The paper discusses the importance of #riskinformed #decisionmaking -and the use of #riskassessment to support decisions. It highlights the need for a more dynamic approach to #riskmanagement, which takes into account #uncertainty, changes in systems, phenomena, or values that could alter the underlying premises of the initial risk assessment.
This study examines the #riskallocation problem in distributed #insurance using #blockchaintechnology, considering different charging methods. Through #gametheory analysis, the research explores the #pareto optimal risk allocation method. The findings reveal that when charges occur during insurance signing, risk is proportionally distributed based on policyholders' #riskaversion coefficient. However, if the platform provider charges a fee proportional to the premium or actual risk, policyholders bear increased risk from others while their own risk is reduced, leading to decreased overall utility. These conclusions provide valuable insights for #blockchain insurance companies regarding user #riskmanagement and allocation.
This paper explores the evolving role of #compliance in #digitaltransformation (#dt), as corporations globally embrace technology to enhance competitiveness and address responsible, #ethical, and #sustainable practices. It analyzes the current and potential role of Compliance in DT, emphasizing the need to manage #governance, #risk, and compliance aspects and leverage #esg objectives. The authors conducted interviews with Compliance heads and facilitated a Salon attended by General Counsel and Compliance professionals. The purpose is to encourage international discussions on Compliance's role in digital transformation.
Chatreport is a tool that enhances #largelanguagemodels (#llms) with #expertknowledge to #benchmark #reports against the Task Force for Climate-Related Financial Disclosures (#tcfd) recommendations.
This paper explores the implementation of the #eu's #digitalservicesact (#dsa) with a specific focus on the #riskassessment and #riskmitigation regime outlined in Articles 34-35"
"We show that past #operationalrisk losses are informative of future losses, even after controlling for a wide range of financial characteristics. We propose that the information provided by past losses results from their capturing hard-to-quantify factors such as the quality of operational risk controls, the #riskculture and the #riskappetite of the #bank."
We provide a #cyberrisk definition and classification scheme for #riskmanagement purposes, to be used as a data collection template for #financialinstitutions.
The #eu Digital Services Act (#dsa) establishes a #riskassessment and #riskmitigation regime to address issues like harmful content and structural discrimination, and codes of conduct are meant to guide interpretation of these obligations.
This paper introduces the application of Deep Reinforcement Learning (#drl) in #alm, addressing limitations of traditional methods reliant on human judgement. The findings highlight the potential of DRL to enhance #riskmanagement outcomes for #insurers, #banks, #pensionfunds, and #assetmanagers, providing improved adaptability to changing market conditions.
The article discusses the limitations of current #ai technologies such as #chatgpt, #largelanguagemodels, and #generativeai, and argues that we need to advance #researchanddevelopment beyond these limitations.