5. Four things every risk manager must know - Alex Sidorenko

Alex Sidorenko, lists four things that he believes every risk manager should know. These include understanding the science behind how the human brain works and the cognitive biases that can impact risk perception, developing risk quantification skills, having a background or education that relates to the industry in which the risk manager is working, and being aware of the limitations of commonly used risk management tools. He encourages risk managers to study risk perception and to have a team member with expertise in corporate finance and risk modeling.

I was so excited about shooting this short video that didn't even notice the wind. Sorry about that :)

[ThePeekay]

well articulated..particularly, the emphasis on industry experience or what we call domain knowledge is a must. Risk managers have fanned out from financial sector are not necessarily the best bet for evaluating non-financial sector.

[jdsolomon]

very good.  Wholeheartedly agree with your comments on risk matrices.  Use the 3 alternatives you suggest on a regular basis.  And again you are correct.  they work extremely well.

[alonsoterrones]

Very well said and couldn't agree more. Could you please talk about the best risk management books you suggest in upcoming videos?

[hartleystarkman]

These comments are correct, but if not inherently understood by your risk manager or CRO, then there is your problem...you have the wrong person. Also, just a word of advice, try to make your next video indoors as the "risk" of having wind disrupt most of the video is somewhat of a distraction.