk management from an applied perspective. The practice of risk management has evolved materially over the recent years. The "three lines of defense" model is now applied in most financial and other large institutions. We will cover the following topics:
- The application of the three lines of defense model in a specific setting (financial institutions)
- The growing importance of the management and control of "non-financial" risk in financial and other institutions
- The use of statistical tools to evaluate financial risks, be that from high-frequency data (market risk) or low frequency data (credit risk)
As this is an applied seminar, the focus will be on practical applications of the material in a business setting. Academic theory will be discussed only to the extent that it is used in practice.