5 New Year recommendations from RISK-ACADEMY

It’s been a tough year in Europe. So many lives unnecessarily lost and cities destroyed because one leader lost the plot and had no governance structures in place to stop him from doing the unthinkable. A huge lesson for all of us in the 2nd line of defence – don’t put your executives on a pedestal, no matter how charismatic they are. People with power and no controls, lose the plot sooner or later. Risk taking within appetite is to be rewarded, risk taking beyond any capacity is just lunacy. As many will continue to discover how excessive risk taking feels when markets and crypto continue to crush. Anyway, enough gloom, let’s share some good things together:

1. Support children and families displaced by the crisis in Ukraine

https://www.wvi.org/emergencies/ukraine/donate-now

Help children and families displaced by the crisis in Ukraine through World Vision International. Scan the QR code on the left or visit  https://www.wvi.org/emergencies/ukraine/donate-now, view the due diligence on the charity https://www.charitynavigator.org/ein/951922279 to donate with confidence.

 

Alex has created a short bootcamp designed to help companies implement quantitative risk management. Imagine saving the company so much money that investing in risk management competencies and resources becomes a no brainer for the executives. That's exactly what Alex Sidorenko did at a global $10B chemical company and he has been kind enough to share his top tips and lessons learned with you each week. Sign up now!

2. Support Probability Management non for profit in their quest to make risk quantification accessible

ProbabilityManagement.org introduced the concept of Chancification. Just as electrification delivers electricity generated by engineers to the general public for lighting houses and powering factories, Chancification delivers stochastic information generated by analysts to managers for estimating the chances of meeting their goals.

Beginning in early 2021, development continued on ChanceCalc, the revolutionary Excel add-in that accesses uncertainties stored as SIP Libraries in the cloud. ChanceCalc allows users to calculate the chance of achieving specific goals in native Excel with a single command.

Donate to support the non for profit. 

3. Enjoy free resources from RISK-ACADEMY and partners

RISK-ACADEMY has a huge collection of free risk management resources, use them, don’t reinvent the wheel every time you attempt to do quantitative risk analysis.

Here are some of the highlights:

 

4. Enjoy #RAW2022 replays

Use the experience gained at RAW2022 to advance your career, upskill your risk management team or find a better job. More than 4500+ people from 120 countries already signed up and are learning from the best risk and decision professionals.

It is a great set of workshops designed to help transform and upgrade your risk team and help your decision makers. Speakers are covering 3 important areas:

  • how human brain affects our ability to see risks, mitigate them and make decisions under uncertainty
  • how we can quantify uncertainty and save millions along the way (my favourite topic, I was named risk manager of the year in Europe for saving my company $13M through better quant insurance buying)
  • how to make decisions balancing risk and reward and how to communicate the output of risk analysis to decision makers.

https://2022.riskawarenessweek.com/

5. Give your love to Archer Insight

One of the biggest risk management software vendors on the planet is making a big push towards risk quantification and they should get some love. It is not often we see companies moving away from RM1 to RM2 and every such case needs to be celebrated and appreciated. Thanks to Archer hundreds of their customers will have access to leading edge risk quantification engines and be able to run scenarios and simulations to support important business decisions.

Join this free quant risk bootcamp that I am doing together with them https://www.archerirm.com/insight-risk-academy

RISK-ACADEMY offers online courses

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Informed Risk Taking

Learn 15 practical steps on integrating risk management into decision making, business processes, organizational culture and other activities!

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Alex Sidorenko, known for his risk management blog http://www.riskacademy.blog, has created a 25-step program to integrate risk management into decision making, core business processes and the overall culture of the organization.

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Advanced Risk Governance

This course gives guidance, motivation, critical information, and practical case studies to move beyond traditional risk governance, helping ensure risk management is not a stand-alone process but a change driver for business.

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