Quantitative Risk Management

From Open Risk Manual

Definition

Quantitative Risk Management (QRM) is a set of conceptual frameworks, tools and practices that apply predominantly (but not exclusively) quantitative (numerical / data driven) techniques to the discipline of Risk Management.

Context

Quantitative Risk Management is particularly prevalent in the management of Insurance Risk, Credit Risk and Market Risk, especially in the financial services industry but there are also significant examples in other domains. The tools used in QRM are denoted Quantitative Risk Models


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