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Fintech

Financial centers are turning into tech clusters.

Host architectures will become increasingly open.

This makes data available in large ecosystems, regardless of where it is stored

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I hold a PhD in finance from the University of St. Gallen (HSG), Switzerland, where I undermined the citadel of risk assessment and management, arguing that classical probability theory is not an adequate foundation for modeling systemic and extreme risk in complex financial systems.

 

My doctoral work was supervised by the cyberneticist Prof. Dr. Markus Schwaninger (HSG), the mathematician Prof. Dr. Paul Embrechts (ETH Zurich), and the professor of finance Prof. Dr. Andrew Metrick (Yale University).

 

I proposed a new class of models which focus on the knowledge dimension by precisely describing market participants’ own positions and their propensity to react to outside changes. I closed my thesis by a synthetical reflection on methods and elaborated on the meaning of decision-making competency in a risk management context in banking.

 

If you wish to find out more on the shortcomings of risk management approaches in banks and how they might be overcome, then have a look at my book.

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To translate these theoretical results into practical impact, I co-founded two Fintech / software businesses, Syntherion in Zurich and LBRM in Mannheim.

Apart from that, I completed a postdoc at ETH Zurich, at the ETH Risk Center, and briefly worked as Assistant Professor of Finance as well as Deputy Director of the Swiss Fintech Innovation Lab at UZH before turning back to philosophy.

Publications

Risk management and AI

  • Hoffmann, C.H., & Djordjevic, C. 2020. Complexity, Power Laws and a Humean argument in Risk Management: The fundamental inadequacy of probability theory as a foundation for modeling complex risk in banking. Homo Oeconomicus, 37: 155–182. DOI 10.1007/s41412-020-00101-0.

  • Hoffmann, C.H. 2020. The digital era is the era of risk management for banks. Make risk management the profit driver of tomorrow and gain totally new insights. Geneva WealthTech Forum. June. Available at: http://genevawealthtech.com/knowledgecenter/.

  • Spindler, C., & Hoffmann, C.H. 2019. Data logistics and AI in insurance risk management. Swiss Alliance for Data Intensive Services. September 2019. Available at: https://dataaheadanalytics.ch/data-logistics-and-artificial-intelligence-in-insurance-and-risk-management/?lang=en.