Imagine you are building a world class risk management team for a non-financial company, who would you hire? In my risk management team I need a researcher, a decision analyst, a quant and a culture ambassador. The researcher I need someone to spend time scouring through reports, news articles, and regulatory updates to identify emerging… Continue reading How AI is hijacking risk management jobs
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Risk managers, AI will replace you, if you don’t…
A study published in the Annals of Oncology found that a deep learning algorithm achieved a 95% accuracy rate in detecting melanoma from skin lesion images, outperforming a panel of 58 dermatologists whose average accuracy was 86.6%. In another study published in Nature, a deep learning system was able to identify breast cancer from mammograms… Continue reading Risk managers, AI will replace you, if you don’t…
Quant models overthrow traditional risk management: embrace or perish?
In my last job as a Head of operational risk and insurance, I needed a team of 3 quants to build risk models to support decisions, quantify expected losses and calculate expected shortfalls. In my current job, as Head of risk, insurance and internal audit, I can do all this with with 2 AI models,… Continue reading Quant models overthrow traditional risk management: embrace or perish?
Tucker Carlson failed risk management 101
I recently tried watching Lex Fridman podcast with Tucker Carlson on Putin, Navalny, Trump, CIA, NSA, War, Politics & Freedom. I am not sure whether Tucker is IYI, corrupt or being contrarian for the sake of being contrarian at the cost of losing connect to reality but he certainly failed risk management 101. Normally, I… Continue reading Tucker Carlson failed risk management 101
Risk Parenting 101: 7 key principles to teach your kids about risk
In my world, predictability and certainty are myths. Challenging assumptions, no matter how fundamental, is my life motto. But how do I explain this to other people and, most importantly, my children? In this article, I attempt to share my own principles for making better decisions amid life’s chaos. These ideas are not just about… Continue reading Risk Parenting 101: 7 key principles to teach your kids about risk
10 MORE movies risk managers should watch to understand risk based decision making, based on the social comments
When you think of movies, the genres of action, romance, or perhaps drama might come to mind. But what if I told you that some of the most compelling tales of risk management, decision science, and behavioural economics come packaged in the very films we cherish? This isn’t just about Wall Street dramas or high-stakes… Continue reading 10 MORE movies risk managers should watch to understand risk based decision making, based on the social comments
10 movies risk managers should watch to understand risk based decision making
When you think of movies, the genres of action, romance, or perhaps drama might come to mind. But what if I told you that some of the most compelling tales of risk management, decision science, and behavioural economics come packaged in the very films we cherish? This isn’t just about Wall Street dramas or high-stakes… Continue reading 10 movies risk managers should watch to understand risk based decision making
Download your free risk culture action plan
Facing challenges integrating risk management into your day-to-day operations? Look no further. Our action plan offers a meticulous roadmap designed to nurture and instil a risk-aware culture across every facet of your organization. Why is this essential for you? 🔍 Adopting a risk-aware mindset is no longer just a necessity—it’s a competitive advantage. What’s inside?… Continue reading Download your free risk culture action plan
Talking about risk is p95 and listening is p100, mismatch between risk team and executives
Communication is the lifeblood of decision making, the bridge that connects us to one another and to our shared goals. Corporate decision making is a complex dance of encoding and decoding, speaking and listening, sending and receiving, arguments and counterarguments. But what happens when the dance is out of sync? When the speaker communicates risks… Continue reading Talking about risk is p95 and listening is p100, mismatch between risk team and executives
Why are risk managers so bad at root cause analysis?
It’s puzzling, isn’t it? Risk management, a field that has been formalized and standardized in non-financial companies since the 1990s and accepted widely by 2009 with the publication of ISO31000, somehow doesn’t seem to make the seismic shifts we anticipated. As I leaf through articles in Forbes, I find more “risk management has failed again”… Continue reading Why are risk managers so bad at root cause analysis?
