Every few months a group of the best risk managers in Russia play the lottery. Not for the thrills you might expect, but for the calculated and low-risk profits. I have written a series of articles about this, showing some of the logic and the math. Well, another big game was yesterday. We did the… Continue reading Sometimes avoiding risk is the best bet (pun intended)
Category: Risk management
CRO DIARY: We are so busy chasing the next “sexiest” risk, we miss the forest for the trees
Recently, I sat down to do my weekly Wednesday live stream. Normally I share stories, answer questions and discuss lessons I learned as a Chief Risk Officer, but this time I wanted to talk about something else. Something that has been troubling me for a while. The fundamental flaws in decision making and risk management.… Continue reading CRO DIARY: We are so busy chasing the next “sexiest” risk, we miss the forest for the trees
I wonder if anyone realises that implementing ERM is actually bad risk management
According to COSO ERM, “enterprise risk management” refers to the culture, capabilities, and practices, integrated with strategy-setting and performance, that organizations rely on to manage risk in creating, preserving, and realizing value. Sounds not too bad. In this article I will argue that doing this, or rather doing as COSO and most consultants and most… Continue reading I wonder if anyone realises that implementing ERM is actually bad risk management
Real life application of quantitative risk analysis, an excellent case study
Can 17 risk managers double their money in just 2 days with no luck and using only quantitative risk analysis? Find out in this short case study. The problem To test how well quantitative risk analysis performs I wanted a real life situations, where odds were known and the stakes were high. National lottery looked… Continue reading Real life application of quantitative risk analysis, an excellent case study
Possibly the best risk assessment template
While working on the project in the Middle East recently the RISK-ACADEMY team came up with what looks like the best risk identification template I’ve seen in a long time. This is what a good risk register should look like, if there was ever a need for one. By the way, there isn’t a need… Continue reading Possibly the best risk assessment template
30 practical steps to implement risk management 2. Follow these steps to integrate risk management into decision making, processes and culture
Over the last 15 years I have implemented risk management in hundreds of organisations across Europe, Australia and Middle East. Here is a step by step guide how I actually did it. May not work every time and some decision makers will ignore risks no matter what we do, but it did win the Best… Continue reading 30 practical steps to implement risk management 2. Follow these steps to integrate risk management into decision making, processes and culture
GRC & Me, Episode 6: Alexei Sidorenko – The most controversial risk thought leader?
Today, we are excited to have Alexei Sidorenko calling in from Spain to discuss industry-specific risk methodologies. Alexei has over 14 years of experience in private equity, sovereign funds, and investment authority—to name just a few of his domains. He shares everything from the exciting start of his career to his recent experience heading up… Continue reading GRC & Me, Episode 6: Alexei Sidorenko – The most controversial risk thought leader?
RISK AWARENESS WEEK – introducing our new logo
Say hello to RAW2019! Our risk-based decision making octopus :)) Why octopus? Well, couple of reasons: Just like an octopus using his tentacles, risk managers should integrate their practices into all significant decisions, business process and the overall culture of the organisation And once risk management is integrated, it should become almost invisible, integrate with… Continue reading RISK AWARENESS WEEK – introducing our new logo
Absolute triumph for the quantitative risk analysis – part 3/3
Read this till the end. This is one of the best stories of risk management application in real life by some of the best risk managers I have ever met. I started writing yet another article trying to convince risk managers to grow their quant competencies, to integrate risk analysis into decision-making processes and to… Continue reading Absolute triumph for the quantitative risk analysis – part 3/3
Skin in the game: can risk managers use their witchcraft to make money – part 2/3
I started writing yet another article trying to convince risk managers to grow their quant competencies, to integrate risk analysis into decision-making processes and to use ranges instead of single point planning… but then I thought… why bother… why not show how risk analysis helps make better risk based decisions instead? After all, this is… Continue reading Skin in the game: can risk managers use their witchcraft to make money – part 2/3
