Bank risk manager of the year: Goldman Sachs

craig-broderick
Craig Broderick

By recent standards, market risk was in remission for most of 2012 – the Vix index of implied volatility on S&P 500 options had its most subdued year since the start of the crisis, and bank value-at-risk levels were also down dramatically. For risk managers at Goldman Sachs, this lull presented a danger all of its own.

“It’s a fairly simple observation that because volatility is so low, VAR models are going to show relatively low risk,” says Craig Broderick, the bank’s New York-based chief risk

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