Cyber Risk Modeling

This course is worth 3 CIA CE credits.

Course Overview

Unlock a fresh perspective on systemic risk issues and the future of cyber risk modeling in this advanced short course, created in collaboration with industry leader Moody’s RMS.

This course is designed to provide a comprehensive introduction to cyber risk modeling, focusing on the unique challenges that differentiate it from other forms of risk modeling, such as catastrophe (CAT) risk. We will explore fundamental concepts, tools, and frameworks necessary for understanding and applying cyber risk modeling techniques in practice. We will examine the key challenges in modeling cyber risk and discuss how these challenges shape our approach to quantifying cyber exposure. Participants will learn about the critical components of cyber models, the types of data necessary for effective modeling, and the various frameworks used in the industry to assess cyber risk.

About Your Instructor

Bethany Vohlers is a Cyber Model & Product Specialist in the Moody’s RMS Cyber Solutions team, where she is responsible for driving the global growth and adoption of Moody’s RMS Cyber Solutions to support diverse use cases across the (re)insurance value chain.

With more than a decade of experience in financial and quantitative modelling, she specialises in domains such as catastrophe risk modelling, cyber risk scoring and quantification, portfolio aggregation, and enterprise risk management (ERM). Bethany’s passion for Cyber (re)insurance propels her commitment to pushing the frontiers of the market’s maturity. She holds dual degrees in Statistics and Computer Science summa cum laude from North Carolina State University.

Learning Objectives

• Define EP and explain how it is used in catastrophe modeling.
• Explain how models are used by market stakeholders.
• Apply challenges that are unique to cyber risk demonstrate how approaches to cyber risk differ from those applied to other risks.
• Lisy the properties of effective CAT models.
• Assess cyber policy T&Cs and minimum cyber hygiene benchmark requirements based on cyber exposure data.
• Describe how cyber events are generated and interpreted.