Recently, I sat down to do my weekly Wednesday live stream. Normally I share stories, answer questions and discuss lessons I learned as a Chief Risk Officer, but this time I wanted to talk about something else. Something that has been troubling me for a while. The fundamental flaws in decision making and risk management.… Continue reading CRO DIARY: We are so busy chasing the next “sexiest” risk, we miss the forest for the trees
Tag: Risk Management Process
Real life application of quantitative risk analysis, an excellent case study
Can 17 risk managers double their money in just 2 days with no luck and using only quantitative risk analysis? Find out in this short case study. The problem To test how well quantitative risk analysis performs I wanted a real life situations, where odds were known and the stakes were high. National lottery looked… Continue reading Real life application of quantitative risk analysis, an excellent case study
GRC & Me, Episode 6: Alexei Sidorenko – The most controversial risk thought leader?
Today, we are excited to have Alexei Sidorenko calling in from Spain to discuss industry-specific risk methodologies. Alexei has over 14 years of experience in private equity, sovereign funds, and investment authority—to name just a few of his domains. He shares everything from the exciting start of his career to his recent experience heading up… Continue reading GRC & Me, Episode 6: Alexei Sidorenko – The most controversial risk thought leader?
RISK AWARENESS WEEK – introducing our new logo
Say hello to RAW2019! Our risk-based decision making octopus :)) Why octopus? Well, couple of reasons: Just like an octopus using his tentacles, risk managers should integrate their practices into all significant decisions, business process and the overall culture of the organisation And once risk management is integrated, it should become almost invisible, integrate with… Continue reading RISK AWARENESS WEEK – introducing our new logo
Absolute triumph for the quantitative risk analysis – part 3/3
Read this till the end. This is one of the best stories of risk management application in real life by some of the best risk managers I have ever met. I started writing yet another article trying to convince risk managers to grow their quant competencies, to integrate risk analysis into decision-making processes and to… Continue reading Absolute triumph for the quantitative risk analysis – part 3/3
Skin in the game: can risk managers use their witchcraft to make money – part 2/3
I started writing yet another article trying to convince risk managers to grow their quant competencies, to integrate risk analysis into decision-making processes and to use ranges instead of single point planning… but then I thought… why bother… why not show how risk analysis helps make better risk based decisions instead? After all, this is… Continue reading Skin in the game: can risk managers use their witchcraft to make money – part 2/3
Skin in the game: if risk managers are so smart why are they not millionaires?
I started writing yet another article trying to convince risk managers to grow their quant competencies, to integrate risk analysis into decision-making processes and to use ranges instead of single point planning… but then I thought… why bother… why not show how risk analysis helps make better risk based decisions instead? After all, this is… Continue reading Skin in the game: if risk managers are so smart why are they not millionaires?
#ChangingRisk – Gerenciamento de risco costumava ser uma ciência, depois virou uma arte e agora?
Últimas visões de Alex Sidorenko sobre como a “inovação”, falta de competências e os consultores estão matando o gerenciamento de riscos em organizações não-financeiras e o que vem por aí atualizado em 2019 especificamente para Strategicrisk https://www.strategic-risk-europe.com/risk-management-used-to-be-a-science-then-it-became-an-art-whats-next/1429754.article. Primeiro havia ciência… Algumas fontes sugerem que a teoria da probabilidade surgiu nas apostas e nos seguros marítimos. Em ambos… Continue reading #ChangingRisk – Gerenciamento de risco costumava ser uma ciência, depois virou uma arte e agora?
Is IIA secretly trying to kill risk management? Sometimes I wonder.
IIA recently published a Practice Guide on Assessing the Risk Management Process. It sounded interesting so I set aside some time to go through the document. Overall verdict The maturity model proposed by IIA has exactly the same fundamental flaws that all of the other 100+ consulting risk maturity models out there have. Plus, while… Continue reading Is IIA secretly trying to kill risk management? Sometimes I wonder.
Finally! An alternative to risk matrices
Ok, the title is obviously a joke, because the alternatives (multiple) have been available to anyone willing to learn for over 50 years. But since you clicked, this article will probably change your life for the better. Thank you Damir Ramazanov, Group Project Risk Manager, ERG for helping with the article and providing quality review. … Continue reading Finally! An alternative to risk matrices
