Study finds more flood risk strategies can improve outcomes in NYC.
problem Managing future flood risks with complex models.
method Used an intermediate complexity model to analyze flood risk strategies.
result More combinations of risk mitigation strategies expand the solution set and improve outcomes.
Study models extreme skew surges along French Atlantic coast.
problem Appropriate modelling of extreme skew surges for coastal risk management.
method Peak-over-threshold framework, multivariate generalized Pareto distribution, extreme regression framework.
result Reconstructed historical skew surge time series at stations with limited data.
Study predicts coastal water quality using machine learning, identifying salinity as key factor.
problem Predicting and managing coastal water quality for public health and tourism.
method Machine learning models (Catboost, Xgboost, Random Forests, Support Vector Regression, Artificial Neural Networks) trained on environmental data.
result Catboost algorithm performed best, with R² values of 0.71 and 0.68 for E. Coli and enterococci predictions.
The study forecasts water quality from satellite data using machine learning.
problem Predicting future water quality from satellite data for coastal regions.
method Decomposed time series into components and used machine learning models (SARIMA, regression, neural network).
result Regression and neural network models are best at predicting Chl-a, SARIMA model best at FLH and SST.
Deep learning improves nearshore bathymetry estimation from sparse data.
problem Estimating nearshore bathymetry from limited and often sparse data.
method Deep Neural Network (DNN) and Conditional Generative Adversarial Network (cGAN) for posterior estimates; Kriging for comparison.
result DNN-based methods outperform traditional Kriging in predicting nearshore bathymetry with sharp gradients.
Arctic coastal morphology is governed by multiple factors, many of which are affected by climatological changes. As the season length for shorefast ice decreases and temperatures warm permafrost soils, coastlines are more susceptible to erosion from storm waves. Such coastal erosion is a concern, since the majority of …
A new model predicts spatially varying inland flooding from time-varying inputs.
problem Ignoring time series and spatial correlations in flood models leads to inaccurate predictions.
method Introduced a multioutput Gaussian process model with separable kernels for functional inputs and spatial locations.
result The model provides accurate predictions of spatially varying inland flooding with minimal computational time.
Predict real-time crash risks during hurricane evacuations using connected vehicle data.
problem Mitigate crash risks during hurricane evacuations by predicting high-risk locations.
method Used connected vehicle data to predict crash risks in real-time, considering weather and traffic features.
result Gaussian Process Boosting and Extreme Gradient Boosting models performed best, with recall of 0.91.
Functional data analysis is a statistical framework where data are assumed to follow some functional form. This method of analysis is commonly applied to time series data, where time, measured continuously or in discrete intervals, serves as the location for a function's value. Gaussian processes are a generalization o…
Paper introduces a framework for managing cyber risk with insurance and cybersecurity models.
problem Pervasive challenges in managing cyber risk, especially for capital allocation.
method Combines insurance frequency-severity models with cybersecurity cascade models for comprehensive cyber risk assessment. Facilitates informed capital allocation through a two-pillar framework.
result Demonstrates the necessity of comprehensive cost-benefit analysis for budget-constrained companies.
This research develops a dynamic risk management system for industrial companies.
problem Risk assessment and management in industrial enterprises.
method Qualitative and quantitative analysis, systematic risk classification, dynamic system development.
result Effective risk management strategies formed through dynamic risk management system and risk assessment methods.
Framework for managing cyber risks in networks.
problem Managing systemic cyber risks in digital networks.
method Three components: acceptable configurations, risk mitigation interventions, and cost function.
result Effective decision-making for network resilience.
This paper explores portfolio management strategies to maximize alpha and minimize beta.
problem Maximizing returns while minimizing risk in investment portfolios.
method Examines asset allocation, diversification, active management, and risk management strategies.
result Combining these strategies optimizes portfolio performance.
Research identifies risks in selecting project managers for civil engineering projects.
problem Lack of awareness of project manager selection criteria and associated risks.
method Combined ANP-FMEA approach for risk analysis.
result ANP-FMEA model identifies more significant risks than traditional FMEA.
Paper proposes real-time risk metrics for stablecoin protocols.
problem Lack of risk management frameworks for stablecoins.
method Developed two risk metrics: capitalization and liquidity.
result Demonstrated practical benefits of real-time on-chain data.
Paper presents a risk management framework for blockchain protocols.
problem Blockchain protocol risks affecting DLT and digital assets.
method Developed a comprehensive risk management framework using traditional taxonomy.
result Structured approach to identify, measure, monitor and report blockchain protocol risks.
This review classifies electricity price models for risk management.
problem Choosing suitable models for risk management in electricity markets.
method Classification of models based on their ability to represent price behavior.
result Helps users select appropriate models for risk management.
The paper examines the feasibility of managing aggregate cyber-risk in IoT environments.
problem Determining sustainable conditions for providing aggregate cyber-risk coverage.
method Developed a rigorous general theory and validated it with real data.
result Conditions for sustainable aggregate cyber-risk management under heavy-tailed distributions.
Risk is part of the fabric of every business; surprisingly, there is little work on establishing best practices for systematic, repeatable risk identification, arguably the first step of any risk management process. In this paper, we present a proposal that constitutes a more holistic risk management approach, a method…
Paper discusses how financial institutions' model risk management can benefit academic research.
problem Improving academic research process and mitigating limitations.
method Adopting financial institutions' model risk management practices.
result Lessons from financial institutions can enhance academic research reliability.
Study finds risk management significantly improves pension scheme efficiency in Kenya.
problem Improving efficiency of pension schemes in Kenya.
method Panel data analysis of 128 pension schemes from 2015-2021.
result Risk management significantly mediates the relationship between corporate governance and pension scheme efficiency.
Third part of a study on liquidity risk in asset management, focusing on managing the asset-liability liquidity risk.
problem Managing the asset-liability liquidity risk in asset management.
method Develops a methodological and practical framework for liquidity stress testing programs.
result Proposes measurement, management, and monitoring tools for controlling the liquidity gap.
Adaptive Bernstein copulas improve risk management by preventing overfitting and reducing simulation effort.
problem Overfitting and high simulation effort in estimating dependence models.
method Constructive approach to Bernstein copulas with an admissible discrete skeleton.
result Comparison of different copula approaches in risk management shows improved accuracy and efficiency.
Paper tackles AI risks by customizing metrics and models.
problem AI risks are multidimensional and immaturely managed.
method Decomposes AI risks into data protection, fairness, etc., and develops metrics and models.
result Customized metrics and models reduce AI risk uncertainty.
Teaching tool simplifies Monte Carlo simulation for project risk analysis.
problem Difficulty in students performing Monte Carlo Simulation in risk analysis.
method Introducing MCSimulRisk as a teaching tool.
result Students can perform Monte Carlo simulation and apply it to projects of any complexity.
Risk, including economic risk, is increasingly a concern for public policy and management. The possibility of dealing effectively with risk is hampered, however, by lack of a sound empirical basis for risk assessment and management. The paper demonstrates the general point for cost and demand risks in urban rail projec…
Paper proposes a new approach to GDPR compliance using data protection analytics.
problem Lack of research on data protection risk management and difficulty in GDPR compliance.
method Quantitative approach to data protection risk-based compliance.
result Improves data protection impact assessments by integrating analytics and expert opinions.
This report reviews the Edinburgh tram project's risk management. Projects frequently overrun their cost and timelines and fall short on intended benefits. Cost, schedule, and benefit risk of projects need to be carefully considered to avoid this. The report describes and evaluates risk assessment and management for th…
AI enhances bank credit risk management through deep learning and data analysis.
problem Inaccurate credit decisions and potential risks in bank credit risk management.
method Innovative application of AI technology, including deep learning and big data analysis.
result AI provides more accurate and comprehensive credit decision support, reducing risks and losses.
Paper introduces RiskEmbed, a finetuned model for financial risk management.
problem Improving retrieval accuracy in financial question-answering systems.
method Curated dataset and finetuned BERT model for financial domain.
result RiskEmbed significantly outperforms general-purpose and financial embedding models.
Simplified approach to portfolio risk management and hedging in practice.
problem Challenges in applying academic portfolio risk management and hedging in real-world business settings.
method A straightforward approach using convex optimization and quadratic programming.
result Demonstrates how to solve portfolio risk management and hedging problems with CVXOPT.
Study improves risk management for volatile markets using expectiles.
problem Limitations of traditional risk measures during market stress.
method Develops expectile-based framework for FTSE 100 index.
result Expectile-based Value-at-Risk (EVaR) outperforms traditional VaR measures.
Approach for assessing supply chain cyber risks using expert judgment and forecasting.
problem Supply chain managers face challenges in assessing cyber risks affecting business factors.
method Structured expert judgment and forecasting models to assess various attack techniques and impacts.
result Facilitates implementation of risk management activities and decision-making processes.
A new method prioritizes project risks using Monte Carlo Simulation.
problem Determining the relative importance of project risks.
method Monte Carlo Simulation (MCS) for quantitative prioritization.
result Differentiates critical risks based on their impact on project duration and cost.
Ensemble method for fast portfolio valuation and risk management.
problem Dynamic portfolio valuation and risk management from cash flow data.
method Regression trees for dynamic value process learning.
result Fast and accurate estimator with closed-form solution.
Optimizes forecast distributions for financial risk management.
problem Improving risk management through better forecast distributions.
method Optimizes forecast distributions using scoring rules relevant to financial risk management.
result Tail-focused predictive distributions yield better outcomes in hedging strategies involving VIX futures.
Decision tool helps manage biofouling risks for ships in the Baltic Sea.
problem Biofouling of ships causes environmental and economic issues.
method Bayesian networks to identify biofouling management strategies.
result Optimal biofouling management includes biocidal-free coating and in-water cleaning.
GenAI offers financial benefits but requires risk management.
problem Managing risks in financial applications of AI.
method Balancing AI's potential with risk control strategies.
result Proper risk management is essential for AI growth in finance.
Paper tackles complex risk in deep neural networks.
problem Complex risk in deep neural networks.
method Developed new approach for complex risk statistics.
result Derived dual representation for complex risk.
The study analyzes ETFs' portfolio optimization and tail-risk management.
problem Analyzing the performance of actively managed ETFs in managing risk and diversification.
method Daily Bloomberg data for 30 funds, evaluating various strategies under long-only and long-short constraints.
result Tangency-type portfolios generally outperform buy-and-hold benchmarks, while minimum-variance and CVaR-minimizing portfolios sacrifice upside for downside control.
New risk measure improves creditor protection in financial regulation.
problem Current solvency requirements fail to control the size of recovery on creditors' claims.
method Developed Recovery Value at Risk (Recovery VaR) to control recovery on creditors' claims.
result Recovery VaR flexibly controls recovery on creditors' claims and integrates protection needs into management incentives.
Paper presents a neural network method for efficient xVA computation and risk management.
problem High-dimensional counterparty credit risk valuation and management.
method Neural network-based BSDE solver for coupled system of BSDEs for xVA.
result Efficient computation of xVA for high-dimensional portfolios.
PCL framework optimizes climate risk management across three clusters.
problem Comprehensive risk management in response to climate change impacts.
method Optimization of preemptive adaptation, contingent arrangements, and loss acceptance.
result Balanced portfolio of actions across three clusters optimized for long-term aggregate outlay.
A so called Zipf analysis portofolio management technique is introduced in order to comprehend the risk and returns. Two portofoios are built each from a well known financial index. The portofolio management is based on two approaches: one called the "equally weighted portofolio", the other the "confidence parametrized…
RegTech improves compliance and risk management through tech solutions.
problem Increasing regulatory costs and reliance on tech for crisis management.
method Examining RegTech solutions and their benefits.
result RegTech will be a promising market due to rising compliance costs and tech reliance.
Two new methods score stress test scenarios for risk managers.
problem Comparing and evaluating stress test scenarios for risk managers.
method Inspired by Archer-Mouy-Selmi, two methodologies for scoring stress test scenarios.
result New methods can compare and evaluate stress test scenarios.
The globalization feeded by the technology explosion that begans in the end of the last century, started the world to change faster every day. The only today's certain is the tomorrow's uncertain. Risk is defined as uncertain where one or many causes composed of ocurrence probality can generate an impact or consequence…
Study optimizes natural resource harvesting under model uncertainty using risk measures.
problem Optimal harvesting policy selection for natural resources under model uncertainty.
method Investigated using neoclassical growth model dynamics and convex risk measures, specifically Fréchet risk measures.
result Robust harvesting strategies quantifying operational and marginal risk under model uncertainty.