Some believe that VaR creates a false sense of security within an organization, but Tara Skinner argues that when used with other modeling techniques, VaR helps institutions confront their exposure to financial risk and then establishes a proper risk management function.
Firms should still have a contingency plan for rare or extreme events. Stress testing focuses on analyzing risks associated with those events. Read Dr. Mark and Antonis Miniotis’ white paper discussing stress testing and the role it plays.
Myron Scholes and Tom Kimner discuss evolving the analytical process: Today’s advances in computing allow firms to construct highly adaptive models. Read about advances in high-performance analytics that allow risk decisions in near-real time.
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