I believe there are 3 things risk managers of the future will be doing. Today, most of you are doing number 1, some, very few, are doing number 2 and almost no one is doing number 3. Risk managers of the future will be spending 50% of their time on number 3, 49% of their… Continue reading 3 Risk Management Ideas from the Future
Tag: risk analysis
7 reasons you haven’t implemented quantitative risk management yet
In the wake of so many meltdowns, such as the 2023 collapse of Silicon Valley Bank and the 2022 implosion of FTX cryptocurrency exchange, as well as events like the 2021 Archegos Capital Management collapse, the 2021 Suez Canal obstruction, and the far-reaching impacts of the 2020 COVID-19 pandemic, investigations have consistently revealed significant shortcomings… Continue reading 7 reasons you haven’t implemented quantitative risk management yet
Flexible distribution is better than Triangular or PERT, project managers and cyber risk beware
In my last post, I introduced you to the game-changing concept of flexible distributions. If you haven’t read it yet, do yourself a favour and check it out here: You don’t need to worry about which distribution to use any more. With flexible distributions, available on MakeDistribution, the distribution molds itself to fit your data… Continue reading Flexible distribution is better than Triangular or PERT, project managers and cyber risk beware
Reframing everything you know about risk management in a 1.5 hours – watch the full video from RISK-IN conference in Zurich
Risk management is often framed as a separate discipline focused on managing risks through risk registers, heat maps, risk frameworks and qualitative risk reports. This is like confusing astronomy and astrology. Risk registers, heat maps, risk frameworks and qualitative risk reports have nothing to do with risk management, let alone risk based decision making. This… Continue reading Reframing everything you know about risk management in a 1.5 hours – watch the full video from RISK-IN conference in Zurich
100 AI strategies that will transform your risk taking skills
We’ve hit an exciting milestone with the first 100 registrations for RISK AWARENESS WEEK 2024! To me, each registration represents a commitment to advancing risk management and decision-making . And to celebrate, I have prepared 100 ideas AI can transform your company and personal decision making. That’s right. A hundred ideas. Not bs, generic AI-generated… Continue reading 100 AI strategies that will transform your risk taking skills
Never compare inherent to residual risk again
The concept of inherent risk originated in insurance where underwriters used Maximum Possible Loss (MPL) to determine the total value that could be lost in a catastrophic event. MPL considers the absolute worst-case scenario, with no controls in place, even if it’s highly unlikely to occur. The concept of considering the worst-case scenario loss has… Continue reading Never compare inherent to residual risk again
Quant models overthrow traditional risk management: embrace or perish?
In my last job as a Head of operational risk and insurance, I needed a team of 3 quants to build risk models to support decisions, quantify expected losses and calculate expected shortfalls. In my current job, as Head of risk, insurance and internal audit, I can do all this with with 2 AI models,… Continue reading Quant models overthrow traditional risk management: embrace or perish?
Help unlock the power of uncertainty: Why I think Excel needs probabilistic calculations
Whether we like it or not, Excel spreadsheets are the backbone of countless businesses and organizations. They drive projections, inform decisions, and model all sorts of processes. But there’s a fundamental limitation – Excel is deterministic. Just one limitation, you say. I hear you, there are plenty of limitations, but this one is a true… Continue reading Help unlock the power of uncertainty: Why I think Excel needs probabilistic calculations
RISK-ACADEMY’s Guide to Risk Management Implementation
📣 Introducing the RISK-ACADEMY’s Ultimate Guide to Risk Management Implementation! 📚 Our comprehensive guide covers everything from integrating risk management into decision-making processes to building a risk-aware culture within your organization. 🚀 Get ready to transform your risk management strategy with practical tips, real-life case studies, and expert insights. Don’t miss out on this essential… Continue reading RISK-ACADEMY’s Guide to Risk Management Implementation
RISK-ACADEMY’s guide on ISO31000:2018
We are excited to announce the release of our new RISK-ACADEMY guide on ISO31000:2018, a globally recognized standard for risk management. Our guide is designed to help organizations implement the principles of ISO31000:2018 and mature their risk management practices. Our comprehensive guide provides an in-depth understanding of the ISO31000:2018 standard, including its key principles and… Continue reading RISK-ACADEMY’s guide on ISO31000:2018
