A Distributed Simulation Environment for Simulation Modeling in Operational Risk Management

Modeling and simulation has become a well-established approach to efficiently back financial risk management applications. One major challenge though is the task of bringing together the domain-specific knowledge with the technical skills required for implementation. JOntoRisk bridges this gap in the area of operational technology risk. It is an ontology-based platform which allows modeling the problem space from a domain-oriented perspective and automatically deriving a simulation model. However, one problem is the long time required for the actual simulation. We address this problem by presenting a distributed simulation extension. The underlying pattern and prototypical implementation with CORBA is described. Finally, we critically review the gains won by this extension.