CREAR (Center of Research in Econo-finance and Actuarial sciences on Risk / Centre de Recherche Econo-financière et Actuarielle sur le Risque) aims at strengthening the exchange between academics and professionals who also strike for excellence in their modeling of risks, and fostering research on this topic.
Research in risk management needs to develop toolkits based on fundamental research and various fields of expertise. ESSEC combines many of those, which is a big strength for CREAR. These main research fields are :
Data Analytics
Econometrics
Extremes
Forecasting
Probability
Quantitative Finance
Real Estate investments
Regulation: IFRS
(High dimensional) Statistics
Those fields overlap different departments at ESSEC (Paris & Singapore), namely: Accounting and Management Control, Economics, Finance, IDS. They involve various members of these departments in a transversal way.
Besides participation of ESSEC researchers, CREAR establishes productive links with similar international research laboratories and companies.
It is also a support for the actuarial track and the Quantitative Risk Management track within the PhD in Finance.
The main focus of CREAR towards professionals and financial institutions is to create an efficient organization dealing with
1. quantitative research on financial and insurance risks
2. focused on (re)insurances and bank-insurances
3. in the background of the new risk based regulation (Solvency 2 Pillar 1 and ORSA , Swiss Solvency Test, Risk Based Capital from NAIC)