RMP are the risk managers for The LAPP Fund, a NZ local government mutual pool for financing catastrophe risk to essential infrastructure assets. In this presentation I tell the story of the LAPP Fund from its inception in 1993, highlighting the benefits of pooling along the way. The take away: “Pooling is not only about
I was asked to speak at this CPA event. I used the risk management process to help attendees understand how uncertainty in forecasting can be better managed. I highlighted sources of risk around data, psychological biases and the external social, economic and political environment. I included a section on identifying economic “bubbles” such as the
In the current economic climate many organisations are cutting costs, some dramatically. The role of Risk Management in the cost cutting process should be to ensure the right amount of cost cutting in the right areas to deliver short, medium and long term success. Below we outline the role of Risk Management when: Systematically removing
Uncertain times mean increased risk. With risk comes opportunity and now is the time to review your approach to risk-based decision making. In this current financial climate it is key that your approach to decision making is based on a sound understanding of the risk-reward equation. Do I need to act now or should I
The US regulators have failed to do their job and the US tax payer is to foot the bill. In Australia it is a different story. Should we give APRA a pat on the back? At RMP we believe APRA should be commended for their adoption of the principles of risk management within their policy