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Administration August 10, 2009
Risk Managers Answering More for Their Actions
August 10, 2009 (PLANSPONSOR.com) - A survey of
quantitative finance and risk management professionals by
7city Learning showed an increased focus on risk management
over the last 12 months in the wake of the financial
crisis.
Reported by Rebecca Moore
According to a press release, 61% of those working as
quants or risk managers stated that they are being asked
for more explanation than previously around validation or
explanation of their techniques. More than half (55%) of
respondents said they are being consulted more on risk
management issues, with 35% of them saying they are being
consulted much more often.
Almost all (95%) respondents indicated they feel risk
management is the same, if not a greater, part of their
job, and (36%) of respondents said risk management is a
greater part of their job
The survey sample was comprised of a random
selection of alumni from 7city’s Certificate in
Quantitative Finance (CQF) course, primarily quantitative
finance and risk management professionals from global
financial institutions.
According to the press release, Steve Young, a CQF alumni
and portfolio manager, noted: “Since the beginning of the
financial crisis last year, I’ve found that as a quant,
risk management has become an even greater part of my
day-to-day responsibility within my firm. I think
the survey results point toward the need for quantitative
finance professionals to make sure they have an
applicable understanding of risk management rather than a
theoretical one.”