Riskczar's Blog

Posted in ERM Basics, Office and culture, Thought Leadership | Tagged Rick Nason, risk management | 5 Comments

5 Responses

1. on December 17, 2009 at 4:20 pm | Reply Keith Baxter

   I think that there is a big difference between financial risk management and the rest of what is commonly termed “Enterprise Risk Management”. This remaining piece is generally poorly done due to the application of financial techniques to what is essentially a “people” problem. Techniques that cover the softer/psychological side of risk are required.

   
   
2. on December 17, 2009 at 4:47 pm | Reply riskczar

   I agree Keith.

   I view ERM implementation as a change management exercise with risk management content. Anyone can identify and assess risks and stop there. Sadly, I’ve witnessed situations where Chartered Accountants (CA) in senior finance positions have a bias towards individuals with the same CA designation; they don’t understand the skills requirements to do this kind of work. I call this hiring the “least worst” rather than the best person for the role.

   
   
3. on December 29, 2009 at 7:05 am | Reply riskovation

   This is exactly the theme I talk about to take the risk profession to the next evolution. Essentially we need to see the risk professional as a mash-up of quantitative methods, qualitative methods and judgement, innovation and revolutionary thinking. The professional has always been one of historical conservatism, so this is going to be a huge challenge for us all to embrace.

   
   
4. on December 29, 2009 at 7:08 am | Reply The new risk management professional is creative « Riskczar Corporation « Riskovation リスクイノベーション

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5. on January 20, 2010 at 7:04 am | Reply The new risk management professional is creative « Riskczar Corporation - Innovation of Risk - theinnovationofrisk.com

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