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Professor Allan Timmermann Appointed to Federal Reserve Council
Rady School of Management Professor Allan Timmermann was recently appointed to the Model Validation Council of the Federal Reserve Board. The role of the Model Validation Council is to provide independent expert advice on the board's efforts to assess the effectiveness of the models used in supervisory stress tests of banking institutions.
"I view it as an exciting opportunity and challenge to help improve the quality of the Federal Reserve's program to validate and review supervisory models and help strengthen the confidence in the integrity and independence of that program," said Timmermann.
The Dodd-Frank Wall Street Reform and Consumer Protection Act required the Federal Reserve to conduct annual stress tests of large bank holding companies and systemically important, nonbank financial institutions supervised by the board.
Timmermann is a professor of finance at the Rady School. He serves as an associate editor on leading journals in financial economics and econometrics. Timmermann earned his Ph.D. from the University of Cambridge.