I got the answer in the fist 100 seconds : ISO is 13 pages, COSO is long and painful. My conclusion is that one is much more adaptable to a small structure than the other. Answer given, thanks !
@sonjoysarker9193 күн бұрын
Your insights into new tech are always spot on! Have you thought about adding tutorials or “how-to” guides for your reviews? I think it could take your content to the next level!
@RISKACADEMY2 күн бұрын
Done riskacademy.blog/category/video/
@sonjoysarker9192 күн бұрын
@@RISKACADEMY I have been watching and reviewing your KZbin channel. I have reviewed and found that your channel and videos are not SEO properly. Channel SEO is not done. You need to do SEO using SEO friendly tags, trending tags. You need to write SEO friendly titles and descriptions using trending tags. You need to use eye-catching thumbnails. You need to do off-page SEO and marketing. Etc. and many more. Then, your channel will be ranked by the KZbin algorithm. When KZbin ranks, you will automatically start getting views. Do you know how to do these?
@nonesuchzach8 күн бұрын
Does anyone know the book that Graeme references? Causality? There are a number of similar titles but I cannot find the actual referenced material.
@RISKACADEMY5 күн бұрын
amzn.to/3WwRCuV
@jkdeefour9 күн бұрын
Spot on Sir😂
@afsanaakther217316 күн бұрын
Insightful perspectives from Alex Sidorenko on the evolving role of brokers, risk-based insurance, and industry best practices!
@StCreed17 күн бұрын
This is the main reason why "less regulation" is the rallying cry of the robber baron.
@RISKACADEMY14 күн бұрын
Well... I am more thinking of risk reward, some risks need to be regulated, others do not
@JoukeGaastra19 күн бұрын
I'm surprised that this doesn't have more views! This was really insightful. I Will be writing my master's thesis on Risk matrices, and I'd like to learn more. I have also posted some alternatives to risk matrices on my blog.
@RISKACADEMY18 күн бұрын
Me too, Mark is a champion. Also read this riskacademy.blog/finally-an-alternative-to-risk-matrices/
@ameerjafar9883Ай бұрын
sound quality is catastrophic !
@thaynaloritzАй бұрын
Alex, what vídeo can I watch to understand all context about this short?
@RISKACADEMYАй бұрын
kzbin.info/www/bejne/mpjUhpdvfrWee9U
@SignalGeniusАй бұрын
Аналитика всегда помогает
@SignalGeniusАй бұрын
Класс! Столько информации в одном видео!
@wbprofissionalАй бұрын
Congratulations.
@RISKACADEMYАй бұрын
Many many thanks
@MotoM0nkАй бұрын
Lots of food for thought. Thank you Normal and Alex!
@EstherCamiloАй бұрын
fantastic!
@CambsGuyUK2 ай бұрын
This sort of thing is invaluable, to me at least. While I can probably work out how to go about the process, benchmarking against what others do through worked examples gives me some idea of whether or not I am overthinking or overcomplicating the process, or whether there may be something I have missed. Many thanks for this, and all your work. It has been much appreciated over the years.
@JohnEButton2 ай бұрын
Excellent lecture. I recommend it to anyone in risk mgmt who wants to really demonstrate the value of good risk analysis
@RickieBeubie2 ай бұрын
very informative, thanks a lot Michiel
@mfa24712 ай бұрын
The prototypical risk register is NOT executed properly (an artifact of inadequate risk managers) but there’s one issue with getting rid of it entirely: How do you allocate capital based on risk? This becomes a naive endeavor without any register to track risks that are linked to stress testing, etc. you also cannot aggregate and compute risks. It’s not the register, it’s the MANAGER.
@RISKACADEMY2 ай бұрын
Not really, you need expected and unexpected losses, maybe expected shortfall to allocate capital based on risk. There is no place for risk register there
@mfa24712 ай бұрын
Unexpected shortfall of what, exactly? I have capital demands for multiple risks. What shortfall would I be measuring? I don’t agree with that-it’s naive.
@RISKACADEMY2 ай бұрын
@@mfa2471 I don't understand how your comment relates to what I wrote or how it supports your original claim that we need a risk register to allocate capital
@mfa24712 ай бұрын
@@RISKACADEMY respectfully, aren't you anti rist-list? That said, that would mean, all risk category work is useless (because without a register/central repository, any categorization work is orphaned) Secondly, I would allocate capital based on capital demanded from top risks (e.g., operations, market, credit, etc.) This has the added benefit of alignment with regulation in Canada and U.S. for Financial institutions whereby {capital supply-capital demand=Capital Adequacy}. This is the most practical way to view risks and I can disaggregate from enterprise portfolio (i.e., total company portfolio of investments and assets) into individual portfolios, individual business-lines, departments, etc.
@RISKACADEMY2 ай бұрын
@@mfa2471 are you commenting from a financial services perspective? because we seem to be speaking different languages. risk categorisation, risk lists, they are just not a thing in my world
@RickieBeubie2 ай бұрын
top notch debate, I especially liked the fact that you guys didn't agree on everything, which gives 2 visions or what RM can be and let the door open for each professional to invent its own way
@RISKACADEMY2 ай бұрын
I think there is hardly anything to invent, risk management 2 (RM2) methodology is pretty standard since decision science was established as a separate field
@williamgeorgen5292 ай бұрын
Sorry to bother you Mr. Putt, but I've been reviewing many of your videos, and have been learning a lot since I'm new to SIPmath and Data Tables in general, and I was wondering if you ever did publish a video for a column oriented Data Table and as it relates to SIPmath (you did publish one on Row oriented Data Tables). Also, if you can point me to any other video resources that provide tutorials on beginning uses of Data Tables and SIPmath in general that you have published, I would appreciate that very much. I'm a retired electrical engineer and trying to spin up this material to help with financial planning and other projects. Thank-you for your help! Bill/Vienna, VA
@mfa24712 ай бұрын
I think you politely nail this, Norman. One issue I see is, the role of ERM in a portfolio of companies when you may want your companies to manage risks independently. I’ve been thinking about this problem for some time and I think I’m close to formalizing a logical framework to determine when to apply a centralized risk approach.
@RISKACADEMY2 ай бұрын
What is a centralised risk approach? I can't think of a single logical application. Maybe you can add cVaRs to calculate overall capital requirements, but you still wouldn't add up all risks and it has nothing to do with ERM.
@mfa24712 ай бұрын
Aggregating and computing risk up to an enterprise portfolio has nothing to do with ERM? Oh boy. Happy to debate, anytime!
@RISKACADEMY2 ай бұрын
@@mfa2471 I have no idea what is enterprise portfolio in your mind.
@mfa24712 ай бұрын
@@RISKACADEMY First off, Norman I think you're brilliant and I enjoy your work... Here's two logical examples: holding companies; total portfolio approach of asset management programs. I am a proponent of the 'total portfolio' approach (managing risk at the top of the investment house and allocating capital) but, this may lead to investment programs strategically converging (i.e., taking on the same risk/return opportunities out there in the market), if done improperly.
@RISKACADEMY2 ай бұрын
@@mfa2471 so this is a good example to illustrate my point. Capital allocation is an example of one specific decision. A company, outside of financial services where they are forced by a regulator, in their right set of mind would not capture and aggregate risks through ERM, it would develop a methodology specifically designed for capital requirement calculation and capital allocation. Which is exactly the point I am making, if the decision is important enough it should have a tailor made risk methodology.
@XeyyamRüstəmov-i7x2 ай бұрын
Очень интересно и главное во время.
@jofelux73592 ай бұрын
Very informative and useful discussion 👍
@kakooo2223 ай бұрын
This channel is a TREASURE
@RISKACADEMY3 ай бұрын
Try our own amazing RAW@AI riskacademy.ai
3 ай бұрын
Good lecture. 👍
@UrielThine3 ай бұрын
Hi could you please tell me how can I see the rest of the video?
@ibragimjondomuladjanov44933 ай бұрын
нормальная лекция
@mike-williams3 ай бұрын
Audio is very poor. Captions would help.
@RISKACADEMY3 ай бұрын
I just checked, audio is fine, try on a different device
@mike-williams3 ай бұрын
@@RISKACADEMY Another device will not get rid of the echo and variable volume from your device. I will try a different KZbin channel.
@RISKACADEMY3 ай бұрын
Good luck @@mike-williams
@LaveeYang-b8q4 ай бұрын
I work in quality, regulatory, and risk management for two decades now. I agree with your thesis.
@souzanalowesi50624 ай бұрын
What is the name of this software?
@RISKACADEMY4 ай бұрын
SIPmath, probabilitymanagement.org
@rolldabones4 ай бұрын
This was an amazing segment. Relevant, practical and useful. Thank you.
@CambsGuyUK5 ай бұрын
A good and succinct summary. The first bucket is key because, as the saying goes, sh!t rolls downhill. Often internal auditors, working to a predefined model, barnstorm in and ask for a risk register and matrix, and board members and executives, keen to get the good rating, then drive that behaviour. If you can't get them onside with changing direction you can spend a lot of time on bucket three and have no time for developing the other two. Looking for allies is key, and they may not come from the obvious directions. Look for people, not necessarily executives, who are looking for ways to make a persuasive argument under challenging conditions - utility savings (where there is lots of volatility) is an obvious area, cyber security is another, and in the modern world, with companies increasingly looking at sustainability, that could be another. Using those examples to leverage acceptance in other, more traditionally risk averse, part of the organisation (legal, finance, health & safety) can be one way of moving the emphasis.
@MotoM0nk5 ай бұрын
it would be great to have links in the RAW bot responses for further reading
@RISKACADEMY5 ай бұрын
Not a bad idea, I will see what can be done
@MotoM0nk5 ай бұрын
Underrated channel
@RISKACADEMY5 ай бұрын
I totally agree )) spread the word
@henriquediniz525 ай бұрын
💡💡💡
@corneliussyangazi46915 ай бұрын
would you recommend any particular organization to attain my certification from.
@RISKACADEMY5 ай бұрын
Describe yourself, your industry, country, objectives
@geangeak48695 ай бұрын
Профессия риск менеджмента в россии мертва, ушел обратно в аудит с ростом
@RISKACADEMY5 ай бұрын
Сейчас в России все профессии мертвы если уж на то пошло, даже в аудите зарплата сейчас не рыночная на мировой арене
@MrSatanizd5 ай бұрын
Сколько же воды....
@RISKACADEMY4 ай бұрын
Сколько? Какой ДИ 90% воды?
@MotoM0nk5 ай бұрын
How can the deep risk analysis be done faster - with the help of AI or are we not there yet?
@RISKACADEMY5 ай бұрын
Some based on historical stats, others based on expert estimates
@oceanontube6 ай бұрын
Alex this cut off I think.. interested in your conclusion 🤔
@RISKACADEMY6 ай бұрын
Sure, watch the full video kzbin.info/www/bejne/eWGsg5uwf9FripI
@CambsGuyUK6 ай бұрын
Very useful and informative video. Sometimes people like me have a tendency to overthink these thinks and make it feel more difficult than it actually is, but this makes it clear, with helpful examples, just how easy it is to get meaningful support from AI rather than just consultancy-driven guff.
@RISKACADEMY6 ай бұрын
Yes, exactly
@JeremyHelm6 ай бұрын
Still using Jiminy Cricket
@spynetgaming22107 ай бұрын
Is the women, ai generated?
@RISKACADEMY7 ай бұрын
Yes and no, it's a model, converted into AI. Still can't convince my wife to record the videos for my channel, maybe one day ))
@olgaorlova21317 ай бұрын
дорогая Елена!Когда-то учились вместе в университете на факультете английской филологии. Как трогательно увидеть тебя по ютуб.
@nihilisthuman67847 ай бұрын
I'd assume after 'looking at the science' one only lowers the risk more than the standards require, right? Because from my perspective (German here) 'standards' are generally significantly over the safety baseline, though there's most likely lots of countries with unsafe standards.. So I get the 'science over standard'.
@RISKACADEMY7 ай бұрын
Risk management standards are different to what you are thinking, they are methodological guidelines with no real impact on the amount of actual risks companies take
@GiangLe-tr9ml7 ай бұрын
Your English has improved significantly since your first days on KZbin
@RISKACADEMY7 ай бұрын
I doubt it, I speak less english now than when I started the channel ))
@fandingkinteh16087 ай бұрын
Hello this is Mr. Kinteh from the Gambia
@JohnEButton8 ай бұрын
I tried to sell my real risk profile to my home insurance group, and they didnt care
@RISKACADEMY8 ай бұрын
You don't know whether you did or not until you calculated your actual risk profile (loss exceedance curve)
@JohnEButton8 ай бұрын
@@RISKACADEMY I'll try with my car insurance company.
@RISKACADEMY8 ай бұрын
Good luck, last time I checked retail insurances like home, car, health were reasonably and quantitatively priced and there was not much value in risk profile. Ot is the corporate and non retail insurances where there is big difference in risk and price