‘Re-rethinking’ the relationship between risk management and regulatory systems

The current context of regulation Who’d be a regulator today?  As more and more regulatory initiatives run in to trouble, it is harder than ever to get agreement domestically, let alone internationally, on what regulation in any sector should prescribe or proscribe and how it should operate. In the UK, the findings of the inquiry…

An agenda for improving corporate risk management

In the course of preparing a series of seminars we will be delivering in London this winter, we have focused on what an agenda or ‘manifesto’ for improving corporate risk performance would look like.  What should the firm do practically to improve its management of risk and uncertainty? The agenda has five items. 1. Better…

Risk: what’s changed and why it matters

With a level of wisdom for which he was rightly famous, John Keynes (famously!) concluded his General Theory with a paragraph which included the statement Practical men, who believe themselves to be quite exempt from any intellectual influences, are usually the slaves of some defunct economist. And so it has proved to be.  Many commentators…

(R)evolution of risk knowledge & training – more realistic or more of the same?

To look at most risk training on offer, you’d think post-crisis risk management was all ‘business as usual’.  Worse, perhaps it really is ‘business as usual’.  Why, after such fundamental challenges to the logic and efficacy of risk management since 2007, has there been so little change to how all businesses – whether financial institutions…

Company secretaries: adjusting to the ‘new normal’?

Prepared for ICSA’s annual conference, London, March 2012 If installing Fred Goodwin as Knight Bachelor in 2004 “for services to banking” was unwise, the decision by the previously (and subsequently) obscure Honours Forfeiture Committee to recommend that Her Majesty annul the appointment achieved a whole new low.  While he was, self-evidently, ultimately not a successful…