Volume 7 (2013-14)

Each volume of Journal of Risk Management in Financial Institutions consists of four quarterly 100-page issues. The articles published in Volume 7 were:

Volume 7 Number 4

  • Managing differences in economic and regulatory capital: An examination of return of equity maximising strategies
    Bogie Ozdemir, VP and Evren Cubukgil, AVP, Sun Life Financial
  • The role of banking supervisors in identifying emerging systemic risk
    Stephen Jenkins, SVP, Bank Supervision and Stephen Ong, VP, Banking Supervision and Regulation, Federal Reserve Bank of Cleveland
  • Key lessons for banking risk management following the financial crisis
    Madelyn Antoncic, VP and Treasurer, World Bank
  • Credit ratings as indicators of implicit government support for global systemically important banks
    Michel Araten, Managing Director, Credit Risk Capital Advisory
  • UK banks face huge investments to comply with Bank of England stress test
    Christian Thun, Senior Director, Strategic Business Development (EMEA), Moody’s Analytics
  • Internal audit’s role in the risk assessment process at KeyCorp
    Christian Trudell, Senior Manager, Risk Review Group (Internal Audit), KeyCorp
  • Forecasting lifetime credit losses: Modelling considerations for complying with the new FASB and IASB current expected credit loss models
    Joseph McPhail, Financial Risk Consultant, Ernst & Young and Lihong McPhail, Financial Economist, Office of Regulatory Policy, Farm Credit Administration
  • Intraday liquidity management and reporting: How to meet the challenges
    Carlo R. W. de Meijer, Economist and Senior Researcher for Market Engagement and Ludy Limburg, VP, International Cash Management Financial Institutions Product Team, Royal Bank of Scotland
  • An analysis of the determinants of S&P ratings assigned to Canadian firms: Application of a multinomial logit
    Walid Amdouni, Corporate Credit Analyst, Moneris Solutions and Issouf Soumaré, Professor of Finance and Managing Director, Laboratory for Financial Engineering, Université Laval
  • The Butterfly Defect: Why globalisation creates systemic risks and what to do about it
    Ian Goldin, Professor of Globalisation and Development and Director, Oxford Martin School, University of Oxford


Volume 7 Number 3

  • Managing performance using a dual measure framework
    Bogie Ozdemir, VP, Risk Modelling and Governance, Evren Cubukgil and Huaxing Xia, Corporate Risk Management, Sun Life Financial Group
  • Managing operational risk: Moving towards the advanced measurement approach
    Peter McCormack, former Technical Specialist, Enterprise Wide Risk Management and Corporate Governance, Bank of England Prudential Regulation Authority, Andrew Sheen, Head of Operational Risk Use Test, Advanced Measurement Approaches, HSBC and Philip Umande, Head of Operational Risk Modelling and Analytics, Lloyds Banking Group
  • On the Single Supervisory Mechanism
    Thomas Dietz, professor, University of Applied Sciences, Deutsche Bundesbank
  • The challenges of the leverage ratio
    Simon Samuels, Managing Director and Equity Analyst, Barclays
  • Reputational risk in banking and finance: An issue of individual responsibility
    Ingo Walter, President, SimCorp StrategyLab and Seymour Milstein Professor of Finance, Corporate Governance and Ethics, New York University Stern School of Business
  • How should insurers' foreign branches be supervised?
    Shinya Kobayashi, Associate Administrator, International Association of Insurance Supervisors
  • Chief risk officers: The high wire act in the financial sector
    John Bugalla, Managing Principal, ermINSIGHTS, James Kallman, Professor of Finance, St Edward’s University and Kristina Narvaez, President and CEO, ERM Strategies
  • Systemic risk in central counterparty clearing houses
    Author wishes to remain anonymous
  • Book review: Strategic Innovations in Risk Management
    Allan Grody, President, Financial InterGroup


Volume 7 Number 2 - Special issue – is there a role for behavioural finance in risk management and banking regulation?

  • Measuring an investor’s risk tolerance to deliver the appropriate combination of risk and return
    Greg B. Davies, Managing Director, Head of Behavioural and Quantitative Investment Philosophy and Peter Brooks, Vice President and Behavioural Finance Specialist, Barclays
  • Using behavioural research to anticipate risk model failure
    Jean Czerlinski Whitmore
  • Rumour has it: Modelling credibility, reputation and franchise risk
    Jorge R. Sobehart, Managing Director, Citi Risk Architecture
  • The impact of heuristics on the practice of risk management: The example of default probabilities
    Donald R. van Deventer, Founder, Kamakura and Tom Zimmerman, Harvard University
  • The role of models in economics and risk management
    David M. Rowe, Senior Strategist, Risk and Regulation, Misys
  • Regulating fraud in financial markets: Can behavioural designs prevent future criminal offences?
    Lars Hornuf, Founding Partner, Academicon and Georg Haas, University of Munich
  • Perspectives on risk management and behavioural finance
    David Hillson, The Risk Doctor, J.R. Sobehart, Managing Director, Citi Franchise Risk Architecture, Irina Ursachi, Assistant Manager, KPMG and Frank Riedel, Director, Center for Mathematical Economics, Bielefeld University
  • Reckless endangerment: The failure of HBOS
    Pat McConnell, Honorary Fellow, Macquarie University Applied Finance Centre
  • How coercion may cure the hangover in financial benchmark governance
    Justin O’Brien, Visiting Lab Fellow, Edmond J. Safra Centre for Ethics, Harvard University
  • From hubris to nemesis: Irish banks, behavioural biases and the financial crisis
    Michael Dowling, Lecturer in Finance, Dublin City University and Brian M. Lucey, Professor, Trinity College Dublin
  • Homo Heuristicus in the financial world: From risk management to managing uncertainty
    Hansjörg Neth, Björn Meder, Amit Kothiyal, Gerd Gigerenzer, Center for Adaptive Behavior and Cognition, Max Planck Institute for Human Development


Volume 7 Number 1 - Special issue on stress testing

  • Guest editorial
    Gregory Hopper, Managing Director, Goldman Sachs
  • The use of stress scenarios in market risk economic capital
    Alan Smillie, Head of Capital and Rating Methodology, Eduardo Epperlein, Global Head of Risk Methodology and Triyog Pandya, Capital and Rating Methodology, Nomura
  • Stress testing for supervisory purposes: The framework and challenges
    Joseph Cox, Financial Analyst and Lisa Ryu, Deputy Associate Director, Division of Banking Supervision and Regulation, Board of Governors, Federal Reserve System
  • Stress test design
    Eduardo Canabarro, Managing Director, Global Head of Quantitative Risk, Morgan Stanley
  • Stress tests to promote financial stability: Assessing progress and looking to the future
    Rick Bookstaber, Research Principal, Office of Financial Research, Jill Cetina, Financial Economist, Office of the Comptroller of the Currency, Greg Feldberg, Research and Analysis Center, Mark Flood, Research Principal, Office of Financial Research, US Department of the Treasury and Paul Glasserman, Professor, Columbia Business School
  • Stress testing bank profitability
    Michael Duane, Principal, Finance and Risk Practice, Til Schuermann, Partner, Finance and Risk and Peter Reynolds, Partner, Finance & Risk, Oliver Wyman
  • The art and science of stress testing
    Greg Hopper, Managing Director, Goldman Sachs
  • Macrofinancial stress testing: Incorporating systemic risk perspectives into a stress testing framework
    Hiroko Oura, Senior Economist and Liliana Schumacher, Senior Economist, International Monetary Fund
  • A view from the top: The interaction between solvency and liquidity stress
    Claus Puhr, Head of Systemic Risk Assessment Unit, Financial Markets Analysis and Surveillance Division and Stefan W. Schmitz, Economist, Austrian Central Bank