Carol Alexander is an internationally recognized authority on crypto asset and derivatives markets, financial risk analysis, model validation and design, and digital asset innovation, with over three decades of dual academic and industry leadership, advising the finance sector and regulatory bodies worldwide. Carol’s expertise includes the design and implementation of mathematical models for pricing, trading, hedging, and risk assessment, both for traditional and digital markets. Her recent research and consultancy have focused on risk, efficiency, and pricing in crypto, DeFi, and NFT markets, as well as margin model architecture and digital asset benchmarking.
A thought leader on the risks and opportunities of AI and digital assets, Carol is frequently featured in international media, appearing on television, radio, and top business podcasts to discuss market structure, crypto regulation, systemic risk, and the future of finance. Carol sits on several advisory boards for leading exchanges and fintech companies and has acted as expert witness in some high-profile cases of financial market manipulation and misconduct. She has worked with clients such as Credit Agricole Asset Management, New York Stock Exchange, Intercontinental Exchange, FTX US, and multiple law firms.
A pioneer in market risk analysis, Carol is the author of the four-volume Market Risk Analysis series, which remains a global standard for quantitative finance practitioners, and of the influential Market Models. She also co-edited a recent volume on Corruption and Fraud in Financial Markets. Two decades ago, she conceived and edited the PRMIA Handbooks, designed and implemented the PRM industry qualifications, as well as serving pro-bono as Chair of the PRMIA board. She served as Editor of the Journal of Banking and Finance for a decade until 2023 and has played a key role on influential advisory boards, such as the Leverhulme Economics Prize committee, the Bachelier Prize Committee and the Steering Committee for the Centre for Financial Industries at the Fields Institute.
She previously held senior industry roles as Director and Head of Market Risk Modelling at Nikko Securities, Director at Algorithmics Inc. (the pioneering global risk software firm), and Bond Analyst at Phillips & Drew, City of London. Carol holds a BSc in Mathematics with Experimental Psychology and a PhD in Algebraic Number Theory from the University of Sussex, and an MSc in Mathematical Economics and Econometrics from the London School of Economics.