Chris Beck

Principal

Chicago, IL, US

Chris Beck is a member of Milliman’s Risk Advisory Services (RAS) practice group. The practice delivers a portfolio of risk consulting services, such as enterprise risk design, cyber risk assessment and quantification, test and build projects, operational risk assessments, enterprise risk management (ERM) education and training, and ERM technology evaluation. The RAS practice uses diagnostic consulting strategies to understand an organization’s enterprise risk goals and challenges and then customize solutions to deliver required business results.

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Experience

Chris has 15 years of professional experience. His experience includes work in the banking, insurance, capital markets and card sectors helping clients assess and mitigate risk.

Prior to joining Milliman, Chris was a senior manager in Accenture’s Finance and Risk Management Consulting practice, delivering work for global financial service clients. Additionally, Chris served as an active duty Naval Officer and has multiple overseas deployments.

Professional experience and subject matter advisory include:

Cyber security metrics and governance
Financial service regulatory and compliance initiatives
Risk management
Corporate and risk governance
Surveillance
Financial services operating model and cost reduction
Regulatory remediation and responses
Legal department risk and optimization
Leadership of large cross-functional projects and teams

Education

BS Political Science, University of Wisconsin–Madison
MBA, University of Chicago – Booth School of Business

Publications

Read their latest work

Article

Modeling financial losses from a ransomware attack using a causal approach

13 October 2023 - by Chris Beck, Alexandre Boumezoued, Yousra Cherkaoui Tangi, Eliott Pradat

With ransomware attacks on the rise all over the world, regulators are keeping a close eye on the reimbursement of ransoms by insurers.

Article

Climate risk assessment and scenario analysis

28 February 2023 - by Robert Yinpok Lee, Chris Beck, Judith-Anne Brelih, Blake Fleisher, Ryan Huff, Leighton A. Hunley

In this report, a case study on climate change impact on home prices is used to illustrate a Bayesian network iterative approach to building a model for scenario analysis.

Article

Causal modelling: A possible application considering climate risk and asset returns

18 October 2022 - by Chris Beck, Adél Drew, Lewis Duffy, Tatiana Egoshina, Russell Ward

We illustrate a modeling approach that serves as a useful tool to explore the potential impacts of climate risk on future asset returns.

Article

Does it ever make sense for firms to pay ransomware criminals?

21 July 2021 - by Chris Beck, Blake Fleisher

Following AXA’s decision to scale back underwriting insurance that reimburses payments, we examine how companies can analyze whether to pay ransom themselves

Article

Know your cyber blind spots: The importance of modeling cyber risk for businesses

19 March 2021 - by Chris Harner, Chris Beck, Blake Fleisher

This white paper discusses the importance of modeling cyber risk for businesses.

Article

This can be one of the costliest mistakes in an M&A deal

16 November 2020 - by Chris Harner, Chris Beck, Blake Fleisher

To balance the time-sensitive nature of the M&A process with the need to protect against acquiring a breach and destroying value, firms need to employ an efficient and repeatable cyber risk analysis strategy.

Article

Cyberattacks could cripple U.S. financial system

11 March 2020 - by Chris Harner, Chris Beck, Blake Fleisher

A cyberattack on even a mid-sized bank could ultimately cause a cascading failure of interbank funding, leading to a tipping point for a broader systemic liquidity crisis.

Article

The law of unintended consequences: When companies are collateral damage in a cyberattack

09 March 2020 - by Chris Harner, Chris Beck, Blake Fleisher

Cyber is proving to be the ultimate enterprise risk, encompassing not only information technology but also risks involving vendors, people, legal questions, and reputation, all while moving with stealth and a velocity that is extremely difficult to cope with.

Article

Translating cyber threats: How to communicate cyber risk in the boardroom

21 August 2019 - by Chris Beck, Chris Harner

There is a significant need in the market to transform cyber assessments, information technology metrics, and information security into the common language of risk management.

Article

Critical Point Episode 12: Could cyber risk be the next “Big Short”?

13 May 2019 - by Chris Beck, Chris Harner

A cyberattack has the potential to disrupt the world economy, but a new risk management paradigm can help protect against vulnerabilities for insurers and businesses.

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Read their latest work

Article

Modeling financial losses from a ransomware attack using a causal approach

13 October 2023 - by Chris Beck, Alexandre Boumezoued, Yousra Cherkaoui Tangi, Eliott Pradat

With ransomware attacks on the rise all over the world, regulators are keeping a close eye on the reimbursement of ransoms by insurers.

Article

Climate risk assessment and scenario analysis

28 February 2023 - by Robert Yinpok Lee, Chris Beck, Judith-Anne Brelih, Blake Fleisher, Ryan Huff, Leighton A. Hunley

In this report, a case study on climate change impact on home prices is used to illustrate a Bayesian network iterative approach to building a model for scenario analysis.

Article

Causal modelling: A possible application considering climate risk and asset returns

18 October 2022 - by Chris Beck, Adél Drew, Lewis Duffy, Tatiana Egoshina, Russell Ward

We illustrate a modeling approach that serves as a useful tool to explore the potential impacts of climate risk on future asset returns.

Article

Does it ever make sense for firms to pay ransomware criminals?

21 July 2021 - by Chris Beck, Blake Fleisher

Following AXA’s decision to scale back underwriting insurance that reimburses payments, we examine how companies can analyze whether to pay ransom themselves

Article

Know your cyber blind spots: The importance of modeling cyber risk for businesses

19 March 2021 - by Chris Harner, Chris Beck, Blake Fleisher

This white paper discusses the importance of modeling cyber risk for businesses.

Article

This can be one of the costliest mistakes in an M&A deal

16 November 2020 - by Chris Harner, Chris Beck, Blake Fleisher

Article

Cyberattacks could cripple U.S. financial system

11 March 2020 - by Chris Harner, Chris Beck, Blake Fleisher

A cyberattack on even a mid-sized bank could ultimately cause a cascading failure of interbank funding, leading to a tipping point for a broader systemic liquidity crisis.

Article

The law of unintended consequences: When companies are collateral damage in a cyberattack

09 March 2020 - by Chris Harner, Chris Beck, Blake Fleisher

Article

Translating cyber threats: How to communicate cyber risk in the boardroom

21 August 2019 - by Chris Beck, Chris Harner

There is a significant need in the market to transform cyber assessments, information technology metrics, and information security into the common language of risk management.

Article

Critical Point Episode 12: Could cyber risk be the next “Big Short”?

13 May 2019 - by Chris Beck, Chris Harner

A cyberattack has the potential to disrupt the world economy, but a new risk management paradigm can help protect against vulnerabilities for insurers and businesses.

Chris Beck

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Experience

Read their latest work

Modeling financial losses from a ransomware attack using a causal approach

Climate risk assessment and scenario analysis

Causal modelling: A possible application considering climate risk and asset returns

Does it ever make sense for firms to pay ransomware criminals?

Know your cyber blind spots: The importance of modeling cyber risk for businesses

This can be one of the costliest mistakes in an M&A deal

Cyberattacks could cripple U.S. financial system

The law of unintended consequences: When companies are collateral damage in a cyberattack

Translating cyber threats: How to communicate cyber risk in the boardroom

Critical Point Episode 12: Could cyber risk be the next “Big Short”?

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Chris Beck

Read their latest work

Modeling financial losses from a ransomware attack using a causal approach

Climate risk assessment and scenario analysis

Causal modelling: A possible application considering climate risk and asset returns

Does it ever make sense for firms to pay ransomware criminals?

Know your cyber blind spots: The importance of modeling cyber risk for businesses

This can be one of the costliest mistakes in an M&A deal

Cyberattacks could cripple U.S. financial system

The law of unintended consequences: When companies are collateral damage in a cyberattack

Translating cyber threats: How to communicate cyber risk in the boardroom

Critical Point Episode 12: Could cyber risk be the next “Big Short”?

CHOOSE A LOCATION AND LANGUAGE