BlackRock overhauls scenario analysis approach
The world’s largest asset manager has added forward-looking scenario analysis to its risk management toolkit – a response to the increasing importance of event risk
BlackRock has revamped its approach to scenario analysis this year in response to the increasing importance of event risk, according to the firm's chief risk officer, Ben Golub.
The move has seen historical stress tests supplemented with new, "market-driven" scenarios, which have now been in use for about six months, Golub said in his keynote address at the Risk USA conference in New York today. Their introduction "is about going beyond just a statistical model and dealing with the fact we have
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