Mission and public value
The Global Risks Alliance (GRA) exists to make systemic risk understandable across the financial world. Financial institutions are asked to price, hold and supervise risks that originate in water, energy, food, health, infrastructure and technology. The evidence about those risks exists, but rarely in a form that answers financial questions. GRA closes that distance through financial risk learning and cross-sector professional cooperation, as a nonprofit corporation registered in Nevada, United States, operating as a business league for the financial services industry. See About GRA.
- 01InstitutionThe Global Risks Alliance (GRA)
- 02Service levelR0: information and enquiries
- 03In briefThe short answer
- 04MissionTranslate, prepare, cooperate
- 05Public valueWhy an industry effort serves the public
- 06Limits of the missionPreparation, never decision
- 07Key termsTerms used on this page
GRA · Institution · service level R0
The short answer.
GRA's mission is to make systemic risk understandable across the financial world. Financial institutions are asked to price, hold and supervise risks that originate in water, energy, food, health, infrastructure and technology, and GRA translates the evidence into financial questions through risk learning and cross-sector preparation, never decision.
Mandate to authority.
Fig.How the platform is governed, from its mandate to the authorities who decide. Design, not a record.
Financial centres and urban exposure in Oceania and the Pacific.
The cities where people, assets and financial activity concentrate, shown for Oceania and the Pacific as an example geography for this subject.
Translate, prepare, cooperate.
Read evidence for finance
Read risk evidence for its financial transmission: which balance sheets, which counterparties, which public budgets, through which channels and over what horizon.
Readiness with limits stated
Assemble exposure, protection-gap and scenario evidence into readiness work, with every gap and limit stated, so a competent institution can begin its own review.
Shared, precompetitive work
Bring professionals from across the industry together on shared questions, and build the skills the industry needs to understand systemic risk.
Why an industry effort serves the public.
When financial institutions understand risk only after losses arrive, the cost falls on households, firms and public budgets: cover is withdrawn, credit tightens and governments pay for disasters from budgets built for other purposes. Earlier, shared understanding can change that sequence.
- Protection gaps measured and explained, rather than discovered after an event.
- Compound scenarios that cross physical, operational and technological risk, read in financial terms.
- Professional learning that equips actuaries, risk managers, analysts and engineers to work on the same questions.
- Published methods and findings, where review and rights allow, open to examination and correction through Research and intelligence.
Preparation, never decision.
GRA's mission ends where a regulated decision begins. It never lends, underwrites, rates, invests or approves, and it recommends no investment, insurer or lender. Four rules govern every output: participation is not authority, readiness is not approval, visibility is not endorsement, and stewardship is not execution. The full line is drawn on Regulated-activity boundaries.
Terms used on this page.
Each term as this page uses it. Where a standard-setting body defines the term, the wording follows that body.
| Term | Definition |
|---|---|
| Mission statement | A short statement of an organization's purpose: what it does, for whom and why, against which its activities can be judged. |
| Systemic risk | The risk of disruption to financial services caused by impairment of all or parts of the financial system, with serious consequences for the real economy, as the IMF, FSB and BIS define it. |
| Insurance protection gap | The difference between economic losses and insured losses, for an event, a year or an expected annual figure. |
The finance reading of shared evidence.
The science behind each shock comes from The Global Centre for Risk and Innovation (GCRI); The Global Risks Forum (GRF) governs the annual test in Nexus Universe. GRA's contribution is the financial reading of that evidence. Its place in the programme is set out on GRA in the Consortium, and the evidence it reads is described on GCRI science and methods.
Questions and answers.
Who benefits from GRA's mission?
Does the mission include financing resilience projects?
What is open today?
Around GRA.
Start with an enquiry.
The current service level is R0: information and enquiries. An enquiry receives a reference and names the next step; applications, payments, compute allocations and registrations open only when their team, terms and review capacity exist.