Financial Risk Management
The Professional Risk Managers' International Association (PRMIA) is a professional organisation focused on bringing together representatives of the risk management profession, conveying internationally accepted standards, as well as offering an opportunity to discuss the current issues and development of risk management. In addition to connecting theoretical and practical professionals with each other, the PRMIA places strong emphasis on the organised and informal training of professionals in the field of risk management. One form of this is an examination system requiring different levels of competence complying with an internationally accepted and expected standard of the risk management profession. Further means of training and knowledge transfer are the events (workshops, conferences, and meetings) held by local organisations.
Continuing the tradition started in 2016, the Hungarian member organisation of PRMIA held its third annual conference providing insights into academic research on 17 October 2018. The two co-organisers of the conference (the ELTE Institute of Business Economics and the Department of Investments and Corporate Finance at the Corvinus University of Budapest) are Hungary’s highest-ranking academic working groups in the field of finance.
The conference was opened by Lénárd Darázs, Vice-Rector for General Affairs, ELTE. In his speech, he welcomed and commended that the ELTE Institute of Business Economics has so fast worked its way up among Hungary’s top academic working groups in the field of finance. Subsequently, work was started in four sessions. The papers delivered in English and Hungarian covered a wide spectrum of corporate and banking risk management, from project financing risks to the network analysis of the entire banking system. Two lecturers of the Institute (Tamás Jónás and Gabriella Lamanda) were speakers at the conference. Mihály Ormos, Head of Institute, was present as the chairperson of a session.
In his paper, Tamás Jónás summarised the findings of his research conducted together with József Dombi (University of Szeged): they developed a parametric, monotone set function, which – depending on its parameter values – can equally serve as plausibility and belief measures, making thus possible a general approach to modelling uncertainty. With her paper, Gabriella Lamanda provided insights into the secrets and challenges of banking risk management.
The studies accepted by the scientific programme committee on the basis of the presentations will be published in the social science journal titled Economics and Finance.