Risk Managers Answering More for Their Actions

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.”