Lazard CRO: Risk System Useless Unless You Can Absorb the Data

Yury Dubrovsky, CRO, Lazard Asset Management

Those who cannot afford an amped up risk infrastructure will outsource it, which he says is dangerous.

"I agree that you need to have the best risk analytics possible, but if you don't know what to do with it, it doesn't matter," says Lazard Asset Management CRO Yury Dubrovsky. "You can pay zero or $5 million—it's useless. If the culture of the company is not to absorb that information and do something with it, it's a waste. It requires a cultural shift within the firm."

Contrary to a more optim