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Practice paper

What can risk managers at financial institutions learn from the systems employed by traders?

Chabi Deochand
Journal of Risk Management in Financial Institutions, 8 (3), 289-296 (2015)
https://doi.org/10.69554/UWFN8358

Abstract

Risk managers place a great deal of trust and reliance in systems employed by traders. In fact, given the complexity of trading systems it is hard not to do so. But reliance on information coming from these systems should not be the sole basis for risk management decisions. Instead, risk managers should understand the processes surrounding these systems and recognise where risk in data quality and accuracy exists. By doing so, their risk assessment and actions will be driven by better informed decisions and less dependency only on trust and reliance. This paper highlights common technology processes and practices that create risk in the systems employed by traders, and provides valuable information that risk managers can utilise to develop a higher level of risk awareness and, in some cases, even prevent some risks from materialising.

Keywords: technology risk; change management; risk management; trading systems

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Author's Biography

Chabi Deochand has more than 20 years of software development experience across multiple industries, and has been leveraging that expertise in technology risk managemen t over the last five years on Wall Street. Chabi holds a Masters of Science degree in computer science and an MBA from NYU, and is a certified public accountant (CPA) and a certified information systems auditor (CISA).

Citation

Deochand, Chabi (2015, July 1). What can risk managers at financial institutions learn from the systems employed by traders?. In the Journal of Risk Management in Financial Institutions, Volume 8, Issue 3. https://doi.org/10.69554/UWFN8358.

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cover image, Journal of Risk Management in Financial Institutions
Journal of Risk Management in Financial Institutions
Volume 8 / Issue 3
© Henry Stewart
Publications LLP

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