SimRisk Challenge

The SimRisk Challenge is an international competition, run by Experian

Run as a virtual competition, teams of credit risk professionals (up to 4 people) compete with teams across the world and get the chance to test and improve their knowledge and practice in credit risk management

The participating teams set new customer management strategies for a fictitious Retail Bank portfolio, strategies are applied on the portfolio. The team which makes the most profit, given the constraints, will be crowned the winners.

Each team develop and manage the strategies and is supported by an Experian ‘driver’ to implement the strategy in Experian’s leading Business Rules Engine - Strategy Management software. Therefore, knowledge of the Strategy Management software is not required.

2009 Edition

For the 1st edition in 2009, 20 teams from banks, finance houses and telecom companies from 12 countries (Bulgaria, Canada, China, Czech Republic, Germany, Hong Kong, Singapore, Spain, Switzerland, Taiwan, Thailand, UK, USA) committed to save a Retail Bank which was losing money.

They were given full access to the Customer Management strategies by using Experian's Strategy Management software and could choose where to increase limits, where to use harsh collections, and where to cross-sell products in the same way that they might in a real-life environment..

The Royal Canucks from Royal Bank of Canada won the competition ahead of the ‘BOC Risk’ team and the Spanish team ‘ACME’. The winning team’s strategy was based on customer segmentation by risk score with the main focus on Account Management.

The winners were awarded their prize at the International Credit Risk Forum held on 19 & 20 November 2009 in Prague.