A while back I recorded a short video on the topic of risk management organizational structure in a non-financial company. In the video I discussed various options for risk manager’s place in the overall organizational structure. Since there is really no single right answer, the few common options include: reporting directly to the CEO, reporting… Continue reading 5 reasons why internal audit may be the best place for the risk manager to sit
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Why risk management in SME is better than in large corporations
Couple of weeks ago I was very fortunate to host one of the roundtables during the FERMA risk seminar in Malta. I am very thankful for the opportunity because the experience of brainstorming for 45 mins with the representatives from various small and medium enterprises (SMEs) really highlighted some major problems with modern day risk… Continue reading Why risk management in SME is better than in large corporations
Building risk culture is easier than making hot dogs
Yes, building risk culture is that easy! Before I explain, let me first clear few weird misconceptions about risk culture that have been floating around in the non-financial companies: Making decisions under uncertainty is not natural for humans Back in 1970s scientists had a breakthrough in understanding how human brain works, what influences our decisions,… Continue reading Building risk culture is easier than making hot dogs
18 best risk management books (updated in 2023)
Welcome, risk professionals, to a carefully curated collection of must-read books that will elevate your risk management and decision-making skills to new heights. This article brings together the most influential and insightful texts in the field, providing you with a roadmap for expanding your knowledge, enhancing your professional expertise, and advancing your career. Divided into… Continue reading 18 best risk management books (updated in 2023)
Can risk management even be effective?
Lately, everyone, from the government agencies to regulators to corporate board members, seem to be talking about the need for better, more effective risk management. The challenging part is that, despite the guidance provided in ISO 31000:2009, the concept of risk management effectiveness still remains vague. This article attempts to summarize the basic components of… Continue reading Can risk management even be effective?
Risk management used to be a science, then it became an art, now it’s just bullsh@t
Latest views from Alex Sidorenko on how “innovation”, lack of business acumen and consultants are killing modern risk management in non-financial organizations. First there was science… Some sources suggest probability theory started in gambling and maritime insurance. In both cases the science was primarily used to help people and companies make better decision and hence… Continue reading Risk management used to be a science, then it became an art, now it’s just bullsh@t
