What is RiskLab?
RiskLab is an international partnership of laboratories that undertake research in risk management in the financial markets. It is a partnership between university research divisions and private financial institutions and develops not only original academic research but also financial software and financial consulting projects across the globe.
Where have you heard about RiskLab?
As with RiskMetrics, another financial risk modelling system, you may not have heard of RiskLab as its research and products are aimed at large financial institutions. However, the Valuation at Risk (VaR) model that it uses is well-known for its sometimes alleged involvement in the 2008 financial crisis.
What you need to know about RiskLab.
The first RiskLab was founded in 1994 at the Swiss Federal Institute of Technology in Zurich. A second was created at the University of Toronto which now serves as the headquarters of the global alliance of RiskLabs. The German branch is incorporated into Allianz Global Investors as their risk advisory expert, while the Madrid laboratory jointly developed their offerings with both Santander Financial Solutions and BBVA. RiskLab Finland, based at Arcada University, concentrates on using and developing machine learning capabilities and statistical models with the aim of measuring systemic risks and vulnerabilities in the global financial markets.