CFS Conference on Behavioral Risk Management

Please click on each title to see the corresponding presentation. 

The report from the event is available here. 

The photos from the event are available here. 

The conference fee is EUR 50 for academics and EUR 100 for practitioners. Presenters are exempt from the conference fee.

If you have any administrative questions about the conference, please contact the CFS Office (info(at) Please direct other questions to the main conference organizer Thomas Kaiser (kaiser(at)


March 14, 2017
09:30 Registration and Coffee
10:00 - 10:15 Welcome and opening remarks
Thomas Kaiser (Goethe University and KPMG)
10:15 - 10:55 The neuroscience of risk taking
Bernd Weber (CENs Bonn)
10:55 - 11:35 Experimentally validated general risk attitude among different ethnic groups – The case of Dak Lak, Vietnam
Dien Pham (Leibniz University Hannover)
11:35 - 12:20 Panel Discussion: Risk Culture in Banks
Thomas Kaiser (Goethe University and KPMG)
Peter Prebil (ERSTE Group)
Thomas Poppensieker (McKinsey)
Mark Wahrenburg (Goethe University), Moderator
12:20 - 13:00 Lunch break
13:00 - 13:40 Naked Aggression: Personality and portfolio manager performance
Nir Vulkan (Oxford University)
13:40 - 14:20 Behavioral patterns in rogue trading: Analysing the cases of Nick Leeson, Jérôme Kerviel, and Kweku Adoboli in light of the control balance theory
Sebastian Fritz-Morgenthal (Bain & Company) and Hagen Rafeld (Deutsche Bank)
14:20 - 15:00 Management of behavioral risk in the first line of defence – between culture, training and artificial intelligence
Udo Milkau (DZ BANK)
15:00 - 15:15 Coffee break
15:15 - 16:00 Panel Discussion: Mitigating Behavioral Risk
Günter Franke (Konstanz University)
Jens Riedel (Egon Zehnder)
Bernd Weber (CENs)
Carsten Lehr (Deutsche Finanzagentur), Moderator

Agenda as pdf


Prof. Dr. Thomas Kaiser, Goethe University and KPMG
Prof. Dr. Mark Wahrenburg, Goethe University
Prof. Dr. Bernd Weber, Bonn University and CENs