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Volatility and Risk Institute

An interdisciplinary center for research on financial, geopolitical, cyber, and climate risks by scholars, practitioners, and policymakers


OUR MISSION

The Volatility and Risk Institute is an interdisciplinary center for research and analysis of financial and nonfinancial risks. It serves as a designated hub to support risk-related research and collaboration among scholars, practitioners, and policymakers. It supports, promotes, and facilitates risk analysis, assessment, and measurement, and creates a bridge between faculty research and a specialized group of practitioners and market participants on the cutting-edge of real-world risk issues. To assess and analyze these risks, we are employing new data and analytical tools including those from data science and a wide range of machine learning technologies. Our Faculty Board is composed of members from the Tandon School of Engineering, the Courant Institute of Mathematical Sciences, the Wilf Family Department of Politics in the Faculty of Arts & Science, the Wagner Graduate School of Public Service, the School of Global Public Health, the Law School, and the Stern School of Business. Our focus is on newly emerging forms of risk including climate risk, geopolitical risk, cyber risk, more recently pandemic risk, as well as new topics in financial risk.


VOLATILITY AND RISK INSTITUTE UPDATES

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Richard Berner presents at the AALS 2024 Annual Meeting in Washington, DC

Richard Berner discussed Liquidity Stress at the Association of American Law Schools 2024 Annual Meeting on January 5th, 2024 in Washington, DC

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VRI co-hosts "Catastrophic Cyber Risk and a Potential Federal Insurance Response Conference" with US Treasury Office of Insurance

The Volatility and Risk Institute and U.S. Department of the Treasury’s Federal Insurance Office's held a conference on "Catastrophic Cyber Risk and a Potential Federal Insurance Response" on on Friday, November 17th, 2023 from 8:30am to 12:30pm. 

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Virtual Talk And Q&A With Maya MacGuineas - Wednesday, 11/15

THE VRI and Center for Global Economy and Business held a talk and Q&A with Maya MacGuineas (President, Committee for a Responsible Federal Budget) on Wednesday, November 15, 4:45pm - 5:45pm. 

Watch Here
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Richard Berner at Financial Services Forum Summit 2023

Richard Berner discussed Migration of Risk within the Financial Sector on a panel at the 2023 Financial Services Forum Summit Conference on September 26th in Washington, DC. The full panel video is now available.

Watch Here
SVB and Beyond: The Banking Stress of 2023

VRI publishes SVB and Beyond: The Banking Stress of 2023

In SVB and Beyond: The Banking Stress of 2023, NYU Stern Faculty and their collaborators provide a diagnosis and organizing framework to understand the banking stress of 2023, as well as a collection of policy proposals to ensure financial resilience in its wake. The full book is now available!

ACCESS THE BOOK
Women Leaders in Cybersecurity

Judith Germano's panel on "AI Trust & Security What Executives, Boards and Their Advisors Should Know" for the Women Leaders in Cybersecurity event series

Judith Germano (VRI Faculty Board) will moderate a panel on "AI Trust & Security What Executives, Boards and Their Advisors Should Know" for the Women Leaders in Cybersecurity event series on Tuesday, 7/18 from 11am - 1pm. Registration is free and open to all.

Register Here
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Watch now: Fourth Annual VRI Conference on "Managing Compound Risks in a Polycrisis World"

The Volatility and Risk Institute held our annual conference on Friday, April 28, 2023. The topic was"Managing Compound Risks in a Polycrisis World."  Conference videos and slides are available on our conference site. 

Watch our conference videos
Climate Stress Testing

VRI Authors Report with NYFed: Climate Stress Testing

Our latest research with Hyeyoon Jung of the Federal Reserve Bank of New York on "Climate Stress Testing" is now available as NYFed Staff Report.

Read the full report
Economic Report of the President

VRI Faculty Cited in the 2023 Economic Report of the President

The 2023 Economic Report of the President from the Council of Economic Advisers cited research from VRI Professors Viral Acharya, Richard Berner, Thomas Philippon, and Kim Schoenholtz.

READ THE REPORT
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Johannes Stroebel Selected as 2023 Fischer Black Prize Winner

Johannes Stroebel has been awarded the 2023 Fischer Black Prize. The prize is awarded for a body of work that best exemplifies the Fischer Black hallmark of developing original research that is relevant to finance practice.

Read the announcement
Governance, Regulation and Accounting for Digital Assets conference. Friday, January 27, 2023

Governance, Regulation and Accounting for Digital Assets Conference (1/27)

The Vincent C. Ross Institute of Accounting Research and the Volatility and Risk Institute co-hosted a conference focusing on the many pending issues regarding digital assets on January 27th. The conference explored how frameworks for governance, pending regulation, legal and accounting intersect for digital assets.

Watch the Conference Videos
Robert Engle portrait

Robert Engle

Co-Director
Robert Engle is Professor Emeritus of Finance at NYU Stern and was awarded the 2003 Nobel Prize in Economics for his research on the concept of autoregressive conditional heteroskedasticity (ARCH).
Richard Berner portrait 2019

Richard Berner

Co-Director
Professor Berner is a Clinical Professor of Management Practice in Finance at NYU Stern and served as the first director of the Office of Financial Research (OFR) from 2013 until 2017.

OUR RESEARCH AND PROGRAMS

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Initiatives

Our research focuses on emerging forms of risk including climate risk, geopolitical risk, cyber risk as well as new topics in financial risk.

Research

Our research focuses on emerging forms of risk including climate risk, geopolitical risk, cyber risk as well as new topics in financial risk.
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V-Lab

The Volatility Laboratory (V-Lab) provides real time measurement, modeling and forecasting of financial volatility and correlations for a wide spectrum of assets. 

 
Bryan Kelly at VI Conference (Crop)

Events

The Volatility and Risk Institute hosts Quantitative Finance and Econometrics seminars (QFE) and conferences

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