towards a modern approach to risk management
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TOWARDS A MODERN APPROACH TO RISK MANAGEMENT Alex Hutton - - PowerPoint PPT Presentation

Jan 06, 2024 •241 likes •1.73k views

TOWARDS A MODERN APPROACH TO RISK MANAGEMENT Alex Hutton - @alexhutton I AM HERE ON MY OWN. I AM NOT SPEAKING ON BEHALF OF ZIONS BANCORP First, some inspiration: A New Approach for Managing Operational Risk Addressing the Issues Underlying

  1. The Modern Approach to Risk Management: A Manifesto Premise: Risk Management must provide value, address the need, & be ethical.

  2. The Modern Approach to Risk Management: A Manifesto Clause One: T o be ethical, the risk manager must be, first and foremost, a data scientist.

  3. Statistics & Probability Ryan Gosling Says:

  4. What to study: Sources of Knowledge asset landscape impact landscape risk threat landscape controls landscape

  5. Framework = ∑ ∫ √ Models Data ∩

  6. Framework = ∑ ∫ √ Models Data ∩

  7. We quickly figured out: 94

  8. We quickly figured out: 1.) The means to address the Data system must be data-driven, and 95

  9. We quickly figured out: 1.) The means to address the system must be data-driven, and 2.) We must study the individual parts, 96

  10. We quickly figured out: 1.) The means to address the system must be data-driven, and 2.) We must study the individual parts, then the relationships between parts 97

  11. We quickly figured out: 1.) The means to address the system must be data-driven, and 2.) We must study the individual parts, then the relationships between parts, then and only then we can discuss the whole 98

  12. VERIS+ Framework = ∑ ∫ √ Models Data ∩

  13. VERIS WILL ALLOW US TO: 1.) Describe the elements of banking operations (using Basel-esque high level categorization) 2.) Fully categorize whatever we’re looking at 3.) Collect data in a same to same fashion 100

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