Energy Risk Debates: the influence of 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?