What lies beneath: attention lessons for risk managers
Allowing seemingly irrelevant problems to fester can lead to catastrophe
Few accidents have left a more pertinent imprint on recent history than the sinking of RMS Titanic in April 1912. The story has been told and retold in books, songs, movies and academic dissertations. It seems that with each retelling new facts spring from the depths of the Atlantic, even more than a century after the event.
Every engineer knows that most serious industrial accidents cannot be attributed to a single cause: they happen through a cascade of related, self-reinforcing events. This
More on Risk management
Energy Risk at 30: Learning from the past
Energy Risk looks back at the seminal events and developments that have shaped today’s energy markets
Past disasters can prove the value of energy risk management
Analysing failures and losses at energy firms can underscore the value of consistent, high-quality risk management
How quants shaped the modern energy markets
The business models of today’s utility firms are built on quantitative analysis, but the introduction of these techniques in the 1990s was far from smooth
Interview: Vince Kaminski
Market veteran Vince Kaminski discusses the biggest risks to energy firms today and whether risk teams can ever prove their value
Mounting risk prompts refocus on integrated energy risk management
Energy firms are facing heightened risk due to shifting geopolitics, climate change and the energy transition. As market, credit and enterprise risks ramp up, the need for improved integrated risk management is growing, say risk managers
Energy supply chains seen as a growing risk
Supply chain risk is now a major concern, with some firms even viewing it as an existential threat, survey finds
Can behavioural science curb rogue traders… and compliance costs?
Instead of using surveillance to catch endless bad apples, experts urge banks to clean the barrel
Former regulator urges new approach to AI explainability
Ex-OCC chief Michael Hsu suggests shift from academic analysis to decision-based techniques
