Contingent Convertible Bonds

Contingent convertible bonds, known as “CoCos” or “CoCo bonds”, are bonds issued by a bank or an insurance company that convert into common equity, or are subject to a write-down, at pre-specified trigger levels as soon as the bank enters a life-threatening situation. Conversion, or the write-down, happens via a predefined trigger mechanism, e.g., when core Tier-1 capital (CT1) falls below five percent.  READ ARTICLE


Myron S. Scholes Preface to EoRM

I think that the concept of the Crouhy, Galai and Mark book on The$ Essentials of Risk Management is brilliant.  In my career as an  academic and in investment management, I found that there is too large  a separation between the technocrats who build risk?management  models and systems and those who should be using them.  READ ARTICLE


Insuring vs Self insuring OpRisk

Operation Risk refers to low-frequency, high-severity, events that threaten the solvency of a bank and contribute to the tail of its loss distribution. Operational risk is unlike market and credit risk; by assuming more of it, a financial firm cannot expect to generate higher returns.  READ ARTICLE


Making Risk Transparent

Regulators and rating agencies have worked to make the risk of financial firms transparent to key stakeholders. A key challenge has been to benchmark the quality of a risk management programme in terms of both a risk governance perspective as well as the value-add that such a programme provides for revenue-generating business units  READ ARTICLE


Changing the Narrative

Managing Risk in the Era of Fintech. A presentation by Dr. Bob Mark Managing Partner Black Diamond Risk Enterprises. Thomas Day Managing Director Price Waterhouse Coopers. Steve Lindo Principal, SRL Advisory Services. READ ARTICLE

big_pdfSébastien Lleo, CFA
Imperial College London

Risk Management: A Review
The Research Foundation of CFA Institute Literature Review.

big_pdfIntelligent Risk
A Stress Testing Perspective

Insights on risk management to the global risk community
Michel Crouhy, Dan Galai, Robert Mark