Interview No. 8 with David Ardia: He won the Swiss Risk Award in 2018 and was nominated by Attilio Meucci for his “open source” research approach in quantitative methods for forecasting market risks. Today David is Associate Professor in Quantitative Methods for Finance at HEC Montréal.
❓𝐖𝐡𝐲 𝐢𝐬 𝐫𝐢𝐬𝐤 𝐦𝐚𝐧𝐚𝐠𝐞𝐦𝐞𝐧𝐭 𝐢𝐦𝐩𝐨𝐫𝐭𝐚𝐧𝐭 – 𝐢𝐧 𝐛𝐮𝐬𝐢𝐧𝐞𝐬𝐬 𝐚𝐧𝐝 𝐢𝐧 𝐝𝐚𝐢𝐥𝐲 𝐥𝐢𝐟𝐞?
Risk management is essential because it allows individuals and organizations to identify, assess, and mitigate potential risks that could impact their objectives or operations. By implementing risk management strategies, individuals and organizations can make informed decisions considering potential risks and their impact.
❓𝐈𝐧 𝐛𝐮𝐬𝐢𝐧𝐞𝐬𝐬 – 𝐖𝐡𝐚𝐭 𝐡𝐚𝐯𝐞 𝐲𝐨𝐮 𝐥𝐞𝐚𝐫𝐧𝐭 𝐨𝐧 𝐫𝐢𝐬𝐤 𝐦𝐚𝐧𝐚𝐠𝐞𝐦𝐞𝐧𝐭 𝐭𝐡𝐚𝐭 𝐬𝐡𝐨𝐮𝐥𝐝 𝐛𝐞 𝐬𝐡𝐚𝐫𝐞𝐝?
Risk management is not a one-time event but an ongoing process that must be continually monitored and updated. Risks can change over time, and new risks can emerge, so it’s essential to review and update risk management strategies regularly.
❓ 𝐈𝐧 𝐩𝐫𝐢𝐯𝐚𝐭𝐞 – 𝐖𝐡𝐚𝐭 𝐢𝐬 𝐭𝐡𝐞 𝐛𝐢𝐠𝐠𝐞𝐬𝐭 𝐩𝐞𝐫𝐬𝐨𝐧𝐚𝐥 𝐫𝐢𝐬𝐤 𝐲𝐨𝐮’𝐯𝐞 𝐞𝐯𝐞𝐫 𝐭𝐚𝐤𝐞𝐧?
The one I haven’t noticed.
❓𝐖𝐡𝐚𝐭 𝐚𝐝𝐯𝐢𝐜𝐞 𝐰𝐨𝐮𝐥𝐝 𝐲𝐨𝐮 𝐠𝐢𝐯𝐞 𝐲𝐨𝐮𝐧𝐠 𝐩𝐫𝐨𝐟𝐞𝐬𝐬𝐢𝐨𝐧𝐚𝐥𝐬 𝐢𝐧 𝐫𝐞𝐠𝐚𝐫𝐝𝐬 𝐭𝐨 𝐫𝐢𝐬𝐤?
Learn as much as you can from your mentors and peers. Exposure to diverse backgrounds, mindsets, and situations helps shape agile risk management thinking.
❓𝐒𝐰𝐢𝐬𝐬 𝐑𝐢𝐬𝐤 𝐀𝐬𝐬𝐨𝐜𝐢𝐚𝐭𝐢𝐨𝐧 – 𝐰𝐡𝐲 𝐚𝐫𝐞 𝐲𝐨𝐮 𝐩𝐚𝐫𝐭 𝐨𝐟 𝐭𝐡𝐞 𝐧𝐞𝐭𝐰𝐨𝐫𝐤 𝐚𝐧𝐝 𝐰𝐡𝐚𝐭 𝐢𝐬 𝐲𝐨𝐮𝐫 𝐩𝐞𝐫𝐬𝐨𝐧𝐚𝐥 𝐯𝐚𝐥𝐮𝐞?
While based in Switzerland and interested in risk management, it was a great opportunity to join the network and benefit from experiences, analyses, and viewpoints from practitioners in the field.