REPLAY: Risk Culture Eats Strategy for Breakfast, Too #riskawarenessweek2019

Peter Drucker, the founder of modern management, articulated succinctly:  “Culture eats strategy for breakfast.”  The same holds true for risk culture, however, after some landmark oversight cases and accounting scandals of the late 1990s and early 2000s, a shift occurred in the then-emerging field of Enterprise Risk Management (ERM) in firms, denoted in part by the reframing of the phrase “risk culture” from being opportunistic and innovative in pre-financial crisis (2007-2009) to something that is both dangerous and harmful in post-crisis.

ERM consequently became focused on the auditing or the accounting fields, or both, emphasizing processes and organizational structure as best practices for ERM, and therefore became the “risk management of nothing.”

In this session, Tara Kenyon shows how a country’s culture—be it risk-taking or risk-averse—strongly influences organizational strategies not only for risk management but, more broadly, also for overall business strategies and decision-making.

This is a must watch session for anyone working in risk management and a great foundation for the whole week. Make sure you sign up!

About Tara

Tara Heusé Kenyon is the Founder and CEO of Kentara Analytics (USA), a strategic analytics services firm, specializing in quantitative risk, credit risk modeling, and strategic and capital planning. Tara works with regional and community banks and credit unions to make the connection between data and analytics and their correlations to improved margins, better decision-making, and quantitative risk management. Sensitive to the nuances of varying risk cultures, Tara travels the world to speak as a thought leader on risk-taking methodologies for improved firm performance and value.

Mrs. Kenyon was recently featured on the cover of Banking CIO Outlook magazine’s Banking Analytics Special issue as her company was named a Top 10 Banking Analytics Solution Provider for 2018 in only the second year of the company’s operation. She also served as Professeur of Risk Management for the MBA Program of the International School of Management at the Institut Supérieur Européen de Gestion (ISEG) in Paris. Prior to founding Kentara, Mrs. Kenyon was a US-based Global Banking Practice Leader for a Fortune Global 500 company, leading a team of experts providing risk management expertise for the banking industry.

A former Chief Risk Officer for a large regional US bank, her financial industry experience spans over twenty-five years. Mrs. Kenyon, who holds an MBA from Louisiana State University (USA), is a distinguished graduate of the American Bankers Association’s Stonier Graduate School of Banking. Her Stonier thesis is published in the Harvard Business School library. She is also a PhD candidate at the International School of Management where her doctoral thesis, Risk Culture and Its Influence on Firm Value, Financial Performance, and Entrepreneurship, is currently under review.

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