Jontorisk : An Ontology-Based Platform for Knowledge-Based Simulation Modeling in Financial Risk Management

Modeling and simulation has become a well-established approach to efficiently back financial risk management applications. One major challenge though, remains the task of bringing together the domain-specific knowshy;ledge with the technical skills required for the implementation. This possibly results in a semantic gap between a domain's conceptualization and its technical representation inside the simulation. In this paper we argue towards improving simulation engineering in risk management through the utilization of domain knowledge. In order to enhance the process of modeling simulations, we integrate common characteristics of the problem domain into the ontology-based simulation platform JOntoRisk. The transfer to the technical representation is hereby automated and the semantic gap closed. The proof of concept is conceded by simulating a basic technology risk environment using our platform