Curriculum Vitae

Current Affiliations

Acting Associate Director (from June 2017) and Research Principal
Office of Financial Research (OFR), U.S. Department of the Treasury (Washington, DC)
February 2011 - Present
Senior Partner
ProBanker Simulations, LLC (Washington, DC)
January 2000 - Present (part time)

Education

Doctor of Philosophy in Finance, December 1990
University of North Carolina (Chapel Hill)
  • Dissertation: Market Structure and Inefficiency in the Foreign Exchange Market, co-chaired by Profs. Mark J. Flannery and Mustafa N. Gültekin
Bachelor of Arts in German and Economics, December 1983
Indiana University (Bloomington)
Bachelor of Science in Finance, August 1982
Indiana University (Bloomington)

Published Research

J. Chen, M. Flood, and R. Sowers, "Measuring the Unmeasurable: An application of uncertainty quantification to Treasury bond portfolios", Quantitative Finance, 17(10), October 2017, 1491-1507.
L. Fan, and M. Flood, "An Ontology of Form PF", proceedings paper, DSMM'16: Proceedings of the International Workshop on Data Science for Macro-Modeling (2016 ACM SIGMOD Conference), San Francisco, CA, USA, July, 2016.
M. Flood, H. V. Jagadish, and L. Raschid, "Big Data Challenges and Opportunities in Financial Stability Monitoring", Financial Stability Review, 20, Banque de France, April 2016, 129-142.
M. Flood, and P. Monin, "Form PF and the Systemic Risk of Hedge Funds: Risk Measurement Precision for Option Portfolios", Journal of Alternative Investments, 18(4), Spring 2016, 125-147.
M. Flood, V. L. Lemieux, M. Varga, and B. L. Wong, "The Application of Visual Analytics to Financial Stability Monitoring", Journal of Financial Stability, 27, December 2016, 180-197.
M. Flood, and G. Korenko, "Systematic Scenario Selection: Stress Testing and the Nature of Uncertainty", Quantitative Finance, 15(1), January 2015, 43-59.
B. Ball, M. Flood, H. V. Jagadish, J. Langsam, L. Raschid, and P. Wiriyathammabhum, "A Flexible and Extensible Contract Aggregation Framework (CAF) for Financial Data Stream Analytics", proceedings paper, DSMM'14: Proceedings of the International Workshop on Data Science for Macro-Modeling (2014 ACM SIGMOD Conference), Snowbird, UT, USA, June, 2014.
V. Lemieux, P. Rahmdel, R. Walker, B. W. Wong, and M. Flood, "Clustering Techniques And their Effect on Portfolio Formation and Risk Analysis", proceedings paper, DSMM'14: Proceedings of the International Workshop on Data Science for Macro-Modeling (2014 ACM SIGMOD Conference), Snowbird, UT, USA, June, 2014.
R. Bookstaber, J. Cetina, G. Feldberg, M. Flood, and P. Glasserman, "Stress Tests to Promote Financial Stability: Assessing Progress and Looking to the Future", Journal of Risk Management in Financial Institutions, 7(1), Winter 2014, 16-25.
M. Flood, "A Brief History of Financial Risk and Information", Handbook of Financial Data and Risk Information, Volume I: Context , M. Brose, M. Flood, D. Krishna, and W. Nichols, eds., Cambridge University Press, 2014, Ch. 1: 8-32.
M. Brose, M. Flood, D. Rowe, "Risk Management Data and Information for Improved Insight", Handbook of Financial Data and Risk Information, Volume I: Context , M. Brose, M. Flood, D. Krishna, and W. Nichols, eds., Cambridge University Press, 2014, Ch. 9: 328-380.
M. Flood, S. Kwan, I. Leonova, "Data for Microprudential Supervision of U.S. Banks", Handbook of Financial Data and Risk Information, Volume I: Context , M. Brose, M. Flood, D. Krishna, and W. Nichols, eds., Cambridge University Press, 2014, Ch. 11: 426-489.
M. Flood, A. Mendelowitz, and W. Nichols, "Monitoring Financial Stability in a Complex World", Financial Analysis and Risk Management: Data Governance, Analytics and Life Cycle Management , V. Lemieux, ed., Springer Verlag, 2013, Ch. 2: 15-46.
D. Bisias, M. Flood, A. Lo, and S. Valavanis, "A Survey of Systemic Risk Analytics", Annual Review of Financial Economics, 4, 2012, 255-296.
L. Raschid, H. V. Jagadish, M. Flood, F. Olken, and A. Kyle, "Using Data for Systemic Financial Risk Management", proceedings paper, Biennial Conference on Innovative Data Systems Research (CIDR), Asilomar, CA, USA, January 2011, 2011, 144-147.
M. Flood, K. Koedijk, M. van Dijk, and I. van Leeuwen, "Securities Trading, Asymmetric Information, and Market Transparency", Handbook of Trading: Strategies for Navigating and Profiting From Currency, Bond, Stock Markets, G. Gregoriou, ed., Chapter 22, McGraw-Hill (ISBN: 9780071743532), 2010, 319-342.
M. Flood, "Embracing Change: Financial Informatics and Risk Analytics", Quantitative Finance, 9(3), April 2009, 243-256.
M. Flood, R. Huisman, K. Koedijk, and R. Mahieu, "Quote Disclosure and Price Discovery in Multiple Dealer Financial Markets", Review of Financial Studies, 12(1), Spring 1999, 37-59.
  • Lead article
M. El-Makkoui, and M. Flood, "Put-call Parity Revisited: Intradaily Tests in the Foreign Currency Options Market", Journal of International Financial Markets, Institutions and Money, 8(3/4), November 1998, 357-376.
M. Flood, "Market Structure and Inefficiency in the Foreign Exchange Market", Journal of International Money and Finance, 13(2), April 1994, 131-158.
  • Lead article
M. Flood, "Two Faces of Financial Innovation", Review, Federal Reserve Bank of St. Louis, September/October 1992, 3-17.
M. Flood, "The Great Deposit Insurance Debate", Review, Federal Reserve Bank of St. Louis, July/August 1992, 51-77.
M. Flood, "Microstructure Theory and the Foreign Exchange Market", Review, Federal Reserve Bank of St. Louis, November/December 1991, 52-70.
M. Flood, "An Introduction to Complete Markets", Review, Federal Reserve Bank of St. Louis, March/April 1991, 32-57.
M. Flood, "On the Use of Option Pricing Models to Analyze Deposit Insurance", Review, Federal Reserve Bank of St. Louis, January/February 1990, 19-35.

Books

M. Brose, M. Flood, D. Krishna, and B. Nichols (eds.), The Handbook of Financial Data and Risk Information, Volume I: Context , Cambridge University Press (ISBN: 1107012015), February 2014.
M. Brose, M. Flood, D. Krishna, and B. Nichols (eds.), The Handbook of Financial Data and Risk Information, Volume II: Implementation , Cambridge University Press (ISBN: 1107012023), February 2014.
M. Flannery, and M. Flood, Flannery and Flood's ProBanker: A Financial Services Simulation, U.S. edition , Irwin/McGraw-Hill (ISBN: 025623051X), 1998.
C. Draimin, and M. Flood, Financial Markets and the Economy: The Canadian Experience , Prentice Hall Canada (ISBN: 0138900213), 1998.

Other Publications

M. Flood, and J. Haubrich, "Measurement Challenges in Macroprudential Policy Implementation: a Conference", Intorduction to a special issue of the Journal of Financial Stability, forthcoming.
L. Raschid, D. Burdick, M. Flood, J. Grant, J. Langsam, and I. Soboroff, "Financial Entity Identification and Information Integration (FEIII) 2017 Challenge: The Report of the Organizing Committee", project report, DSMM'17: Proceedings of the 3rd International Workshop on Data Science for Macro--Modeling with Financial and Economic Datasets (2017 ACM SIGMOD/PODS Conference), Chicago, IL, USA, July, 2017.
M. Flood, J. Grant, H. Luo, L. Raschid, I. Soboroff, and K. Yoo, "Financial Entity Identification and Information Integration (FEIII) Challenge: The Report of the Organizing Committee", project report, DSMM'16: Proceedings of the International Workshop on Data Science for Macro-Modeling (2016 ACM SIGMOD Conference), San Francisco, CA, USA, July, 2016.
M. Flood, "Foreword", Building Trust in Information: Perspectives on the Frontiers of Provenance , V. Lemieux, ed., Springer, 2016.
M. Flood, A. Kyle, and L. Raschid, "Knowledge Representation and Information Management for Financial Risk Management", Report of a workshop: July 21-22 2010 at Arlington, VA, November 2010.
M. Flood, "Why We Need the Office of Financial Research", Risk Premia Newsletter , PRMIA, October 2010, 8ff.
M. Flood and A. Mendelowitz, "A Critical Fix for Regulatory Failings", Pratt's Bank Asset/Liability Management , Sheshunoff, August 2010, 6-8.
M. Flood, "Discussion (of Yield and Inflation Differentials between Canada and the United States, by Ben Fung and Eli Remolona)", Information in Financial Asset Prices , K. Clinton and M. Zelmer, eds., Bank of Canada, 1998, 133-139.
M. Flood, "U.S. Historical Data on Bank Market Structure", Inter-university Consortium for Political and Social Research (ICPSR), Ann Arbor, 1998, http://www.flood-dalton.org/mark/research/bankdata-hist.html,
M. Flood, "Incomplete Markets", Business Cycles and Depressions: An Encyclopedia , D. Glasner, ed., Garland Publishing (ISBN: 0824009444), 1997, 321-323.
M. Flood, "Comment (on: Foreign Exchange Volume: Sound and Fury Signifying Nothing?, by Richard K. Lyons)", The Microstructure of Foreign Exchange Markets , J. Frankel, G. Galli and A. Giovannini, eds., University of Chicago Press and NBER (ISBN: 0226260003), 1996, 202-205.
M. Flood, "Deposit Insurance Problems and Solutions", Review, Federal Reserve Bank of St. Louis, January/February 1993, 28-34.
M. Flood, "How Close are Bond and Equity Mutual Funds to Money?", Monetary Trends, Federal Reserve Bank of St. Louis, June 1993, cover page.
M. Flood, "Tinkering with federal deposit insurance", Central Banker, Federal Reserve Bank of St. Louis, Summer 1992.
M. Flood, "The Effect of Counterfeiting on the Fed's Currency Statistics", Monetary Trends, Federal Reserve Bank of St. Louis, June 1992, cover page.
M. Flood, "Deposit Insurance and the Full Faith and Credit of the U. S. Government", Monetary Trends, Federal Reserve Bank of St. Louis, Mar. 1992, cover page.
M. Flood, "Real Value of FDIC Coverage", Monetary Trends, Federal Reserve Bank of St. Louis, Nov. 1991, cover page.
M. Flood, "M2 Growth and the Activity of the RTC", Monetary Trends, Federal Reserve Bank of St. Louis, Oct. 1991, cover page.
M. Flood, "The Health of the Commercial Banking Industry", Monetary Trends, Federal Reserve Bank of St. Louis, Apr. 1991, cover page.

Professional Recognition and Certifications

OFR Creativity and Innovation Award, Office of Financial Research, April 2016
Keynote Address: "System-wide Commonalities in Market Liquidity", Cambridge Centre for Risk Studies Seminar: Market Risk: Understanding and Managing Tail Events , December 2015,
Cambridge University, England
Joint Keynote Address, with Oliver Goodenough: "Contract as Automaton: The Computational Representation of Financial Agreements", Second Joint Workshop by the Bank of England, European Central Bank, and the Office of Financial Research, "Setting Global Standards for Granular Data" , October 2015,
Office of Financial Research, New York, NY
Keynote Address: "The Computational Representation of Financial Agreements", FinTech: Law and Disruption , October 2015,
New York Law School, New York, NY
Keynote Address: "On Counterparty Networks", Cambridge Centre for Risk Studies Seminar: Financial Risk and Network Theory , September 2015,
Cambridge University, England
Finance Keynote Address: "Measuring Counterparty Networks", International Mathematical Finance Conference , March 2014,
Miami, FL
Retail Off-Exchange Foreign Exchange Certification, National Futures Association (NFA) , October 2010
(Series 34 Exam)
Licensed Commodity Trading Advisor (CTA), National Futures Association (NFA) , November 2007
(Series 3 Exam)
Sun Certified Programmer for Java 2 Platform 1.4, Sun Microsystems , September 2007
(Test: CX-310-035)
Financial Risk Manager (FRM), Global Association of Risk Professionals (GARP), November 2006
(Top quartile, all sections)
Member, Cosmos Club of Washington DC , June 2006
(Nominated and elected)
Best Review Article, Federal Reserve Bank of St. Louis, 1992
Best Review Article, Federal Reserve Bank of St. Louis, 1991

Past Employment

Senior Financial Economist
Federal Housing Finance Board and Federal Housing Finance Agency (FHFA) (Washington, DC)
Dec. 2003 - Feb. 2011 (part time, July 2007 to Mar. 2009)
Senior Financial Economist
Office of Thrift Supervision (OTS) (Washington, DC)
July 1999 - Dec. 2003
Visiting Assistant Professor of Finance
University of North Carolina at Charlotte (UNCC) (Charlotte, NC)
Jan. 1998 - June 1999
Assistant Professor of Finance
Concordia University (Montreal, Quebec)
June 1993 - June 1997
Economist
Federal Reserve Bank of St. Louis (St. Louis, MO)
Sep. 1989 - July 1993
Financial Administration Trainee
Commerzbank, AG (New York, NY)
Aug. 1984 - July 1985

Part-time and Limited-term Affiliations

Founding Member and Co-Chair of the Data Subcommittee
Committee to Establish the National Institute of Finance (Washington, DC)
Feb. 2009 - Feb. 2011 (part time)
Visiting Assistant Professor
R. H. Smith College of Business, University of Maryland (College Park, MD)
Feb. 2010 - Jan. 2011 (part time)
Partner
RiskTec Currency Management, BV (Rotterdam, The Netherlands)
June 2007 - Feb. 2011 (part time)
Visiting Researcher
Erasmus University (Rotterdam)
June - July 2004
Part-time Consultant
Federal Deposit Insurance Corporation (Washington, DC)
Sep. 1996 - Sep. 1997
Visiting Researcher
University of Limburg, Limburg Institute of Financial Economics (LIFE) (Maastricht)
June 1996
Consultant
Federal Reserve Bank of New York (New York, NY)
June 1996
Consultant
Federal Reserve Bank of St. Louis (St. Louis, MO)
Feb. 1996
Consultant
UNC Courseware Development Project and Harvard Institute for International Development (HIID) (Chapel Hill, NC)
Sep. 1986 - July 1989
Instructor and Research Assistant
University of North Carolina (Chapel Hill, NC)
Aug. 1985 - May 1989

Competitive Grants

Workshop on Knowledge Representation and Information Management for Financial Risk Management, National Science Foundation (Arlington, VA), CISE III Program Grant IIS-1033927 , 2010
Research Fellow, Federal Deposit Insurance Corp., Center for Financial Research (Washington DC), Annual Research Funding Program, 2008
Global Finance World, University of North Carolina (Charlotte), Summer Web Workshop, 1998
The design of communication structures in securities markets, Social Sciences and Humanities Research Council of Canada (SSHRC), 1994-97
Faculty Research Development Grant, Concordia University, 1993-96
Faculty Teaching Development Grant, Concordia University, 1995
Graduate School Fellowship, University of North Carolina (Chapel Hill), 1985-86

Other Professional Activities

Scholarly Societies

Journals

  • Guest Editor, IEEE Systems Journal, Special Issue on "Complex Systems in Finance and Economics", 2016

Research Conferences

  • Stanford University Law School: Legal Specification Protocol Development - Initial Working Session: Computable Contracts Focus, Palo Alto, CA, planning committee, 2017.
  • Office of Financial Research / Federal Reserve Bank of Cleveland / U. of Maryland 2017 Financial Stability Conference: Financial Stability and FinTech, Washington, DC, planning committee, 2017.
  • Office of Financial Research / University of Michigan Conference on FinTech Risks and Opportunities: An Interdisciplinary Approach. Ann Arbor MI, planning committee, 2017
  • RiskLab / Bank of Finland / ESRB Conference on Systemic Risk Analytics, Helsinki Finland, program committee, 2017
  • Office of Financial Research / Federal Reserve Bank of Cleveland 2016 Financial Stability Conference: Innovation, Market Structure, and Financial Stability, Washington, DC, planning committee, 2016.
  • Office of Financial Research / University of Michigan Conference on Big Data: Improving the Scope, Quality, and Accessibility of Financial Data. Ann Arbor MI, planning committee, 2016
  • RiskLab / Bank of Finland / ESRB Conference on Systemic Risk Analytics, Helsinki Finland, program committee, 2016
  • Regulatory Data Workshop, Washington DC, program committee, 2016
  • Office of Financial Research / Federal Reserve Bank of Cleveland 2015 Financial Stability Conference: Policy Analysis and Data Needs, Washington, DC, planning committee, 2015.
  • Office of Financial Research / University of Michigan Conference on Interdisciplinary Approaches to Financial Stability. Ann Arbor MI, planning committee, 2015
  • RiskLab / Bank of Finland / ESRB Conference on Systemic Risk Analytics, Helsinki Finland, program committee, 2015
  • Office of Financial Research / Federal Reserve Bank of Cleveland 2014 Financial Stability Conference: Measurement Challenges in Macroprudential Policy Implementation, Washington, DC, planning committee, 2014.
  • Regulatory Data Workshop, Washington DC, program committee, 2014
  • Consortium for Systemic Risk Analytics (CSRA), Office of Financial Research, and MIT Financial Engineering Laboratory: Conference on Systemic Risk, Cambridge MA, organizing committee, 2014
  • ACM SIGMOD Workshop: Data Science for Macro-Modeling, Snowbird UT, program committee, 2014
  • University at Albany Conference: Information Sharing and Coordination Challenges in Financial Market Regulation, Washington DC, program committee, 2013
  • Office of Financial Research / Federal Reserve Bank of Cleveland Conference: Financial Stability Analysis: Using the Tools, Finding the Data, Washington DC, planning committee, 2013
  • Regulatory Data Workshop, Arlington VA, program committee, 2013
  • Office of Financial Research Conference: The Macroprudential Toolkit, Washington DC, planning committee, 2011
  • Regulatory Data Workshop, Arlington VA, program committee, 2011
  • National Science Foundation Workshop on Knowledge Representation and Information Management for Financial Risk Management, Arlington VA, Co-Principal Investigator, 2010
  • Fifth European Banking Symposium, Maastricht Netherlands, program committee, 2008
  • Money, Values and Impact, Conference on Ethical Investing, Washington DC, planning committee, 2009
  • Fourth European Banking Symposium, Milan Italy, program committee, 2008
  • Third European Banking Symposium, Maastricht Netherlands, program committee, 2007
  • Second European Banking Symposium, Milan Italy, program committee, 2006
  • First European Banking Symposium, Maastricht Netherlands, program committee, 2005
  • Financial Management Association International, program committee, 2000
  • Eastern Finance Association, 35th annual meeting, Miami FL, program committee, 1999
  • Financial Management Association, Chicago IL, program committee, 1998

Refereeing

  • American Economic Review
  • Canadian Journal of Economics
  • Concordia University Faculty Research Development Program
  • Contemporary Economic Policy
  • Contemporary Policy Issues
  • European Journal of Operations Research
  • Global Policy
  • Journal of Alternative Investments
  • Journal of Banking and Finance
  • Journal of Data and Information Quality
  • Journal of Empirical Finance
  • Journal of Financial Research
  • Journal of Financial Services Research
  • Journal of Financial Stability
  • Journal of International Economics
  • Journal of International Money and Finance
  • Journal of Mathematical Finance
  • Journal of Money, Credit, and Banking
  • Quantitative Finance
  • Review of Financial Studies
  • Social Sciences and Humanities Research Council of Canada