Company Filing History:
Years Active: 2012-2013
Title: Michael Chorba: Innovator in Risk and Reward Assessment
Introduction
Michael Chorba is an accomplished inventor based in Charlotte, NC (US). He has made significant contributions to the field of risk and reward assessment methodologies, particularly for consumers and small businesses. With a total of 2 patents to his name, Chorba's work is recognized for its innovative approach to data-driven decision-making.
Latest Patents
Chorba's latest patents focus on a risk and reward assessment mechanism. This methodology is designed to provide a forward-looking risk and reward appetite for consumers and small businesses. It includes account-level historical data collection for customers associated with accounts as part of a portfolio. The historical data is segmented into groups of customers with similar revenues and loss characteristics. This segmented data is then analyzed to form statistical clusters based on various effects, such as seasoning, vintage, and cycle effects. A simulation is applied to these statistical clusters to generate predictive data. Furthermore, efficient frontier curves of risk and reward are created for the current portfolio under various economic scenarios.
Career Highlights
Chorba is currently employed at Bank of America Corporation, where he applies his expertise in risk assessment and financial modeling. His work involves creating methodologies that optimize portfolios by forecasting expected values and volatilities of revenue and loss. He utilizes a generalized additive effect decomposition model to fit historical data, allowing for the creation of groups of customers with similar revenue and loss characteristics.
Collaborations
Chorba has collaborated with notable colleagues such as Agus Sudjianto and Daniel Hudson. Their combined expertise contributes to the innovative solutions developed within the organization.
Conclusion
Michael Chorba's contributions to risk and reward assessment methodologies highlight his role as a leading inventor in the financial sector. His innovative approaches continue to shape the way businesses assess risk and optimize their portfolios.