One of the most widely attended sessions at the BAI Retail Delivery conference was a Q&A hosted by John Colas, Partner at Oliver Wyman. Colas was interviewing David Silberman, the Assistant Director, Deposit and Payment Markets Consumer Financial at the Consumer Financial Protection Bureau (CFPB). As you can imagine, there
I had the pleasure to be the host of the Risk and Finance Insight Session on the second day of The Premier Business Leadership Series, where we discussed the subject of enterprise risk management and financial stewardship. With global, political and financial upheaval becoming the norm (and during the conference
A panel of risk experts gave their reaction to the publication of the fifth global risk management survey report undertaken by SAS and the Economist Intelligence Unit. The report suggests that while lessons have been learned, some institutions may be sliding into complacency. At any rate, risk appetites are growing
I was under the impression that Black Swans were supposed to be rare. Rare enough to be effectively non-computable by standard methods. Nassim Taleb’s formulation of the Black Swan Theory is comprised of the three traits of: outlier (rarity), extreme impact, and retrospective predictability (i.e. 20/20 hindsight). I write this
The goal of enterprise risk management (ERM) is to eliminate the siloed approach to identifying, monitoring and managing risk practices throughout an organization. By applying a consistent approach to ERM policies and procedures through a clearly delineated organizational risk hierarchy, organizations can mitigate risk and identify new business opportunities. Insurers
There are numerous strategic risk issues that might keep a chief risk officer or chief executive officer awake at night. Particularly since the financial meltdown, many are asking themselves (and anyone who will listen), “Do we need to do more in risk management?” Evaluating your program is an intense process,
What is Risk Management? Risk Management can be found in many forms. This was emphasized to me while I was Googling “risk management in financial firms.” What I found were hits covering risk management across a wide spectrum of activities, from risk assessment for projects large and small to mathematical
My introduction to the issue of risk in business decision making came rather abruptly and rudely during what I thought was going to be another routine quarterly business review with the executive committee. My particular agenda item was to present the business case for a “lite” version of one of
The best business book I’ve ever read (or at least the best by someone not named “Drucker”) has been “Competing on Value” by Mack Hanan and Peter Karp. Not trendy or full of consultant-speak buzzwords, first published in 1991, it’s simple, direct approach has stood the test of time, even
Earlier this week UK chancellor George Osborne announced his first budget as “tough but fair”. His action on debt echoed austerity measures being taken across other parts of the world. As I write this blog, President Obama and the G20 are assembling in Toronto. Opinions are mixed with Europe pushing
