I recently mentioned in a video that a CEO really supported model development which resulted in passing regulations, managing risk, and increasing risk adjusted profits. A new CEO reduced quantitative rigor in an attempt to save money. The question was asked, Do I think Model Development really makes a bog difference?

Yes, it is what drives every bank and financial institution. It reduces risk, increases accuracy, increases profits, and provides a competitive edge in the market among competitors. It also results in fair treatment of consumers and better financial deals for consumers.

The hardest piece to figure out is how much value each quant adds as their skills are all very different. There is obviously a margin value to increase quantitative skills. Getting just the right tradeoff between employee costs (salaries) and value from the employees to improve the business is challenging.


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