Former White House Economists to Discuss Social Security, National Debt to Kick Off ‘Finance Grand Challenges’ Series at Smith

In an exceptional gathering of economic minds, the University of Maryland’s Robert H. Smith School of Business is set to host the inaugural ‘Finance Grand Challenges’ speaker series. The event, scheduled for 6 p.m. on Monday, Feb. 12, will feature a panel of esteemed economists, all of whom have served under recent White House administrations.

Smith Experts Assess Drug Manufacturing Risk from Natural Hazards

A July tornado that tore across the Rocky Mount, N.C., region left severe damage including to a Pfizer facility. Amid subsequent supply chain disruption, the manufacturer alerted hospitals to a list of 12 drugs available only through emergency orders “due to their high medical need,” effective “immediately and until further notice.” The disruption further prompted action from risk management expert Clifford Rossi and students in the Master of Quantitative Finance (MQF) program at the University of Maryland’s Robert H. Smith School of Business.

Top Research Award to Russ Wermers’ Paper Exploring the Role of Economies-of-Scale in Pension Management

A paper coauthored by Smith’s Russell Wermers is selected for the top prize in the International Centre for Pension Management (ICPM) 2023 Research Awards.

Smith Research Identifies Flaw in SEC Move to Help Investors in Retail Stock Trading Surge

COVID-19 lockdowns and subsequent stimulus payments left many Americans with extra time and cash. Among the effects was a surge in retail stock trading through zero-commission brokerages. This worked to drive up the share price of meme stocks and led to market volatility.

Is Your Maryland Home At Risk for Damages from Climate Disasters?

Many Maryland homeowners are increasingly faced with the threat of costly home repairs from extreme weather events. With climate change, these events are becoming more frequent and more intense. And that could mean bigger problems for homeowners – particularly those who don’t have the extra cash to handle repairs.

The Collapse of Silicon Valley Bank: Smith Experts Analyze and Explain It

The collapse of Silicon Valley Bank is the second largest bank failure in U.S. history. SVB was taken over by the FDIC last Friday after depositors, fearing the bank would soon be unable to pay its debts, began withdrawing their money at an alarming rate.  Smith experts Cliff Rossi and Bill Longbrake recently spoke with Progyan Basu, clinical professor of Accounting and Information Assurance, about the impact of this failure on the banking industry and the economy as a whole.

The three lines of defense (3LoD) doctrine is well-established at most depository institutions, providing a framework that establishes accountability for risk with business units and a checks and balances mechanism on risk management across the enterprise. Even so, 3LoD by itself is not sufficient to ensure risks are managed effectively. Several high-profile risk events at some large banks over the last several years have highlighted issues that can undermine the 3LoD framework.

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Toxic Train Derailment Vexing for Real Estate Industry

Health safety for residents following the Feb. 3 Norfolk Southern train derailment in East Palestine, Ohio, has been a top concern. Has it really been safe enough to return – both for the short- and long-term?

How to Bolster Climate Scenario Analysis

The Federal Reserve Board has engaged six of the biggest U.S. banks in a pilot Climate Scenario Analysis (CSA) to assess and “advance the ability of supervisors and banks to analyze and manage emerging climate-related financial risks.”

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