In beginning this series, I am hoping to resume where I last left off on GARP Risk Exchange, the blog post of the Global Association of Risk Professionals.
I do not want to do this on my own – please help create a forum to talk about Risk, make your comments, write your blogs, and otherwise help us maintain an active dialogue; which of course (or the lack thereof) is in many, many ways the key takeaway from the recent / current financial crisis - at least insofar as where did Risk Management itself fail …… in Communication.
Risk Management communication may be about any and all of
- I am my brother’s keeper and coach, catalyst, ambulance driver, cop
- Trust but Verify
- Not just ‘what’, also especially ‘so what’
- Forests and Trees
- If the report were 1 page instead of 10, somebody would read it; and get it
- Judgment and experience, and not just model outputs
- Leave the Greeks alone (they have their own problems!)
Meanwhile, The Time has come …. To talk of many Things …..
We will open up soon on the Financial Reform brouhaha, VaR, Stress-Testing, Liquidity, Capital, the next big crisis, Leverage, Systemic Risk, Operational Risk and a lot more….
Watch this space …. and help fill it !!
Jaidev
www.j-risk.com
Monday, May 24, 2010
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