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Big Data and the CRO of the Future

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The Impact of Digital Transformation and FinTech on the Finance Professional

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Abstract

This article section deals with the challenges of a Chief Risk Officer and how to go about solving them. It investigates the potential of big data and an analytics platform including aspects of open source software and the cloud. Challenges are then dealt with in further detail, spanning from financial risk and nonfinancial risk to regulatory aspects and the impact of machine learning, AI and ABM. The section summarizes how the next generation of risk management should look.

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Notes

  1. 1.

    Harmon (2018).

  2. 2.

    Härle, Havas, Samandari, Kremer, and Rona (2016).

  3. 3.

    Härle et al. (2016).

  4. 4.

    Portilla et al. (2017).

  5. 5.

    Grasshoff et al. (2018).

  6. 6.

    Supervision (2015).

  7. 7.

    Constâncio (2017).

  8. 8.

    Bookstaber, The end of theory—Financial crises, the failure of economics, and the sweep of human interaction (2017).

  9. 9.

    Cont and Gordy (2017).

  10. 10.

    Cont and Gordy (2017)

  11. 11.

    Anderson et al. (2015).

  12. 12.

    Bookstaber, Foley, and Tivnan, Toward an understanding of market resilience: Market liquidity and heterogeneity in the investor decision cycle (2015).

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Author information

Authors and Affiliations

  1. Cloudera, London, UK

    Richard L. Harmon

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  1. Richard L. Harmon
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Correspondence to Richard L. Harmon .

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Editors and Affiliations

  1. ifb AG, Grünwald, Germany

    Volker Liermann

  2. ifb Americas, Inc., Charlotte, NC, USA

    Claus Stegmann

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Harmon, R.L. (2019). Big Data and the CRO of the Future. In: Liermann, V., Stegmann, C. (eds) The Impact of Digital Transformation and FinTech on the Finance Professional. Palgrave Macmillan, Cham. https://doi.org/10.1007/978-3-030-23719-6_13

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  • DOI: https://doi.org/10.1007/978-3-030-23719-6_13

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  • Publisher Name: Palgrave Macmillan, Cham

  • Print ISBN: 978-3-030-23718-9

  • Online ISBN: 978-3-030-23719-6

  • eBook Packages: Economics and FinanceEconomics and Finance (R0)

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