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Towards better financial risk learning

Author

Listed:
  • Waldvogel, Anna
  • Whelan, Niall

Abstract

As recent events have shown, finance professionals need to be as comfortable with risk concepts like liquidity and capital as they currently are with business concepts like compound interest and variable annuities. The firm that succeeds in integrating risk awareness into its business activities has a decided advantage over its competition. Attaining this degree of risk knowledge requires innovative learning approaches drawn from technical communication, presentation, knowledge management and training, as this paper explores. Although external risk training is available within the finance industry, this paper proposes that the interpretation and application of risk concepts are unique to the organisation and will necessarily require customised in-house training. Such a complex effort demands executive sponsorship, and partners within risk management and multiple business units. This paper highlights two financial risk concepts — economic capital and potential future exposure — and proposes practical learning recommendations for each.

Suggested Citation

  • Waldvogel, Anna & Whelan, Niall, 2008. "Towards better financial risk learning," Journal of Risk Management in Financial Institutions, Henry Stewart Publications, vol. 1(4), pages 382-393, September.
    • Handle: RePEc:aza:rmfi00:y:2008:v:1:i:4:p:382-393
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    More about this item

    Keywords

    financial risk management; financial institutions; credit risk; learning strategy; training; economic capital; potential future exposure; technical communication;
    All these keywords.

    JEL classification:

    • G2 - Financial Economics - - Financial Institutions and Services
    • E5 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit

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