Combination Quote by Jawwad farid
“Risk models only have value if they are used effectively in combination with a limit management and control process.”
About This Quote
Source Conference: Risk Management Summit, 2019
Risk models are useful only when integrated with a robust limit management and control framework.
In simple terms: Risk models need strong control systems to be valuable.
Key Takeaway
Combine models with effective controls.
Themes
risk
management
control
decisionmaking
process
Mood
analytical
pragmatic
Type
strategic
instructional
When to use this quote
- financial services
- project management
- operational planning
- regulatory compliance
Key Concepts
risk assessment
limit management
control processes
Questions to Reflect On
- What controls are essential for your risk model?
- How do you ensure model outputs are acted upon?
A Different Perspective
Without proper controls, models can mislead decisions.
![“Geometry, which should only obey Physics, when united with it sometimes commands it. If it happens that the question which we wish to examine is too complicated for all the elements to be able to enter into the analytical comparison we wish to make, we separate the more inconvenient [elements], we…” quote by Jean le Rond d'Alembert](https://sms4smile.com/quotes/img-quotes/0d9/jean-le-rond-d-alembert-26487_able_geometry-which-should-only-obey-physics_6945.jpg)
