GRA
Spatial financeWhere capital meets hazard, exposure and transition
How Nexus works
The work cycle is the path from a question to evidence, a governed build, an organised community, a controlled test, a reviewed publication and, finally, a decision by a competent authority. The Global Risks Alliance (GRA) works at one point on that path. It turns risk evidence into the questions banks, insurers, investors and public finance authorities ask. It hands evidence over only on the project owner’s instruction.
01Contents
How Nexus works in five parts.
02The cycle
Eight steps, each in its pillar.
- Question Universe Question: what GRA contributes
- Evidence Foundry Evidence: what GRA contributes
- Build Foundry Build: what GRA contributes
- Organise Universe Organise: what GRA contributes
- Test Universe Test: what GRA contributes
- Publish Reports Publish: what GRA contributes
- Decide Competent authority Decide: what GRA contributes
- Renew Universe Renew: what GRA contributes
Each step in the pillar it runs in; the decision stays with the competent authority, outside the programme.
- Labs
- Foundry
- Universe
- Nexus Standards
- Reports
- Risk Academy
- Competent authority (outside the programme)
- QuestionNational, regional or institutional priorityQuestion: what GRA contributes
- EvidenceSTEM foundation of the platformEvidence: what GRA contributes
- BuildFoundryBuild: what GRA contributes
- OrganiseNexus ecosystemOrganise: what GRA contributes
- TestUniverse (independent site)Test: what GRA contributes
- PublishReportsPublish: what GRA contributes
- DecideCompetent authorities and institutions, through NXS-RLS (participants, agreements and handoffs)Decide: what GRA contributes
- RenewCorrections and the next annual agendaRenew: what GRA contributes
03GRA in the cycle
What GRA contributes at each step, and what it never does.
| Step | GRA contribution | Never |
|---|---|---|
| Question | Brings the financial sector’s questions: who bears the loss, through which channel, at what horizon | Sets a country’s or an institution’s priorities |
| Evidence | Restates hazard and exposure evidence in financial terms with labels | Upgrades an estimate to an observation |
| Build | Frames spatial finance layers and readiness files in Foundry | Builds a product for sale |
| Organise | Convenes precompetitive industry work under competition safeguards | Hosts discussion of prices, terms or customers |
| Test | Designs finance and insurance injects for Universe exercises | Treats an exercise result as a forecast |
| Publish | Contributes to the Finance and Insurance Readiness and Portfolio and Readiness series | Publishes a rating or a ranking |
| Decide | Hands a readiness file to a competent institution on the project owner’s instruction | Lends, underwrites, invests, approves or advises |
| Renew | Records corrections and lessons for the next question | Edits a record silently |
04Process
How the process runs.
Process
How Nexus works: Programme through eight gates
The Global Risks Forum (GRF) records eight yearly gates, each a programme decision; a gate not passed stops its work, and the competent authority decides outside.
01 Q1 · Planning
- 01G0 · Annual programme authorisedGate · The Global Risks ForumGRF authorises the annual mandate. It never sets a national agenda.
- 03Route the candidate mission to standardsStep · Nexus StandardsNexus Standards routes each candidate mission to the standards and profiles that apply.
02 Q2 · Readiness and build
- 04G1 · Missions admittedGate · The Global Risks ForumGRF admits missions with reasons recorded. It cannot admit a mission without an accountable owner.
- 05G2 · Data and resources qualifiedGate · The Global Risks ForumReadiness preparation closes when data, people and resources are qualified.
- 06G3 · Build accepted for exerciseGate · The Global Risks ForumGRF records whether the build is accepted for exercise. A gate not passed stops the work it governs.
03 Q3 · Action Week
- 07G4 · Controlled live operation authorisedGate · The Global Risks ForumGRF authorises controlled live operation for Action Week.
- 08G5 · Evidence sealed and stand-down recordedGate · The Global Risks ForumThe evidence is sealed with its provenance and the stand-down is recorded.
04 Q4 · Reporting and renewal
- 02Competent authority decides and actsActor · The competent authorityThe competent authority decides and acts under its own rules. The programme informs it and never decides for it.
- 09Scientific and editorial reviewStep · Reviewers and the publisherQualified, conflict-managed reviewers and the publisher decide what is accepted. Institutions cannot decide a scientific conclusion.
- 10G6 · Publication authorisedGate · The Global Risks ForumGRF authorises publication of results that have passed scientific and editorial review. It cannot publish personal data.
- 11G7 · Renewal reviewedGate · The Global Risks ForumGRF reviews renewal and sets the next cycle’s mandate.
The programme year · The Global Risks Forum · Decision rightsDesigned programme process, not a record of operation. No cycle has run and every programme is at service level R0. A gate is a programme decision, never a public-authority approval, certification or deployment authorisation.
05Six pillars
How this works across the six pillars.
GRA works through six pillars of one annual programme, led by the Nexus Consortium, with the Global Centre for Risk and Innovation (GCRI), GRF and GRA each contributing in its role: explore, experiment and prototype in Labs, build, simulate and prepare in Foundry, convene and test in Universe, codify, correct and apply in Nexus Standards, publish in every format in Reports, teach in the open in Risk Academy.
Select pillars · hover lines18 / 18 handoffs
handoff in playrecorded handoffno direct handoff
Programme yearAll phases
Route
The whole programme
Every pillar hands its work to another; together they close the year’s feedback loops.
L · F · U · S · R · A
- Pillars
- 6 of 6
- Handoffs
- 18 of 18
- Loops
- 17 closed
Handoffs in play
- F01Universe → Foundry · Admitted mission becomes a cycle project with a decision caseReadiness preparation
- F02Foundry → Universe · Core Build Report and go or no-go evidenceControlled build
- F03Foundry → Reports · Sealed observations and indicator series behind a profileCloseout
- F04Universe → Reports · After-action and scenario findings for chapters 10 and 13After-action review
and 14 more
- LabsWhere questions become experiments and prototypes: new methods, data and tools are tried in the open, with their limits on record, before the Foundry builds them, under the Nexus Consortium.Labs
- FoundryWhere exposure and scenario evidence is built so supervisors, insurers and investors can read it.Foundry at GRA: BuildFoundry
- UniverseWhere scenarios are tested in controlled exercises, and finance-readiness dialogues read what they mean for capital and cover.Universe at GRA: Universe finance-readiness programmeuniverse.nexus
- Nexus StandardsWhere disclosure and data rules are codified so risk evidence is comparable for finance and insurance.Nexus Standards
- ReportsWhere sector analysis and the finance and insurance readiness series are published, with exposure and limits stated.Reports at GRA: PublishReports
- Risk AcademyWhere finance, insurance and public-finance professionals learn to read risk evidence, on Risk Academy.Risk Academy
What each institution brings to each pillar
| Pillar | GCRI | GRF | GRA |
|---|---|---|---|
| Labs | Runs the experiments: its science and technology teams design prototypes, record the method and publish what failed as well as what worked. | Brings the questions that policy and governance need answered, and admits an experiment to the programme at a recorded gate. | Brings finance questions to test, so a prototype is tried on evidence that financial institutions can read. |
| Foundry | Its science and technical platforms bring the methods, data and evidence that the Foundry builds on. | Admits missions and accepts the build for exercise at a recorded gate, so Foundry work enters the programme on the record. | Brings finance-readiness questions, so builds produce evidence that financial institutions can read. |
| Universe | Its technical office prepares the scientific and data readiness of each mission. | Stewards and governs the programme: the mandate, gates G0 to G7, convening and Action Week. | Runs finance-readiness dialogues on what each mission means for finance and insurance. |
| Standards | GCRI Canada is publisher of record and secretariat; GCRI stewards the evidence, methods, data and open research behind the standards. | Convenes participation and keeps the public record of recognition and standing. | Makes the standards readable to finance and insurance. |
| Reports | Hosts the canonical Reports site and publishes evidence on countries, sectors and methods. | Publishes governance analysis and authorises publication of the year’s results at gate G6. | Publishes sector analysis and the finance and insurance readiness series. |
| Academy | Authors courses on methods, data and the Foundry systems, hosted on Risk Academy. | Authors courses on governance, policy and programme roles, hosted on Risk Academy. | Authors courses on finance, insurance and readiness, hosted on Risk Academy. |
The pillars through the programme year
| Pillar | Q1 · State and Agenda | Q2 · Evidence and Build | Q3 · Stress Test and Readiness | Q4 · Annual Synthesis and Renewal |
|---|---|---|---|---|
| Labs | Opens the year’s experiments on the questions the mandate names | Runs prototypes in short cycles; hands reproducible ones to the Foundry | Tests ideas alongside Action Week; records what failed and why | Writes up every experiment; proposes next year’s questions |
| Foundry | Opens cycle projects; National Portfolio baseline | Qualifies sources; one-month controlled build | Runs simulations in Action Week; releases temporary capacity | Supplies data bundles; registers capability gaps |
| Universe | Annual mandate (G0) | Missions admitted (G1), qualified (G2), build accepted (G3) | Action Week (G4), stand-down, evidence sealed (G5) | Publication authorised (G6), renewal (G7) |
| Standards | Routes missions to standards | Composes profiles; validates the build | Monitors conformance; findings become proposals | Council review; adopted changes published |
| Reports | State and Agenda edition | Evidence and Build edition | Stress Test and Readiness edition | Annual Synthesis, the flagship |
| Academy | Pathways open; cohorts enrol | Qualification courses; learning on the build | Exercise assessments; completion records | Course revisions; next cohorts open |
06GRA’s part
What GRA contributes.
| Step | GRA contribution |
|---|---|
| Question | brings the financial sector’s questions about systemic risk |
| Evidence | contributes sector-level, aggregated financial understanding |
| Build | frames finance-readiness questions for Foundry builds |
| Organise | organises industry platforms under its competition safeguards |
| Test | contributes financial-sector themes to Universe |
| Publish | publishes sector analysis in Reports |
| Decide | prepares readiness files for independent review; it never approves, lends or invests |
| Renew | updates sector analysis as evidence changes |
07Sources
Where this page’s references lead.
The bodies and documents this page is read against. Status and editions change; each link goes to the issuing body.
08Pages
Pages in this section.
09Questions
Questions and answers.
Who decides at the end of the cycle?
The competent authority or institution, under its own rules. The cycle supplies evidence and options; it does not decide.
The Global Risks Alliance
Bring an exposure or capital question to the Alliance.
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