Philippe Jorion Ph.D

Philippe Jorion Ph.D General Information

Biography

Dr. Philippe Jorion served as a Managing Director and Head of Risk Management at Pacific Alternative Asset Management Company. He oversees the development and implementation of risk measures for PAAMCO hedge funds, sectors, and client portfolios, all of which are based on full position-level transparency. In addition, he is responsible for the active management of risk, which involves building tools for manager monitoring and helping to manage the overall portfolios. As chair of PAAMCO's Investment Oversight Committee, he is involved in all stages of the investment process. Philippe is also a member of the Risk Management Committee. He serves as the Chancellor's Professor of Finance at the Paul Merage School of Business at the University of California at Irvine. He is a frequent speaker at academic and professional conferences; and is on the editorial boards of a number of finance journals. Philippe has authored more than 100 publications on the topic of risk management and international finance. Some of his most notable work includes the Financial Risk Manager Handbook (Wiley 6th ed. 2010), which provides the core body of quantitative methods and tools for financial risk managers; Big Bets Gone Bad: Derivatives and Bankruptcy in Orange County (Academic Press 1995), the first account of the largest municipal failure in U.S. history; and Value at Risk: The New Benchmark for Managing Financial Risk (McGraw-Hill 3rd ed. 2006), the first definitive book on VAR. In 2012 Philippe was appointed to the Federal Reserve's Model Validation Council, an advisory council of economists that will evaluate the models used in bank stress tests. In March 2013, the Financial Analysts Journal honored Philippe Jorion and Rajesh K. Aggarwal's article titled "Is There a Cost to Transparency?" with the 2012 Graham and Dodd Scroll Award. Philippe holds an MBA and a PhD from the University of Chicago and a degree in engineering from the University of Brussels. Philippe has over thirty years of experience in investments and risk management.