Presenter: Edward V Byrns Jr., PhD, Managing Director of Client Calibrated Solutions, Munich Re
Description: Weather can be unpredictable, potentially costing energy buyers and sellers plenty. Variations in temperature, snow, wind or sun can make planning and budgeting difficult at best. It’s possible to protect budgets by hedging weather risks.
Big data is changing how we look at weather and the risks it poses to everyone throughout the supply chain, from producers of energy to marketers, even down to the owner of a single residential building.
Ed Byrns has specialized in weather hedging for many years. His talk focuses on how the new world of big data is creating innovative weather risk products to manage business exposure.
This presentation is a journey from the past to the present and on to the future. Throughout this journey, we will learn what weather risk management is, where market capabilities are today and how future solutions could target micro-level risks.
About the Presenter: Dr. Byrns has been working in commodity trading for over 20 years. He recently accepted a new position as the Managing Director of Client Calibrated Solutions at Munich Re Trading LLC. In this role, he is leading the development of a new business venture, which uses innovative technologies to capture non-traditional weather and commodity risks often overlooked by the existing marketplace.
Dr. Byrns assumed the new CCS role having served for seven years as the Chief Technology and Innovation Officer at Munich Re Trading LLC. In this role, he was responsible for the design, development and operation of a strategic platform focused on derivative analytics and risk management.
Prior to joining Munich Re, he held senior quantitative management positions in the hedge fund and merchant energy sectors. Before entering the trading field, Dr. Byrns worked as an analyst and consultant in Washington DC, and also served as an adjunct professor at two local universities.
Dr. Byrns received his PhD in Engineering from Georgia Institute of Technology. Additionally, he received his MS in Economics and MS in Engineering, both from Georgia Tech. He received his BSE from Princeton University.