Riskczar Comics #2
Archive for September, 2011
Riskczar Comics – Business continuity and the satellite
Posted in comics, Humour, tagged BCM, BCP, comics, Disaster, NASA, risk culture, satellite on September 30, 2011 | Leave a Comment »
Riskczar Comics – The CEO and the risk report
Posted in comics, Humour, Risk management, tagged comics, risk culture, risk report, Riskczar on September 29, 2011 | Leave a Comment »
Here’s my first crack at an illustrated view of risk management in the world today. If you would like to see more of these please leave a comment at riskczar.com or @riskczar (as I probably have about 20 more ideas waiting to be drawn). Riskczar Comics #1
Oswald Grübel’s moment of wrongness
Posted in Books, Risk management, tagged Kathryn Schulz, Kweku Adoboli, Maureen Miskovic, Oswald Grübel, Oswald Gruebel, wrong, wrongness on September 23, 2011 | 3 Comments »
I just had the pleasure of watching author Kathryn Schulz’s TED video about being wrong. As I watched I couldn’t help thinking about Oswald Grübel’s “moment of wrongness”: when he learned about UBS’s $2 billion trading loss. Last November Grübel went on record saying “Risk is our business. I can assure you, as long as I’m [...]
They will always find a way to screw you
Posted in ERM Basics, Frameworks, Humour, Office and culture, Risk management, tagged Andrew Hill, AS/NZS 4360, COSO ERM, ERM, FT, Globe and Mail, ISO 31000, Maureen Miskovic, Oswald Grübel, risk culture, risk management, UBS on September 20, 2011 | Leave a Comment »
I worked about six shifts at a Burger King in a shopping mall when I was in my teens. I quit because I didn’t care much for wearing the brown pants and hairnet. On my final night, the closing shift, I helped the veterans take the trash out. When we got to the Dumpster my [...]
There’s risk in relying on risk managers
Posted in ERM Basics, Frameworks, My Opinions, Risk management, tagged Andrew Hill, Carsten Kengeter, delta, FT, Globe and Mail, Kweku Adoboli, maure, Oswald Grübel, UBS on September 20, 2011 | 2 Comments »
Andrew Hill from the Financial Times writes there’s risk in relying on risk managers. He also notes that despite Carsten Kengeter’s assertion: “We will not rest until we have controls that are as watertight as possible”, we all know that organizations cannot function without taking any risk. Banks and investment banks are in the business [...]
CEO Oswald Gruebel reacts to UBS fraud [humour]
Posted in Humour, Risk management, tagged Adoboli, delta, derivatives, fraud, Ghana, Maureen Miskovic, Oswald Grübel, risk management, rogue, Suisse, Swiss, Swiss bank, Switzerland, trader, UBS on September 17, 2011 | Leave a Comment »
Here is a reenactment of how UBS CEO Oswald Gruebel reacted when he learned about the $2 billion fraud. (That is Colin Firth portraying Gruebel on the left.) http://www.youtube.com/watch%3Fv%3DxJvGE7Vvd4M
Risk management is neither the cause nor the solution to UBS’s problems
Posted in My Opinions, Risk management, tagged Adoboli, Amanda Lang, CBC, delta, derivatives, fraud, Ghana, Maureen Miskovic, Oswald Grübel, risk management, rogue, Suisse, Swiss, Swiss bank, Switzerland, trader, UBS on September 16, 2011 | 2 Comments »
A headline today on CBC.ca reads “UBS case latest failure of risk management”. I think I will spend the rest of the day being offended by the CBC. (All will be forgiven if Amanda Lang appears on the National tonight.) Despite all the systems, oversight, controls, compliance, supervision and some other sixth thing, you can’t [...]
