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Tony Hughes

London

Columnist at Risk Intelligence

Tony Hughes. Columnist for the Global Association of Risk Professionals (GARP) and Managing Director at Moody's Analytics.

Articles

  • 3 weeks ago | garp.org | Tony Hughes

    Whenever a bank considers the construction or purchase of a new model, the first decision they must take is always, “should we or shouldn’t we?” This decision, which is not well covered by existing model risk management practices, actually carries quite a bit of risk for a bank. Tony HughesTo illustrate, consider two hypothetical banks with the same target market, business model and broad attitude to risk.

  • 2 months ago | garp.org | Tony Hughes

    The use of generative AI in banking is now pretty well established. It’s currently used for a variety of tasks, and its strengths and weaknesses are becoming more obvious. If the technology was an employee, given its highly unusual set of skills, its probationary period would have ended and its future would be considered bright by most senior managers. Tony HughesBut the new employee has not yet shown that it is completely trustworthy.

  • Jan 31, 2025 | garp.org | Tony Hughes

    The Federal Reserve is now being sued, by the American Banking Association and other lobby groups, about the opaqueness and fairness of its stress testing framework. Though the central bank has heard complaints about CCAR, its annual capital adequacy stress test, in the past, it’s possible the lawsuit could yield significant stress testing changes. This is obviously important news for credit risk practitioners.

  • Nov 22, 2024 | garp.org | Tony Hughes

    The recent election of scandal-scarred Donald Trump to a second term as U.S. president may appear to be an anomaly – but it is consistent with a well-established global trend. Since the pandemic, incumbents in western democracies have lost 40 of 54 elections. These losses have occurred irrespective of tenure or whether the incumbent was on the left or right on the political spectrum. Tony HughesHow might all this political upheaval impact central banks?

  • Oct 11, 2024 | garp.org | Tony Hughes

    Gathering data and modeling is – by a considerable margin – the best way to optimize portfolio construction and management. But because modeling talent is spread thin and wide, it would be impractical for even a large bank to have every modeler it needs or wants on its payroll. This is one reason why large and small analytics companies have a chance to provide their services to major financial corporations – and to earn tidy profits as a result.

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11 Mar 19

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Worthwhile Risk @WorthwhileRisk
2 Jan 19

Do Unregulated Banks Need Stress Tests? https://t.co/QNnvji1ieX via @GARP_Risk