Abstract

This paper proposes a hybrid management protocol that considers the interplay between market risk measurement and expert's opinions, in a framework of responsible governance. The main dimension of this work is deliberation, as a responsible practice. The configuration and dynamics of experts' panels are considered, as well as the way in which consensus is reached (or not), using sequential studies Delphi in several rounds. The result is a proposal for the creation of an expert committee that examines in a responsible, anticipatory, reflective and deliberative manner, market risk management in banks, incorporating the opinion of experts into the mathematical framework (through the choice of the consensus model among experts and the definition of its parameters).

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