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This week in history - volcanos, hurricanes, and the risk of Black Swans

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2008-08-28 11:07:47 by Chris McClean in Security & Risk Management
...risks, regulations, taxonomies, and technologies can sometimes give us a narrow view of the world, so it seems worthwhile to take a minute to mark the 125th anniversary of the cataclysmic eruption of Krakatoa this week. For those of us that want to think big but cant remember that far back, this week is also the 3rd anniversary of Hurricane...
 
Tags: similar events, events, black swan events, black swan, plan, crisis management plan, week, colleague stephanie balaouras, argues
 
 
 
 
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What Are You Managing Towards? (And On Disproving Risk Management)

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2008-06-03 14:41:11 by Alex in RiskAnalys.is
...Risk Management Process. Three quick things to anyone who has read it and is visiting our blog for the first time We dont believe that the goal of Quantitative Risk Analysis is to be precise. We believe the goal is to be accurate. Subtle but important difference FAIR can be used both Quantitatively and Qualitatively. The decision on which...
 
Tags: management, risk management, term risk management, management focuses, management approach, risk management process, patch management, cost management, upper management
 
 
 
 
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Risk Preferences in Chimpanzees and Bonobos

2008-04-17 06:20:51 by schneier in Schneier on Security
 
...risk. People tend to be risk averse when it comes to gains, and risk seeking when it comes to losses: Evolutionarily, presumably it is a better survival strategy to -- all other things being equal, of course -- accept small gains rather than risking them for larger ones, and risk larger losses rather than accepting smaller losses. Lions chase...
 
Tags: risk preferences, risk, relative risk preferences, risk-prone behaviour, approach, people approach risk, people, losses, risk larger losses
 
 
 
 
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Risk Management and Analysis Standards Update

2008-06-17 16:51:27 by Alex in RiskAnalys.is
 
...Risk Management, and RMI has a new website CISCO WEBINAR UPDATE First, Jacks Webinar with Cisco is Thursday . If you were lucky enough to get a slot, be sure to catch it. If you didnt get a slot but would like to still go, let me know (info at riskmanagementinsightdotcom - subject Webinar RISK MANAGEMENT STANDARDS AND FAIR Second, The Open...
 
Tags: risk management, risk management departments, risk management effort, standards, risk, risk management efforts, risk management issues, security standards, risk management standards
 
 
 
 
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Do you use Bloomberg for Risk Measurement?

2006-08-07 03:41:00 by Jomni in Risk Management Quant
 
...Risk Seminar this month. But before the details, here are my comments I've attended Bloomberg seminars before and there is usually a sales pitch somewhere. Looking at the event's lineup of speakers, 4 out of 5 speakers are from Bloomberg (an Algo risk solution is embedded in Bloomberg). Although the topics may sound relevant, they're just...
 
Tags: bloomberg, bloomberg users, trust bloomberg, bloomberg seminar, bloomberg seminars, bloomberg functionalities, details, seminar details, seminar
 
 
 
 
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Is Risk Management a People Problem?

2008-03-10 15:45:47 by Alex in RiskAnalys.is
 
...risk and how organizations can become more effective. Weve been thinking very hard about metrics and measurement and governance and compliance and assurance and so on and so forth. And one thing hit me funny today within that context, its the mention of the axiom Security is a People Problem In his article, What can CISOs learn from the...
 
Tags: risk management, risk, people, risk management issue, impacts people, security, security technology, risk tolerance, people lessons
 
 
 
 
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Making Risk Measures Agree with Accounting 100%

2006-12-26 05:27:00 by Jomni in Risk Management Quant
 
...risk software to compliment financial reporting (accounting). Instead of being used solely by the risk department, even financial controllers use it. This is due to the current trend of making financial reporting reflective of the firm's economic value based on the risks it is taking ( IAS 39 and even Basel II). As a consequence, they expect...
 
Tags: risk, risk software, software, risk measurement, values, exact market values, exact, exact cent, cent
 
 
 
 
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IT Risk Management

2008-03-28 13:09:26 by Marc Othersen in Security & Risk Management
 
...risk management is a nebulous topic at best. There are many different ideas as to what risk means and how it should to be applied within an IT organization. In an effort to bring some consistency and clarity to this discipline, Forrester is developing an IT risk management framework. Once developed, the framework will help IT organizations...
 
Tags: risk management, risk, risk management framework, risk events, major risk, risk assessment, key risk indicators, framework, risk response
 
 
 
 
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Communicating about risk - part 2

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2008-05-20 16:22:24 by JonesJ in RiskAnalys.is
...risk. On one axis we have Impact, and on the other we have Likelihood. Well save a discussion regarding Impact for another post, but in this post Id like to point out a couple of subtle but important limitations with the term likelihood Likelihood connotes the probability of an event occurring. In fact, you may see explicit probability...
 
Tags: risk, managements risk tolerance, enterprise risk tolerance, risk tolerance, likelihood, risk analysis, likelihood connotes, lines, likelihood statement refer
 
 
 
 
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Risk Management Lessons from the Mortgage Meltdown

2007-12-14 16:54:17 by Chris McClean in Security & Risk Management
 
...risk management professionals know, and should keep in mind as often as possible Accepting risk can offer substantial competitive advantages. While some argue that Goldman Sachs got lucky on many of its assumptions, the company has a history of aggressive, intelligent risk taking. The lesson here, whether evaluating investments, business...
 
Tags: risk