Once the bubble burst, we thought risk systems would need to be reviewed. We started looking at that and it appeared the problem was upstream, at modeling level. We started working on it and it turned out data management should be reviewed in the first place. We started addressing it and it now appears the real problem is even higher upstream. What data ? For who to do what? It is a risk policy implementation issue, a true operational and managerial overhaul. It is the human factor that should actually come first.

Attached you will find a transcription from the Valuation Risk Forum that Thomson Reuters hosted in New York on May 7th, 2008.   Hosted by Jon Robson, President, Enterprise, Thomson Reuters, the forum consisted of a key note speech from Philippe Carrel followed by two panel discussions.