Kabir Dutta

Kabir Dutta, PhD

Assistant Professor of Practice
Academic AreaFinance
Academic AreaOperations Management & Business Analytics
Academic AreaEconomics
Areas of InterestFinancial Risk Management, Information Economics, Banking, and Machine Learning

Kabir Dutta joined Johns Hopkins University Carey Business School in 2016. Before Joining Carey, he was Principal at the Charles River Associates, Boston where he led financial risk management engagements of the CRA, Senior Economist at the Federal Reserve Bank of Boston, Senior Strategist at the Cross Currency hedge fund of the Deutsche Bank, New York, among others. He has more than 20 years of experience in financial risk management in the areas of credit, market, interest rate, and operational risk and has experience across various industries such as telecommunication, energy, exploration and production, and financial services. He regularly advices executives of many financial institutions on the financial risk management related to regulatory issues.


  • Ph. D, Financial Engineering, The Wharton School - University of Pennsylvania
  • MBA, The Wharton School - University of Pennsylvania
  • MS, Computer Science, Courant Institute of Mathematical Sciences - New York University
  • MS, Statistics - Indian Statistical Institute


Selected publications
  • Scenario Analysis in the Measurement of Operational Risk: A Change of Measure Approach.” (with David F. Babbel) Wharton Financial Institutions Center Working paper, March 2010, Journal of Risk and Insurance, 81(2), 2014, 303-334
  • Use and application of the g-and-h distribution in the Financial Risk Management.” Proceedings of the 58th International Statistical Institute World Statistics Congress, Dublin, Ireland, August 2011
  • Extracting Probabilistic Information from the Price of Interest Rate Options: Tests of Distributional Assumptions.” (with David F. Babbel) Journal of Business, 78(3), 2005, 841-870. Also, Wharton Financial Institutions Center Working Paper, June 2002
  • Decision Analysis Approaches for the Financial Risk Management.” Proceedings of the INFORMS Conference on OR Practices, Cambridge, MA, April 2004
  • A Note on the Solution to a Three-Factor Affine Term Structure Model.” (with Craig Merrill) Journal of Fixed Income, December 1999
Working papers
  • A Tale of Tails: An Empirical Comparison of Loss Distribution Models for Estimating Operational Risk Capital.” (with Jason Perry) Federal Reserve Bank of Boston Working Paper, July 2006, Highly quoted and top ten downloads in 2010 and 2011 at the SSRN website. Revised, submitted and Under review (final level)  ( 477 Citations)
  • On Measuring Skewness and Kurtosis in Short Rate Distributions: The Case of the US Dollar London Inter Bank Offer Rates” (with David F. Babbel) Wharton Financial Institutions Center Working Paper, June 2002. Revised, submitted, and under review (final level) (108 Citations)
  • Effects of Macro Economic Factors in the Estimation of Operation Risk based on Internal Loss Experiences (2016) ( Under Revision)
  • Idiosyncratic Financial Risk: Case of PD, LGD and EAD Interactions in Credit Risk (2019) (Under Revision)


  • Financial Valuation
  • Advanced Corporate Finance
  • Corporate Finance
  • Financial Modeling and Valuation

Honors and distinctions

  • Finalist for Franz Edelman Award, Institution for Operations Research and the Management Sciences (INFORMS) (1995)
  • Received National Science Foundation (NSF) grant (with John Mulvey, Princeton University) on a research proposal in Enterprise Risk Management (2003)
  • Evaluated research grant proposal on financial risk management for National Science Foundation (NSF) (2007, 2008)
  • Fellow of the Wharton Financial Institutions Center of the University of Pennsylvania, 2013-2016