RiskLab

RiskLab is a laboratory that conducts research in financial risk management.

RiskLab
Founded1994
TypeResearch Laboratory
FocusFinancial risk management
Location
  • Toronto, Canada
OriginsEidgenössische Technische Hochschule Zürich, Zurich, Switzerland
Area served
Worldwide
Key people
Luis A. Seco, Director

The first RiskLab was created in 1994 at Eidgenössische Technische Hochschule Zürich in Zurich, Switzerland. The ethos of all existing RiskLabs is a fusion of academic research, industrial innovation and governmental oversight in financial risk management.

In 1996, another RiskLab was created independently at the University of Toronto, this time sponsored by the private company Algorithmics Incorporated.[1]

Shortly afterwards, and also in partnership with Algorithmics Inc, other RiskLabs were created in Munich (1997), at Cornell University (1998), at University of Cambridge (1998), at the Universidad Autonoma de Madrid (2000), and at the Cyprus International Institute of Management in Nicosia (2001).

In 2005, RiskLab Toronto,[2] a divisional center at the University of Toronto, was featured in Research Means Business,[3] a directory of "cutting-edge research leading to industrial innovation and the creation of new business enterprises" published by the Natural Sciences and Engineering Research Council of Canada (NSERC).

Risklab China Research Center was also created in 2006.

In October 2007, RiskLab was the NSERC Synergy Award for Innovation. The award was delivered by Dr. Colin Carrie, Parliamentary Secretary to the Minister of Industry, on behalf of the Honourable Jim Prentice, Minister of Industry and Minister responsible for the Natural Sciences and Engineering Research Council of Canada (NSERC), and by Dr. Suzanne Fortier, President of NSERC.

In 2010, growing out of the RiskLab international network, RiskLabs built the strategic alliance named RiskLab Global.

In 2013, a Finnish section of Risklab was independently created at Åbo Akademi University in Turku and Arcada University of Applied Sciences in Helsinki.

RiskLab Australia at CSIRO's Data61 was launched in 2015, based in Melbourne. RiskLab Australia at CSIRO's Data61 is a multi-disciplinary R&D centre for developing the latest methodologies and technologies in actuarial sciences, econometrics, applied math and statistics as well as financial mathematics.

Global Organization Structure

RiskLab Toronto, Canada Chapter, Headquarter Institution: University of Toronto, Ryerson University

Members:

References
  1. Press Announcement by Algorithmics Inc Link
  2. List of Centres, Institutes & Labs at the University of Toronto
  3. NSERC Research Means Business, Natural Sciences and Engineering Research Council of Canada (2005).
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