Energy Risk Debates: the influence of risk culture
The panellists examine different risk cultures and discuss the risk manager’s role and influence in creating a risk culture
A company’s risk culture plays a crucial role in determining how risk management is delivered and what value it provides to an organisation.
In this video, the Energy Risk Debates panel stresses that fostering a risk culture is an essential part of a risk manager’s role. The panel defines different models, discusses whether there is an ideal model to strive for and provides tips for creating a risk culture.
Panellists
- Brett Humphreys, head of risk management at environmental markets specialist Karbone.
- Tuncay Pekin, head of risk management at MN8 Energy, formerly Goldman Sachs Renewable Power.
- Federica Strumia, senior director of risk management at sustainable energy services firm, Targray.
1.32 What different risk cultures have you experienced and what different models are there?
4.31 To what extent does the type of organisation determine the risk culture, and to what extent is the risk manager responsible for creating the risk culture?
6.49 What other factors influence risk culture?
8.45 Is the ideal to move away from the defensive control approach to having a risk culture where risk is embedded into decision-making?
12.02 What leeway does a risk manager have to change the risk culture of an organisation?
13.39 What is the optimal balance between operating a policing approach and being a partner to the business?
15.08 What are your top tips for creating a risk culture?
More on Risk management
How geopolitical risk turned into a systemic stress test
Conflict over resources is reshaping markets in a way that goes beyond occasional risk premia
Energy Risk reaction: Venezuela and oil sanctions
Energy Risk talks to Rob McLeod at Hartree Partners about the energy risk implications of the US’s control of Venezuelan oil
CRO interview: Shawnie McBride
NRG’s chief risk officer Shawnie McBride discusses the challenges of increasingly interconnected risks, fostering a risk culture and her most useful working habits
Increasingly interconnected risks require unified risk management
Operational risk is on the rise according to a Moody's survey, making unified risk management vital, say Sapna Amlani and Stephen Golliker
Energy Risk Europe Leaders’ Network: geopolitical risk
Energy Risk’s European Leaders’ Network had its first meeting in November to discuss the risks posed to energy firms by recent geopolitical developments
Energy Risk US Leaders’ Network: tackling volatility
Energy Risk’s inaugural US Leaders’ Network convened in Houston in October to discuss risk management challenges caused by geopolitical upheaval, policy uncertainty and volatility
LNG trading strategies set to change amid major market shifts
The global LNG market is on the brink of significant changes set to alter trading dynamics and market behaviour, say analysts
Why commodity finance is ripe for stablecoin
Digital currency brings cost efficiencies to financing, but its real benefit to commodity firms lies in making huge pools of new capital available, write Jean-Marc Bonnefous and Ronan Julien
