In a world of economic capital, risk-weighted assets and net stable funding ratios, it’s refreshing to come across a simpler risk management benchmark: “Our metric of success is ‘no surprises’: no surprises in terms of the impact on the firm of any individual behaviour or outside event,” says Barry Zubrow, chief risk officer at JP Morgan Chase in New York.
Using that metric, JP Morgan’s risk function was wildly successful in 2011. While its peers endured rogue traders, eurozone rumours, funding
- Asia moves: Natixis sales head moves to Barclays, new banking head for StanChart Singapore, and more
- Functional programming reaches for stardom in finance
- Banks use machine learning to ‘augment’ corporate sales
- Banks hope final FRTB rules will ease NMRF burden
- Buy-siders eye ways to get ahead of US resolution stay rules