16 May 2012PRESS RELEASE:
CheckRisk LLP, a leading provider of risk consulting services, announced today the commencement of a four year program to further develop financial risk systems with the University of Bath and the University of Bristol under the EngD in Systems program. The program will enhance and develop CheckRisk’s existing financial risk model.
Nick Bullman, founder and managing partner of CheckRisk LLP said, “We are delighted to be entering a new phase in our relationship with the University of Bath, School of Management, and commencing a long term relationship with the University of Bristol via the EngD program. Recent global events have highlighted why the understanding of risk is so important in finance and exposed huge gaps in our knowledge. CheckRisk LLP with the University of Bath, School of Management and the University of Bristol, Systems Centre will take CheckRisk’s existing risk model to the next level and beyond and provide a depth of academic rigour and knowledge which will benefit our clients and the risk industry in general.”
Dr Andreas Kraus, Lecturer Finance at the University of Bath, School of Management said, “I am looking forward to working with CheckRisk on this innovative project. Risk has long played a minor role amongst practitioners and academics have mostly been concerned with (retrospective) risk measurement, but this project promises to push the boundary firmly forward in understanding what drives risks in financial markets.”
Dr.Richard John Fairchild, Lecturer Corporate Finance at the School of Management, University of Bath said, “I am very excited to be working with CheckRisk on this fascinating project. This program will challenge the traditional approach to modelling risk, which is based on the assumption that investors are fully-rational and emotionless. Existing risk models do not consider the interplay between economic, behavioural and emotional factors. Our objective is to address these issues by developing a risk system, based on a combination of economic, behavioural, and emotional indicators, which will provide a ‘heat-map’ in order to alert market participants to the emerging risk landscape.”
The Engineering doctorate (EngD) programme, delivered by the Industrial Doctorate Centre in Systems, is a collaboration between the University of Bristol and the University of Bath, funded by EPSRC & sponsored by circa 40 companies in the UK, including CheckRisk LLP which is a sponsor of this project. Details of the EngDoc program may be found on the University of Bristol Systems Centre Website at the following link http://www.bristol.ac.uk/eng-systems-centre/idc/engprogramme/