Shared methods
Common approaches to protection gaps, compound scenarios and model risk, developed with scientists and engineers and open to examination.
Membership· Participation
A business league for the financial services industry
Measure together what no balance sheet can see alone.
The Global Risks Alliance (GRA) is a business league for the financial services industry and the finance steward of the Nexus Consortium. Membership is designed to bring financial institutions and the professionals who manage financial risk into one precompetitive effort: measuring correlated exposures, sizing protection gaps and building the methods and skills the industry lacks.
Membership termsStated in advance
- WhoFinancial institutions, and professionals working on financial risk
- PathwaysFive, by capacity, never by tier
- SafeguardsPrecompetitive work only, under a written competition policy that counsel reviews before membership opens
- FeeNone published; none is charged today
- Open nowInformation and enquiries; applications open once terms are adopted
Membership confers no authority, endorsement or data access
01Why join
Questions no single institution can answer.
Systemic risk is shared by definition. Exposure to the same hazards, providers and counterparties cannot be measured from inside one balance sheet. Members do together the precompetitive research none can do alone, and publish what they learn.
A cross-sector view
Insurance, banking, investment, development and public finance professionals read the same evidence, so dependencies between sectors become visible.
Professional capability
Learning in systemic risk and finance readiness, and a route into Universe, the annual test cycle of the Nexus Consortium.
02Pathways
Five ways to take part, by capacity.
Each pathway is defined by who takes part and in what capacity. Each row states what it involves, what it never confers and where it stands today.
- Institutional members
The institution is the member
Banks, insurers, reinsurers, asset owners and managers, development lenders, market infrastructure and fintech firms, through authorised representatives, a contribution plan and participation in platforms and working groups.
Not: a council seat, a consortium role, restricted data or influence over a findingTerms not yet adopted - Professional participation
Specialists in a personal capacity
Actuaries, risk managers, quantitative analysts, economists and engineers contribute to platforms and working groups and take part in learning.
Not: regulated authority, a licence or the right to speak for an employerTerms not yet adopted - Industry councils
A sector sets its research questions
Senior representatives of a sector, appointed only under council terms once adopted, set the sector’s research questions and review its work programme.
Not: statutory or supervisory standingNot constituted - Working groups
Bounded research by competence
Members and invited experts do method and research work with a named lead, review points and a publication route.
Not: ownership beyond agreed rights, or a fee for ordinary participationNot yet open - Professional learning
Skills the industry lacks
Materials and programmes on systemic risk, scenarios and finance readiness, for members and the wider profession.
Not: a licence or certificate; completion is recorded only when verifiedNot yet open
Public servants, including supervisors, may take part in open GRA work only in their institutional role and under their own institution’s rules; membership is not designed for them. Institutions that also take part in a national programme do so through the National Nexus Consortium (NNC), the institutional pillar of the programme, including through its constituency councils. That is a separate route; participation routes across the Consortium are described by The Global Risks Forum (GRF) on Participate.
03Competition-law safeguards
Every meeting, under the same rules.
Members compete, so GRA programmes are precompetitive by design: they improve shared evidence and methods and never touch commercial decisions. The five safeguards bind every council, working group, platform and event, in a written competition policy that counsel reviews before membership opens.
- 01
Topics that are never discussed
Prices, premiums, rates, fees, margins, wages, bids, underwriting, lending or coverage terms, capacity, and individual customers or suppliers.
- 02
Agreements that are never made
No allocation of markets, customers or territories, no collective refusal to deal, no collective commitment on which sectors, firms or projects to finance, insure or invest in, and no standard that excludes a competitor without objective reason.
- 03
Information that is never exchanged
No member’s confidential or competitively sensitive data passes to another. Any industry data used in research is aggregated so that no individual firm can be identified.
- 04
How meetings run
A written agenda in advance, minutes recorded, and the chair stops any discussion that strays. Any participant may stop a discussion and raise the concern with compliance.
- 05
Independent decisions
Membership is designed never to limit a member’s own commercial choices, and no member is required to adopt any method GRA publishes.
04Conduct and complaints
Fair process for members and for the public.
Membership carries obligations as well as opportunities. When something goes wrong, there is a route to raise it and a fair process to settle it.
Obligations
Declare conflicts of interest, respect confidentiality and data rights, follow the competition rules, and never present GRA participation as an endorsement or a licence.
Complaints
Anyone, member or not, can raise a complaint at the integrity concern form, or a competition-law or conduct concern at the integrity and conduct concern form. Each is designed to be reviewed by someone not responsible for the contested decision, with reasons given.
Appeals and corrections
A decision on membership or conduct can be appealed under the adopted terms. Errors in public material are corrected as recorded versions.
05What membership does not confer
Each step is its own step.
When these states blur, claims outgrow facts. GRA keeps them apart.
| This | Is not |
|---|---|
| An enquiry | Membership, an application or an engagement |
| A submitted application | Acceptance as a member |
| Membership | Authority, an appointment, a council seat, an endorsement, regulatory standing or data access |
| A contribution or fee | Influence over a finding, an appointment or access to restricted data |
| A name shown on a GRA page | An endorsement by GRA, or of GRA |
| Readiness evidence | A financing or underwriting decision |
06Open now
Open now: information and enquiries.
Membership opens in stages, each only when its team, terms and review capacity exist. Today you can register interest; the acknowledgement gives a reference and names the next step, and your interest stays on record for when applications open.
- Level 0
Information
Understand GRA, its pathways and its boundaries.
Open now - Level 1
Enquiry
Send a question or register interest and receive a reference.
By email - Level 2
Application
Apply for a defined pathway under published terms, with an appeal route.
Not yet open - Level 3
Commitment
An accepted member enters a specific agreement with the correct parties and scope.
Not yet open - Level 4
Operation
Members take part in councils, working groups and learning.
Not yet open
07Questions
Questions about GRA membership.
How much does GRA membership cost?
No membership fee is published and none is charged today. Any fee schedule is published with the issuing organisation, currency, effective date and the pathways it applies to, before any application opens.
Can I apply now?
Not yet. Applications open once membership terms are adopted and a team is in place to review them. You can register interest now at the membership application form; the acknowledgement gives a reference and names the next step.
Does membership give access to supervisors or regulators?
No. GRA offers no privileged access to any public authority. Supervisors may take part in open GRA work only in their institutional role, and membership confers no regulatory standing on anyone.
Can a member influence GRA research?
Members are designed to contribute expertise and propose questions. They cannot approve a publication, alter its evidence or own its findings because of their membership or any contribution. Conflicts of interest are declared and recorded.
Is GRA membership the same as joining a National Nexus Consortium?
No. GRA membership is participation in a financial services business league. National programmes have their own structures, including the National Nexus Consortium for institutions, under national ownership. An institution can take part in both, through separate steps.
Can competitors sit in the same working group?
Yes, for precompetitive work on shared evidence and methods, and only under the safeguards set out in GRA’s written competition policy, which counsel reviews before membership opens. Prices, terms, customers, collective commitments and confidential information are never discussed or exchanged.
ReportsContribute
Contribute evidence from this page.
Reports is the Consortium’s quarterly publication. What you know about this subject can become evidence, a case or a correction in the next edition, credited to you and published under CC BY 4.0 where it is your own work.
Global Risks Alliance
- EmailGateway GW-GRASend it from this pageEvidence, a correction, a case, a method, a review, a translation or profile input. It arrives tagged with this page, so the editor who owns it receives it.
- ZenodoOpen depositDeposit it and submit to the communityPublish your own record on Zenodo with your ORCID iD, then submit it to the Reports community there. Curators review it; the DOI stays yours.
- ReportsGlobal Risks AllianceSee every way to contributeThe contribution types, how each is reviewed, what credit you receive, the licence and what is never accepted.
Never send personal data, sensitive infrastructure detail or anything you have no right to share. A contribution is reviewed before use; sending it confers no authorship or editorial rights, and sponsorship never buys a finding.
Related
Before you register interest.
Membership
Register your interest in GRA membership.
Tell GRA which pathway interests you and in what capacity. The acknowledgement gives a reference and names the next step. An enquiry is not an application, and it creates no membership or obligation.
Related