Credit Risk Assessment: An Introduction (Part 1)

AJoseph M. Pimbley(Ph.D. in Theoretical Physics) is Principal of Maxwell Consulting, a firm he founded in 2010. Joe also serves as a member of Risk Professional?s Editorial Board, a member of the Advisory Board of Solve Advisors, Inc. (financial technology and analytics), a member of the Strategic Advisory Board of ARMA International, LLC (infrastructure engineering), and a member of the Executive Advisory Board of the Quantitative Finance and Risk Analytics (QFRA) Master?s program at the Lally School of Management of the Rensselaer Polytechnic Institute. Joe is expert in complex financial instruments, financial risk management (certified as FRM by the Global Association of Risk Professionals), valuation, structured products, derivatives, and quantitative algorithms. His recent and current engagements include financial risk management advisory, valuation and credit underwriting for structured and other financial instruments, and litigation testimony and consultation.

In a prominent engagement from 2009 to 2010, Joe served as a lead investigator for the Examiner appointed by the Lehman bankruptcy court to resolve numerous issues pertaining to history?s largest bankruptcy. Joe and his colleagues discovered Repo 105 and also reported the critical importance of pledged collateral mishaps and mischaracterizations to the Lehman failure.

Joe?s earlier Wall Street roles included positions as quantitative analyst, risk manager, derivative trader, and portfolio manager reaching the level of Executive Vice President for Head of Institutional Risk. His experience during this period includes leadership of business groups, information technology, enterprise risk management, and quantitative modeling teams. Joe is a co-author of Banking on Failure (2014), Simple Money (2013), and Advanced CMOS Process Technology (1989). He has written more than thirty finance articles, presented more than sixty finance seminars, and holds numerous patents for engineering inventions.

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