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Risk Management

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Survey of Quants Finds Risk Management Is Larger Part of Role

Since the financial crisis, 36 percent of quants and risk professionals report that risk is a greater part of their job, according to 7City Learning's new survey.

A survey of quants and risk professionals by 7city Learning showed there is an increased focus on risk management over the last 12 months in the wake of the financial crisis.

Thirty-six percent of quants and risk managers stated that risk is a larger part of their role, according to the global financial services training company, which reported the results today

Conducted in June, the survey polled respondents on the effects of the market turmoil over the last year on quantitative finance and risk management.

Among the findings, 61 percent of those working as quants or risk managers said they are being asked for more explanation than the past around validation or explanation of their techniques.

Ninety-five percent felt that risk management was the same, if not a larger part of their job, while 36 percent of respondents felt that risk management was a greater part of their job.

Fifty-five percent said they were being consulted more on risk management issues, and 35 percent of these professionals are being consulted much more often.

The survey sample was comprised of a random sample selection of alumni from 7city's Certificate in Quantitative Finance (CQF) course, which reaches primarily quantitative finance and risk management professionals from global financial institutions.

"The numbers illustrate that risk management is absolutely a critical focus for financial institutions right now," stated Dr. Paul Wilmott, course director for the CQF, in the release. "Quants must understand the application of mathematics to finance in a real-world situation in order to utilize true risk management —this is what we are aiming to teach students as part of the CQF," added Wilmott in the release. Ivy is Editor-at-Large for Advanced Trading and Wall Street & Technology. Ivy is responsible for writing in-depth feature articles, daily blogs and news articles with a focus on automated trading in the capital markets. As an industry expert, Ivy has reported on a myriad ... View Full Bio

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