Missions and History
The objective of the CRML is to provide research and advice on risk management issues in the fields of Finance, Actuarial Sciences, and Operations Management. As such we view our mission as the construction and diffusion of independent and transparent decision making tools that should help to better gauge the risk of various economic stakeholders. Those stakeholders can be banks, insurance companies, or industrial firms.
The CRML is a group of motivated professors who seek to improve the teaching and quality of research in risk management. In what we call the Lausanne Initiative, we focus our research on models that work in practice and that are compatible with Responsible Management.
The Center focuses on risk management and the associated quantitative methods. The main objective of the Center is to perform internationally competitive research and to translate breakthroughs into ideas that are implemented in the local and global industry. The Center also provides training and consulting services in risk management to corporations and financial institutions worldwide. We combine in-depth quantitative knowledge and extensive practical experience.
In 2011, HEC-Lausanne celebrated its 100th anniversary. To celebrate this event, three departments of the School decided to create the Center for Risk Management at Lausanne (CRML).
By 2012, a first website was running where we distributed data on Systemic Risk produced in collaboration with the Volatility Institute of the Stern School of Management at New York University.
By end of April 2013, we developed a Europe specific model and the intelligence to compute on a weekly basis systemic risk measures for European banks. That data gets automatically displayed on this website.
At the beginning of 2018, the Center starts to carry out research in the field of sustainability. We develop this research in several directions, including ESG investing, responsable corporate governance, and sustainable real estate.