Thank you, dear readers, you made this year amazing. The blog has been visited 54000+ times, which is almost triple that of 2017. Here top 5 most popular articles on RISK-ACADEMY blog this year:
A while back I saw some discussions about competencies that risk managers should have. Some people talked about empathy and emotional intellect, others about strong communication skills and networking. And I thought to myself, what a load of rubbish. Don’t get me wrong, they are of course important and useful, but there is more to the profession. Risk management is much more science than art. It’s only the people who ignore the science that go for the softer side usually. As a result, I have tried to list 4 key competencies risk managers in non-financial companies should develop to successfully support the decision makers and risk takers and hence add value to their organizations.
The concept of risk-appetite has been around for years, yet so many risk practitioners still find themselves confused and unsure how to quantify, formalize and document it. Well, the short answer is YOU DON’T NEED TO. There is a better way.
During my recent trip to Australia, I had an amazing opportunity to sit down with Grant Purdy to talk about where risk management started in Australia, the origins of the AS/NZS4360 and the ISO31000 and why modern day risk management, as perceived by majority risk managers in non-financial companies, is an embarrassment to the profession.
For a long time, I naively thought that by doing good risk management all the key stakeholders would be satisfied, but the reality is, different stakeholders want completely different things. There is risk management 1 – risk management for external stakeholders (Board, auditors, regulators, government, credit rating agencies, insurance companies and banks) and risk management 2 – risk management for the decision makers inside the company. In this article, I would argue RM1 and RM2 are totally different.
Check out other risk management books
and the most popular blog post in 2018 was…
Enjoy, Merry Christmas, Happy New Year and I have many more in store for you in 2019. Make sure you subscribe to the RISK-ACADEMY blog and join our YouTube channel: https://goo.gl/ksCybT