What competencies should risk managers outside of banks and insurance companies really have?

Posted in Risk management

Originally written for RM GURU and posted on  http://riskmanagementguru.com/competencies-risk-managers-non-financial-companies-really.html/ Here is also a short video summary of the article: https://www.youtube.com/watch?v=nqmnycKZwgg 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… Continue reading What competencies should risk managers outside of banks and insurance companies really have?

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UDEMY: Informed risk taking

Posted in Risk management

Good news, first RISK-ACADEMY online course is now on Udemy! This course is not about doing risk assessments, building risk registers, heat maps or risk reports. None of these things have anything to do with proper risk management. This course is about alternative, a different take on risk management. This is what I call risk… Continue reading UDEMY: Informed risk taking

Practical ideas: CONTINUOUSLY IMPROVE YOUR OWN RISK MANAGEMENT SKILLS

Posted in Risk management

Risk management has evolved significantly over the last 10 years and we probably haven’t seen the last of the changes just yet. Norman Marks recently called for a leap change in risk management guidance. Alex Sidorenko, one of the authors of this guide, has also published a series of articles calling for a major change… Continue reading Practical ideas: CONTINUOUSLY IMPROVE YOUR OWN RISK MANAGEMENT SKILLS

Practical ideas: BUILD YOUR OWN NETWORK OF RISK ADVISORS

Posted in Risk management

We always encourage risk managers not to reinvent the wheel. Learn from others. Build connections with risk managers from similar companies. A good place to meet similar minded risk managers is the G31000 group on LinkedIn https://www.linkedin.com/groups/1834592. Do not be afraid to share your own experiences or participate in online and face-to-face discussions or initiatives… Continue reading Practical ideas: BUILD YOUR OWN NETWORK OF RISK ADVISORS

PODCAST: Start by selecting the overall framework and documenting legal requirements 17.05.2018

Posted in Risk management

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Podcast: Play in new window | DownloadSubscribe: Android | RSSAs far as international risk management standards go, the best choice for any non-financial organisation is by far the ISO 31000:2018. At the time of writing the standard had been officially translated and adopted in 70+ countries, making it truly global. ISO 31000:2018 is an international… Continue reading PODCAST: Start by selecting the overall framework and documenting legal requirements 17.05.2018

Practical ideas: TAKE OWNERSHIP OVER SOME RISK ASSESSMENTS

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At the risk of sounding controversial, we believe risk managers sometimes need to take responsibility for providing an independent risk analysis not based on the information supplied by the management. Although rare, there may be situations where manager approving the project or making a decision has significant conflicts of interest or there may be suspicion… Continue reading Practical ideas: TAKE OWNERSHIP OVER SOME RISK ASSESSMENTS

Practical ideas: PROMOTE RISK MANAGEMENT AS A SERVICE

Posted in Risk management

Risk managers have a unique competency to identify and analyse risks using advanced tools like scenario analysis, sensitivity analysis, decision trees and Monte-Carlo simulations. This toolset can significantly improve business decision making. And just like any other service or tool it needs to be marketed to the rest of the organisation. Risk management needs to… Continue reading Practical ideas: PROMOTE RISK MANAGEMENT AS A SERVICE

PODCAST: Guide to effective risk management 12.05.2018

Posted in Risk management

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Podcast: Play in new window | DownloadSubscribe: Android | RSSNowadays, risk management is on everyone’s corporate agenda; let it be a private or public organisation. A special attention to risk management is paid by governments, stock exchanges, shareholders and regulators. However, this hasn’t always been the case. We began our risk management research back in… Continue reading PODCAST: Guide to effective risk management 12.05.2018

Practical ideas: INFORM MANAGEMENT ABOUT EMERGING RISKS

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Risk managers can bring a lot of value to the company by informing management about emerging risks. To do this, risk managers need to establish procedures for scanning the external and internal environment, for identifying emerging risks, recording them and informing senior management in a timely manner. In order to identify emerging risks, risk managers… Continue reading Practical ideas: INFORM MANAGEMENT ABOUT EMERGING RISKS