The regulatory landscape for risk management in financial services is constantly evolving, presenting a formidable challenge for firms and Banks striving to comply and manage their risk profiles effectively. Drawing from the collective wisdom of seasoned risk managers, our goal with this article is to delve into the key challenges and practical strategies that can guide financial institutions through this dynamic landscape. Unraveling the Labyrinth of Regulations: A Risk Manager’s Perspective Experienced risk managers agree that the regulatory landscape has undergone a remarkable transformatio ..read more

As the year 2023 draws to a close, it’s time to reflect on the significant strides made in the realm of Risk Management within the financial services industry. Despite facing a multitude of challenges, including inflation, economic uncertainty, and geopolitical tensions, the industry seems to have demonstrated strong resilience and a steadfast commitment The financial services industry has experienced a number of challenges in 2023, with inflation, economic uncertainty, and geopolitical tensions all contributing to increased risk. However, the industry has also made significant progress in str ..read more

Introduction Risk management can be defined as the “process which aims to help organizations understand, evaluate and take action on all their risks with a view to increasing the probability of success and reducing the likelihood of failure” (Hopkin, 2010, p. 37). This is the definition made by the Institute of Risk Management (IRM), which also published ‘A Risk Management Standard’ (IRM, 2002), a guide that lays out a framework for managing risks. This report will critically analyse and evaluate this approach, also known as Risk Listing. This paper will initially examine the limitations of th ..read more

Introduction Monte Carlo simulations are currently the most common used techniques to estimate the risks that a Bank or firm might be facing at a given time. A Monte Carlo simulation is no more than a series of predictions for possible future events. Once the simulation has run, (virtually) millions of its results will produce a distribution of outcomes that can be analysed by the Risk Managers and displayed in a distribution chart. There are a multitude of models available that can be used which may vary by industry type. Older methods included, among others, the famous Risk Heatmaps, which a ..read more

Founded by Boris Agranovich in 2010, the Global Risk Community (GRC) is the world’s leading community for Risk Managers. According to its official information, GRC is also the world’s first crowdsourced training platform for Risk Managers. GRC provides hundreds of materials and resources in its website, among which videos and very interesting podcasts. Today we are listing the direct links to the GRC podcasts, which we found relevant to share with all the community out there. On The Risk Management show, we discuss the experiences and ideas behind what’s working in Risk Management right ..read more

The Risk Awareness Week 2021 is upcoming! It will be 5 days of the most interesting workshops and will occur between 11th and 15th of October. This event is considered to be the biggest virtual conference about Risk Management topics, delivering more than 50 interactive workshops with more than 30 speakers, including the best Risk Management professionals in the planet.   Our theme this year is better and greener decision making through risk management with specific focus on better planning, performance management and governance through risk management and decision science. Our core obje ..read more

Whether you’ve just started in Risk Management or you’re already a professional in this arena, this article will interest you. We are highlighting some of the reference professionals we follow who are seasoned Risk Managers, each in its own area of expertise. Most of these professionals have lengthy experience in Risk Management and are at the centre of current topics and discussions. Be sure to follow them on Linked In and Twitter as you will gain a lot as a professional by learning about what they have to say, and be able to participate in their ongoing debates. Note that this list isn ..read more

There is a race on across the globe towards increasing productivity and efficiency in the agriculture industry and making the businesses more sustainable. What we need is a fundamental shift in the way agriculture companies handle trading and risk operations and processes. Continuous pressure to increase operational efficiency, decrease reaction times, drive efficient collaboration and take informed decisions is at an all-time high. To keep up with the market challenges and demands, agriculture companies must find a way to leverage next-gen technology, analytics and blockchain to modernise rap ..read more

You’ve all been there, driving along knowing you can predictably change lanes with ease, when suddenly a car shows up in your blind spot. You swerve back to your lane and everyone in your car is startled to attention, wondering what happened and knowing you messed up. Or, you’re walking down the sidewalk, consumed by thoughts when you remember something back at the office. You stop suddenly in your tracks to turn around. You bump into an innocent victim and not only annoy them, but make them drop their phone on the concrete. Both of these scenarios exhibit some common, everyday blind spots. Th ..read more

Preface The Risk Management Guru (RMG) blog was founded in October 2015 with a very clear sense of purpose: to become the go-to blog for the best articles about Risk Management. Almost 5 years on and we are proud of the footprint we have created so far, with a special emphasis on our most read articles. The success of this blog is due to three main pillars: our growing readership base, who spread the word of mouth, the quality of our content, which is something we strive daily, and, most notably, our contributors (i.e. our gurus). Without you, this adventure would not be possible nor would the ..read more