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  3. How-To Guide: Build a Scenario Analysis Library with ChatGPT
1
of 5— Set up your scenario context

What you'll accomplish

By the end of this guide, you'll have a comprehensive scenario library for your risk models — 20–40 stress scenarios covering your key risk domains, ready to use in your next stress testing cycle, risk committee discussion, or contingency planning session. A scenario library that would normally take days to compile will be ready in under an hour.

What you'll need

  • ChatGPT Plus subscription ({{tool:ChatGPT.price}}/month at {{tool:ChatGPT.url}}) — recommended for longer conversations; free tier works for single-domain libraries
  • A clear list of the risk domains you need to cover (credit risk, operational risk, market risk, cyber risk, etc.)
  • Time needed: 45–60 minutes for initial library; 5–10 minutes to add new scenarios later
  • Cost: Free tier works; {{tool:ChatGPT.price}}/month for ChatGPT Plus for longer context

How-To Guide: Build a Scenario Analysis Library with ChatGPT

Step 1: Set up your scenario context

  1. Go to {{tool:ChatGPT.url}} and start a new chat
  2. Begin by giving ChatGPT your organization context — this is what makes scenarios relevant and realistic:
Copy and paste this
I'm a risk analyst at a [regional bank / mid-size insurance company / corporate treasury function]. Key characteristics: [size, geography, business lines, key exposures]. I need to build a scenario library for [stress testing / risk committee / business continuity planning].

Press Enter to set the context, then proceed to the scenario generation.

Tools:ChatGPT