October 2006 Archives

Amaranth Advisors revealed; The Emperor has no clothes

By Steven Minsky on October 26, 2006 9:53 AM 0

Amaranth Advisors lost roughly $5 billion in a week, and this is from a hedge fund that boasted of world-class risk-management systems. The result is a loss of 50% of the company’s asset base best summarized by this USAToday headline... Read More..

Categories: Enterprise Risk Management, Methodology, Risk Assessment, Risk Identification

The Power of Expert Opinion: A Lesson in Risk Management

By Steven Minsky on October 17, 2006 9:40 AM 1

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The book “Blink” by Malcolm Gladwell is a must read for risk managers. Chapter one opens with the description of the approach used by the J. Paul Getty Museum to perform due diligence on a famous statue’s authenticity prior to... Read More..

Categories: Enterprise Risk Management, Risk Assessment

BP Oil Pipeline Leak: A Cry for Enterprise Risk Management

By Steven Minsky on October 5, 2006 9:25 AM 1

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Whenever there is a disaster or event that causes losses, it is usually proven that someone or several employees in middle management or on the front lines had been forecasting the event years before but no action had been taken.... Read More..

Categories: Enterprise Risk Management, Methodology, Risk Assessment, Risk Identification, Risk Mitigation

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In this blog, risk expert Steven Minsky highlights the differences between traditional risk management and true enterprise risk management, which is about helping things happen rather than preventing them from happening. Manage Tomorrow's Surprises Today is designed to help you think about risk in new ways and learn how to benefit practically from this rapidly evolving field.

Steven Minsky

Steven Minsky is CEO of LogicManager Inc., a leading provider of ERM software solutions. He is the author of the Risk and Insurance Management Society (RIMS) Risk Maturity Model for ERM, RIMS "State of ERM 2008" Report and a RIMS Fellow (RF) instructor on ERM. He is a patent author of risk and process management technology and holds MBA and MA degrees from the University of Pennsylvania’s Wharton School of Business and The Joseph H. Lauder Institute of International Management. You can reach Steven at steven.minsky@logicmanager.com.

Recently Commented On

The Power of Expert Opinion: A Lesson in Risk Management (1)
Joe Gecko wrote: That's a very interesting article. ... [more]
BP Oil Pipeline Leak: A Cry for Enterprise Risk Management (1)
James Taylor wrote: Rolando Hernandez posted a great ar... [more]