Sometimes you need to go beyond nudging decision makers. However, the personal risk you take when challenging a decision depends on culture. Last week I was given cause to reflect on my time at HIH Insurance and the causes of its demise in 2001. While there were many, and people with different lenses could easily come
Can you make a difference with measurement if the culture of your organisation is one that does not respect, let alone crave data? In my experience it is tough to go hard against the grain of an organisation’s culture. The better way is to nudge it. How might you nudge it? Culture change can start
Back in 2015, McKinsey published a paper on the future of risk management in the banking sector. At the time I sent it to many of my clients in other sectors because of its very important messages, including this one in their summary: “Bank risk management will likely look dramatically different by 2025, when it has
Where should your lead indicators (KRIs or Key Risk Indicators in the field of risk) come from? A few years ago my colleague Andrew Prately and I toured the country to speak at Chartered Accountants Business Forums. We spoke on KPIs – Key Performance Indicators. We talked about lead and lag indicators and we talked
A key takeaway for attendees at the free interactive webinars I am running with my colleague Dr Andrew Pratley on quantifornication was that when it comes to the field of risk assessment, scrapping the risk matrix is not the first step you should take. There are many, many risk practitioners who are calling for the scrapping of the risk