Everybody says the risk managers should speak business language. But what does it actually mean?

Well to me, this means – the results of the risk analysis has to be presented in EXACTLY the same way the decision is being discussed. If an investment decision is made based on NPV and IRR – then risk manager has to bring to the table new calculation for NPV and IRR based on…… Continue reading Everybody says the risk managers should speak business language. But what does it actually mean?

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

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 though to myself, what a…… Continue reading What competencies should risk managers outside of banks and insurance companies really have?

Risk management chat-bot – use AI to measure risk management maturity

Institute for Strategic Analysis Risk (ISAR) and http://www.risk-academy.ru present artificial intelligence chat-bot that helps non-financial companies and government agencies evaluate risk management effectiveness, determine risk management maturity level and develop a set of recommendations for integrating risk management into decision making and core business processes. This is an amazing tool that can help companies quickly and efficiently…… Continue reading Risk management chat-bot – use AI to measure risk management maturity

The Risk of Using Risk Matrices

Must read for all risk managers. You may ignore the findings, but a must read nevertheless:  The risk matrix (RM) is a widely espoused approach to assess and analyze risks. RMs have been implemented throughout that industry and are extensively used in risk-management contexts. This is evidenced by numerous SPE papers documenting RMs as the…… Continue reading The Risk of Using Risk Matrices

Gamification in Risk management 2.0

I have recently came across a wonderful article on gamification https://www.tenfold.com/gamification/gamification-tenfold-digital-engagement-sales-motivation and has decided to build another risk management game for the next years G31000 risk management conference. We will first pilot it at the largest risk management conference in Russia and then bring it to the global G31000 event. Any ideas on the topic for…… Continue reading Gamification in Risk management 2.0

ISO 31000 vs COSO ERM – The Great Debate

In this session, global experts will discuss the strengths and weaknesses of two leading risk management frameworks covering everything from what’s good, what’s bad, what could/should be improved, how to “cherry pick” the best from both, which one is most likely to be favored by regulators globally, and much more. You might even learn a…… Continue reading ISO 31000 vs COSO ERM – The Great Debate

Risk Management Could Be a Powerful Tool, But it Just isn’t (part 4)

In the final of a four-part series, Alex Sidorenko, founder and CEO of Risk-Academy, explains how to integrate risk management into core processes. If there is one thing I learned in my previous role as Head of Risk at a multibillion-dollar sovereign investment fund, risk management is not about managing risks. It’s about helping management…… Continue reading Risk Management Could Be a Powerful Tool, But it Just isn’t (part 4)