SOURCE: AlexanderChurch.com

http://www.alexanderchurch.com

November 05, 2015 12:21 ET

Alexander Church's Walker Challenges Latest Thinking on Risk

WESTPORT, CT--(Marketwired - November 05, 2015) - Russell Walker has been an influential force in the world of Risk Management and ways to monetize Big Data. He recently made news by joining forces with Alexander Church Global Consulting, a regulatory consulting firm with offices in Connecticut, London and San Francisco. In a recent interview, Professor Walker of the Kellogg School at Northwestern made news again, challenging the orthodox view that risk can be easily classified neatly into categories, and questioning whether the current paradigm will have validity throughout the new century.

"Risks are now being classified neatly into categories by financial firms, regulators and others. However, risk poses contagion. The Great Recession taught us that risks are intertwined," Russell Walker explains in a recent interview. "An operational risk that might exist in the loan approval process may actually look like a credit loss, and its impact could be a reputation risk or regulatory risk. It's not so clear-cut."

Regulatory requirements for banks to institute enterprise Risk Management Programs have become major obstacles for banks of all sizes. "Small banks are beginning to understand that they will be required to follow similar, if not identical Risk Management and Compliance procedures of Large Banks. Critical evaluation such as stress testing and scenario analyses will be necessary to ensure the viability of the organization, large or small."

In the midst of all this, the ground continues to shift regarding what risk really is. "The new paradigm is already being transformed," says Walker. "The new customers want more choices and more control. The millennial generation doesn't want to walk into a bank. They see it as a waste of time. The future will be about efficiency and competing for technology-driven solutions." Don Andrews, the president of Alexander Church Global Consulting agrees: "What a risk is in 2015 may not be on anyone's radar in 2020 or 2025. What a bank is in 2025 for the millennial generation may be very different."

Institutions are put in a difficult position as they are working to get a handle on the current risks while the nature of the world, and therefore the nature of risk itself, is being transformed. "It's a tough position to be in," says Andrews. "We identify with these institutions because we have been on the inside working with regulators to create workable solutions." Walker and Andrews have worked very closely and effectively with regulators throughout their careers addressing risk management issues. In addition, Professor Walker is the author of two recent books, "Winning with Risk Management" and "From Big Data to Big Profits", which have further established him as one of the leading global experts on Risk Management.

Walker believes that the years and type of experience of the team at Alexander Church Global Consulting brings something more to Risk Management consulting that other firms offer. "Working through a project requires knowing the path," says Walker. "My colleagues at Alexander Church have walked the path and know it very well. I am pleased to be part of such a talented team."

Professor Walker is the Practice Leader for Risk Management Services at Alexander Church Global Consulting. He is also the Clinical Associate Professor of Managerial Economics and Decision Sciences at the Kellogg School of Management of Northwestern University. Professor Walker can be reached at info@alexanderchurch.com or 1-888-780-8810.

To learn more about Alexander Church Global Consulting, visit: http://www.alexanderchurch.com/

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