Climate change is a huge issue, environmental pollution is a huge issue, social inequality and everything else typically bundled under the ESG umbrella are important issues totally deserving the management attention. This article is about something else entirely, so keep your system 1 thinking in check and carry on reading. This article is about the… Continue reading ESG is the worst thing to happen to risk management… after GRC
Category: Risk management
5 red flags 🚩when selecting an insurance broker
Couple of years ago I was given the responsibility for corporate, non-life insurance across a $10B group of companies. I welcomed the opportunity to combine risk-based quantitative decision making with insurance. Did it work? You be the judge, a year later the company improved the quality of coverage while reducing the cost of insurance by… Continue reading 5 red flags 🚩when selecting an insurance broker
Reputational risk is not a risk
Despite the clickbait title, the messages are in the article are important to the risk profession and are purely practical. First few caveats, corporate reputation is important, even a perception of wrongdoings can affect funding, sales and cost of doing business. Importance of reputations for both profits and non-profits is not up for a debate.… Continue reading Reputational risk is not a risk
Risk management 2 is both a control and decision making tool
In 2018 I attempted to coin the distinction between “Risk Management 1” – cosmetic, governance-driven risk management, and “Risk Management 2” – value-adding risk management that drives better decision-making https://riskacademy.blog/rm1-vs-rm2-which-side-will-you-choose/ I have been following walking the talk, in both my consulting practice, personal life and in the corporate employment, ever since. In 2021 the company… Continue reading Risk management 2 is both a control and decision making tool
5 red flags 🚩 when doing a risk assessment
Risk assessments are probably the most common activities within the risk management profession and there is a very fine line between being a total waste of time and a useful risk management approach. So what are the most common pitfalls, how to avoid them and how to turn risk assessments into a useful decision making… Continue reading 5 red flags 🚩 when doing a risk assessment
3 disruptive risk management trends that will shape 2023 and will totally surprise you
When I set out to write this article I thought to myself, top trends are boring because they are always too obvious and have been going on for years. So I went on a quest to find the trends that will completely reshape the profession and yet will catch most of the risk managers completely… Continue reading 3 disruptive risk management trends that will shape 2023 and will totally surprise you
8 best risk management blogs
So much has been written about risk management and yet most of it is RM1. Before the year end I went on the quest to find worthwhile RM2 blogs moving the risk profession within the non-financial sector forward. #1 Nassim Taleb Nassim Taleb is an author of the INCERTO a philosophical and practical essay on uncertainty (Skin… Continue reading 8 best risk management blogs
Gestión de Riesgos: RM1 versus RM2
La gestión de riesgos está en el borde de algo muy interesante y emocionante en este momento. Por un largo tiempo, se creyó que haciendo una buena gestión de riesgos todos los actores clave de una compañía estarían satisfechos, pero la realidad es que los distintos tipos de actores quieren cosas completamente diferentes: La RM1… Continue reading Gestión de Riesgos: RM1 versus RM2
Desafío de las Cinco Semanas: Integrando la Gestión de Riesgos a la Toma de Decisiones
Cuando se quiere abordar la implementación de sistemas o marcos de trabajo para la gestión de riesgos en una organización entera, usted se puede llegar a encontrar con un desafío insuperable. Para ayudar a que una organización pueda alcanzar sus objetivos de forma más segura, es conveniente comenzar a mejorar tan sólo una instancia de… Continue reading Desafío de las Cinco Semanas: Integrando la Gestión de Riesgos a la Toma de Decisiones
What is a risk? It’s not what you think it is
If there is one thing I learned as a CRO, it is crucial to understand the nature of each and every risk we have to work with. I will no doubt write a separate article about the mistake of aggregating various risks into a risk register or attempting to use the same methodology to quantify… Continue reading What is a risk? It’s not what you think it is
