Monte Carlo Plus (mc+) was designed and developed by Dr. Mustafa Çavuş based on the operational risk modelling experience in banking, insurance and asset management over the last 20 years. He has a strong background in banking and finance and worked in London, Frankfurt and Singapore.

Mustafa has an excellent working knowledge of turning regulatory requirements into a competitive advantage in risk management:


  • experience in the supervisory review process and dealing with the regulatory bodies in all aspects of internal model development;
  • deep expertise in Operational and Enterprise-wide Risk analysis including measurement, reporting and control; and
  • a PhD in financial mathematics from the University of Manchester.


Together with co-author Andrew Brand, Mustafa has recently written a chapter on operational risk in a book titled "Operational Risk 2.0 - Driving Value in a Post-Basel II Era".

Mustafa is supported by a number of highly experienced finance professionals:

Peter Bonisch (Director)

Peter is an authority of risk in all its guises. He has worked in and advised on operational risk from the trading floor to the back office to the shop floor, from the boardroom to the wardroom; he has advised across all financial services sectors, in a wide range of private sectors, governmentally from departmental CEOs to prime ministers to generals.

He has advised on responses to systemic risk following the financial crisis and has advised regulators and the regulated on improving the validity and utility of economic and financial regulation of risk, as well as practical issues in responding to regulation, on risk-related data, analysis and decision-making and behaviour around risk.

Peter has published widely. He is the founding director of London-based think-tank Futuresphere and is a member of the UK Chief of Defence Staff's Strategy Forum.

Jonathon Bourke (Senior Business Development Manager)

Jonathon brings many years of training and consulting experience. He has worked with national and multinational organisations. He organised large scale training programs around the world.

Hakan Takmaz (Senior Manager)

Hakan, a successful entrepreneur operating in multiple geographies, has recently joined our team to help us grow our business in the Middle East region as well as in Germany where he is based. He has over 20 years of experience in financial services, in particularly the asset-servicing industry.

Hakan specialises in operational management, operating model architecture, change management and enterprise system implementation. He has a wide set of experience and a proven track record of managing client expectations combined with a deep level of operational know-how.

Since the start of his career in financial services with Deutsche Bank in Germany, Hakan has held various senior level client relationship management roles including Head of Transfer Agency at BNY Mellon Luxembourg, Head of Custody & Control & Administration at West LB Germany and Manager of Transfer Agency Operations at State Street Bank Germany.

Paul Waterhouse (Senior Associate)

Paul’s experience in insurance and credit risk spans more than three decades. He has successfully assisted numerous risk-sensitive institutions across the globe in analysing risk, developing and implementing best-practice, regulatory-compliant risk methodologies and processes. Paul was previously the Global Head of Analytics and Innovation at Standard & Poor’s Risk Solutions. Prior to this Paul held senior positions within the Financial Services Ratings practice of Standard & Poor’s, GE Frankona Re, ELMAC, Colonial Life and Paul Waterhouse Actuarial Consulting. He is a Fellow of the Institute and Faculty of Actuaries (IFoA) and holds a BSc in Mathematics from Manchester University.

Shahid Latif (CTO)

Shahid is a results-driven IT development executive with proven track record in building Artificial Intelligence (AI) tools, real-time streaming, multi-source, space-and-time-stamped ID data capture, integration, and visualization systems using Java Spring Framework.


e: info [at] montecarloplus [dot] com

t: +44 (0) 20 7060 7475
m: +44 (0)7432 633984


Economic Capital Solutions Ltd

Registration No: 9131856


Registered office:

2 Gallery Court 1-7

Pilgrimage Street

London SE1 4LL


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