G
Georgina
Member
Hi
I'm having some trouble understanding the difference between Risk Assessment and Risk Evaluation in Chapman's Risk Management Process (page 108).
In particular I'm trying to think which chapters in the ST9 notes relate to each stage of the process.
From what I can tell risk evaluation is considering the impact of risks at an aggregate level, therefore the relevant chps are
- copulas and correlations
- scenario testing
- use of models
- economic capital (maybe)
Whereas risk assessment is at the individual risk level. Relevant chps include
- Ch 11 Risk quantification
- VaR, time series (maybe), credit risk models, operational risk models etc
- extreme events
Does anyone have a different understanding?
Cheers
Georgina
I'm having some trouble understanding the difference between Risk Assessment and Risk Evaluation in Chapman's Risk Management Process (page 108).
In particular I'm trying to think which chapters in the ST9 notes relate to each stage of the process.
From what I can tell risk evaluation is considering the impact of risks at an aggregate level, therefore the relevant chps are
- copulas and correlations
- scenario testing
- use of models
- economic capital (maybe)
Whereas risk assessment is at the individual risk level. Relevant chps include
- Ch 11 Risk quantification
- VaR, time series (maybe), credit risk models, operational risk models etc
- extreme events
Does anyone have a different understanding?
Cheers
Georgina