7 Things Risk Managers Should Be Thankful for in 2013

Risk management. Over the years regulatory and business requirements have driven financial institutions to take leading positions in technology, implementing new sophisticated features and automated analytics solutions that are widely accessible. To master the complexity of massive portfolio-across-scenario analysis, technology gets the role of an enabler.


Risk managers will have a number of things from a technology standpoint to be thankful about - especially enabling the improvement of risk management processes and boost efficiency:

1. new computing muscles - heterogenous CPU/GPU architectures with large memories for in-memory computing
2. inherently parallel pricing and calibration engines realized in OpenCL for platform-agnostic solutions driven over computer grids
3. virtualization and personal cloud computing to increase utilization and flexibility of the IT infrastructure
4. advanced web services and web enabling application development environments for wide and on-demand access
5. advances in domain specific programming (in multi-language settings based on builder patterns and other design patterns) for the swift development  of new requirements
6. non-traditional data types and machine learning methodologies will support decision making
7. smart mobile devices will be capable of running quite complex mathematical finance algorithms and smart apps locally 

Are all of these gains with no downside? Probably not, but we have made our decisions based on experiences - and it is true: technology becomes an enabler.