ALRiM: Luxembourg Association
of Risk Management

The global Risk Management community - and especially Luxembourg - mourns the loss of 𝑷𝒉𝒊𝒍𝒊𝒑𝒑𝒆 𝑱𝒐𝒓𝒊𝒐𝒏, a pioneer whose impact transcended borders and generations of risk managers. Professor of finance at the University of California, Irvine - The Paul Merage School of Business, his name will forever be associated with Value-at-Risk (‘VaR’), an essential tool in financial risk management and which structured modern thinking on risk management. One of his books “𝑉𝑎𝑙𝑢𝑒 𝑎𝑡 𝑅𝑖𝑠𝑘: 𝑇ℎ𝑒 𝑁𝑒𝑤 𝐵𝑒𝑛𝑐ℎ𝑚𝑎𝑟𝑘 𝑓𝑜𝑟 𝑀𝑎𝑛𝑎𝑔𝑖𝑛𝑔 𝐹𝑖𝑛𝑎𝑛𝑐𝑖𝑎𝑙 𝑅𝑖𝑠𝑘”, is the recognized global reference in the industry for VaR. Philippe’s role was not limited to ideas. He directly trained generations of risk managers. In that capacity, and also thanks to his Belgian roots, he was present from the founding of ALRiM. From the early 2000s he collaborated with ALRiM in delivering preparatory courses for the Global Association of Risk Professionals (GARP) certification (he was the author of the reference book for the FRM). Those who attended those courses remember his rigour, his clarity, and his immense pedagogical talent. Philippe’s attachment to our community continued over many years. He was also a loyal and unwavering supporter of GFR (Global Fund Risk) in which he was an honorary member. From the inception of the project, he encouraged the writing of the reference book ‘𝑅𝑖𝑠𝑘 𝑀𝑎𝑛𝑎𝑔𝑒𝑚𝑒𝑛𝑡 𝑓𝑜𝑟 𝐼𝑛𝑣𝑒𝑠𝑡𝑚𝑒𝑛𝑡 𝐹𝑢𝑛𝑑𝑠’, giving it his academic and professional endorsement. Thanks to Philippe, GFR has benefited from international credibility that endures to this day. Through University of California, GARP, GFR, and ALRiM, Philippe Jorion has left a lasting mark on the Luxembourg’s financial center in particular and the financial industry worldwide more broadly. He helped shape its thinking, train its professionals, strengthen its institutions and inspire an entire generation of risk managers. Our thoughts go to his beloved wife Dominique, who often accompanied him on trips to Luxembourg and with whom many of us built a warm friendship, as well as to his children, to whom we extend our deepest sympathy. Farewell Philippe, we mourn you deeply and sincerely.

AML/CFT is not just a trend, it’s a pressing priority that continues to shape our industry.   Sylvain Aubry, board member and conducting officer of The Carlyle Group Investment Management Europe, and board member of ALCO - Association Luxembourgeoise des Compliance Officers is the Chairman of the ALRiM AML/CFT Working Group.   In this video, Sylvain has outlined: - 𝑡ℎ𝑒 𝑟𝑒𝑙𝑎𝑡𝑖𝑜𝑛𝑠ℎ𝑖𝑝 𝑏𝑒𝑡𝑤𝑒𝑒𝑛 𝑎𝑛𝑡𝑖-𝑚𝑜𝑛𝑒𝑦 𝑙𝑎𝑢𝑛𝑑𝑒𝑟𝑖𝑛𝑔 𝑎𝑛𝑑 𝑟𝑖𝑠𝑘 𝑚𝑎𝑛𝑎𝑔𝑒𝑚𝑒𝑛𝑡   - 𝑡ℎ𝑒 𝑝𝑜𝑠𝑖𝑡𝑖𝑜𝑛 𝑜𝑓 𝐴𝐿𝑅𝑖𝑀'𝑠 𝐴𝑀𝐿 𝑤𝑜𝑟𝑘𝑖𝑛𝑔 𝑔𝑟𝑜𝑢𝑝   - 𝑡ℎ𝑒 𝑛𝑒𝑤 𝑝𝑜𝑡𝑒𝑛𝑡𝑖𝑎𝑙 𝑟𝑖𝑠𝑘 𝑓𝑎𝑐𝑡𝑜𝑟𝑠 𝑖𝑛 𝐴𝑀𝐿 💡Any interest in this working group? Contact us via email: info@alrim.lu 🌐 www.alrim.lu www.riskacademy.lu 📩 React, share, and reach out to us.   #RiskManagement #ALRiM #Training #RiskAcademy #AML/CFT

The global Risk Management community - and especially Luxembourg - mourns the loss of 𝑷𝒉𝒊𝒍𝒊𝒑𝒑𝒆 𝑱𝒐𝒓𝒊𝒐𝒏, a pioneer whose impact transcended borders and generations of risk managers. Professor of finance at the University of California, Irvine - The Paul Merage School of Business, his name will forever be associated with Value-at-Risk (‘VaR’), an essential tool in financial risk management and which structured modern thinking on risk management. One of his books “𝑉𝑎𝑙𝑢𝑒 𝑎𝑡 𝑅𝑖𝑠𝑘: 𝑇ℎ𝑒 𝑁𝑒𝑤 𝐵𝑒𝑛𝑐ℎ𝑚𝑎𝑟𝑘 𝑓𝑜𝑟 𝑀𝑎𝑛𝑎𝑔𝑖𝑛𝑔 𝐹𝑖𝑛𝑎𝑛𝑐𝑖𝑎𝑙 𝑅𝑖𝑠𝑘”, is the recognized global reference in the industry for VaR. Philippe’s role was not limited to ideas. He directly trained generations of risk managers. In that capacity, and also thanks to his Belgian roots, he was present from the founding of ALRiM. From the early 2000s he collaborated with ALRiM in delivering preparatory courses for the Global Association of Risk Professionals (GARP) certification (he was the author of the reference book for the FRM). Those who attended those courses remember his rigour, his clarity, and his immense pedagogical talent. Philippe’s attachment to our community continued over many years. He was also a loyal and unwavering supporter of GFR (Global Fund Risk) in which he was an honorary member. From the inception of the project, he encouraged the writing of the reference book ‘𝑅𝑖𝑠𝑘 𝑀𝑎𝑛𝑎𝑔𝑒𝑚𝑒𝑛𝑡 𝑓𝑜𝑟 𝐼𝑛𝑣𝑒𝑠𝑡𝑚𝑒𝑛𝑡 𝐹𝑢𝑛𝑑𝑠’, giving it his academic and professional endorsement. Thanks to Philippe, GFR has benefited from international credibility that endures to this day. Through University of California, GARP, GFR, and ALRiM, Philippe Jorion has left a lasting mark on the Luxembourg’s financial center in particular and the financial industry worldwide more broadly. He helped shape its thinking, train its professionals, strengthen its institutions and inspire an entire generation of risk managers. Our thoughts go to his beloved wife Dominique, who often accompanied him on trips to Luxembourg and with whom many of us built a warm friendship, as well as to his children, to whom we extend our deepest sympathy. Farewell Philippe, we mourn you deeply and sincerely.

"We need to come back to the essence of the business." Luc Neuberg, PhD perfectly reminded the main risk raised by an hyper-connected world: loosing expertise and, therefore, the control. Luxembourg has given us, and continues to give us, great tools. Let's use them properly to ensure that it remains the place to be for experts in the years to come. 🇱🇺 Thank you Luxembourg for Finance and all the panelists for this very insightful conference. Looking forward to the next one! #RiskManagement #Delegation #ArtificialIntelligence #Luxembourg

At our recent Focus on Compliance & Risk Management livestream we explored the complexity of evolving regulations, while navigating rising geopolitical and operational risks. In our fireside chat with Andrew McDougall, he noted that while there are parallels with the Cold War, today’s far more complex geopolitical landscape requires financial institutions to adapt across sanctions, currencies, jurisdictions, and regulation. He stressed that cutting through the constant noise of the 24-hour news cycle demands deeper knowledge of regions and risks, coupled with rigorous risk management processes to anticipate and respond effectively to global events. Our first panel focused on the evolving role of compliance in European finance, highlighting priorities such as sustainable finance, AI governance, operational resilience under DORA, and the upcoming EU AML Authority. During the second panel, our speakers explored how a hyperconnected financial system amplifies operational risks, from reliance on global tech providers to complex delegation chains, requiring proactive risk management, and alignment with frameworks like DORA. Thank you to our speakers: Andrew McDougall, Barclays | Michael Horvath, PwC | Sandrine Labro, Brown Brothers Harriman | Karine Laurencin Mussy, Amundi | Alexandra Merlino, Pictet Group | Antoine Meyers, BGL BNP Paribas | Luc Neuberg, PhD, GFR (Global Fund Risk)| Tilo Reichert, CAIA, CFA, FRM, Swiss Life Asset Managers | Lynn Robbroeckx, Luxembourg for Finance | Anne-Lise Vandevoir, Clifford Chance | Murielle YIMGANG, Generali Luxembourg Many thanks to our sponsor Aptus.AI Click here to watch the full replay: http://bit.ly/4g2DYrW #RiskManagement #Compliance #FinancialServices #Regulation #OperationalResilience #LFFEvent