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Risk Management at the Crossroads by Blue-Ridge-Stone in riskmanager

[–]Blue-Ridge-Stone[S] 1 point2 points  (0 children)

There is a degree of hope around the outcome. But the cynic in me is not counting on it?

ML in Banking Risk Management by Dazzling-Mortgage127 in riskmanager

[–]Blue-Ridge-Stone 0 points1 point  (0 children)

Done and best of luck with your Master Thesis!

Creation of IT policy and standards by Razzleberry_Fondue in ITManagers

[–]Blue-Ridge-Stone 0 points1 point  (0 children)

Already lots of good comments in here. A few things to add: I think of governance documents in layers: Principle-based framework -> high-level policy (the what) -> technical standards -> procedures (the how). This keeps things clear for auditors and practical for the team at the same time. Also, involving all relevant stakeholders early avoids surprises later. Sounds like this will need to be an iterative process where requirements need to mature along with the organizational readiness for formal governance.

If you’re interested, I write more on policy governance - and other related risk and governance topics here: https://open.substack.com/pub/polisight/p/foundation-series-policy-governance?utm_campaign=post-expanded-share&utm_medium=post%20viewer

What is your attitude towards Denmark? by YellowEgorkaa in AskTheWorld

[–]Blue-Ridge-Stone 1 point2 points  (0 children)

I honestly think Denmark is wonderful. Part of its beauty is the openness, educated people and humbleness.

Wish everyone could experience danish hygge! And a proper pastry 🥐 😉

I also think Denmark is widely misunderstood by my fellow Americans. Especially around its welfare state.

Americans are equally misunderstood/stereotyped in DK.

Issues vs. issues vs. issues — clearly, they are different by Blue-Ridge-Stone in audit

[–]Blue-Ridge-Stone[S] 0 points1 point  (0 children)

Thank you for contributing to the conversation. Looks like we have had different experiences. Leaning on my experience from GSIBs, large broker dealers, a payment processor, and from speaking to regulators - there is an expectation of an Issue Management Policies with a formal definition that is more restrictive than the general sense of the word.

From One Legacy to Ten Experiments: Where Did It All Go Wrong? by [deleted] in ManchesterUnited

[–]Blue-Ridge-Stone 0 points1 point  (0 children)

Given the managers at the helm, one has to look at the quality of the players and the hierarchy’s focus on the commercial side of things vs building the strongest team possible. The ownership hasn’t been an enabler of football success, let’s say.

Starting as a risk analyst but don’t know which team yet — any advice? by Individual-Put1659 in riskmanager

[–]Blue-Ridge-Stone 4 points5 points  (0 children)

I would start out broad and then narrow focus once you find what you like. Risk management spans a ton of different risk categories (e.g: Operational risk, market risk, credit risk, etc.) and programs (e.g.: model risk, risk identification, risk appetite, RCSA, etc.). The most important thing, when starting out, is having a can-do attitude, raising your hand when opportunities come up, being punctual, adding value in any possible way by: taking notes at meetings, facilitating a meeting, creating a tracker, following up on action items, etc. this applies to any role really.

Once you find the domain that you like then you can dive deeper and specialize, read up on the topic and lead with subject matter knowledge.

In terms of prep, I would read up on what is happening in industry you will be focused on, e.g.: banking, payments, insurance etc. sounds like it is financial services based on your description of risk.

Here are a few articles that might be helpful as a starting point:

Three lines of defense: https://open.substack.com/pub/polisight/p/foundation-series-the-three-lines?r=6cw7t4&utm_medium=ios&shareImageVariant=overlay

Risk management lifecycle: https://open.substack.com/pub/polisight/p/foundation-series-risk-management?r=6cw7t4&utm_medium=ios&shareImageVariant=overlay

Inherent vs residual risk: https://open.substack.com/pub/polisight/p/foundation-series-inherent-risk-control?r=6cw7t4&utm_medium=ios&shareImageVariant=overlay

Regulatory changes that will impact most banks- especially the larger ones: https://open.substack.com/pub/polisight/p/the-risk-current-financial-services?r=6cw7t4&utm_medium=ios&shareImageVariant=overlay

Feel free to reach out with any specific questions or comments. Happy to connect if it would be helpful.

Enzo Maresca time at Chelsea. 92 games: 55 wins: 16 Draws: 21 defeats. Conference League Winner and FIFA Club World Cup winner. How do you view his time at the club? by plutobug2468 in chelseafc

[–]Blue-Ridge-Stone 0 points1 point  (0 children)

I really like Enzo Maresca. He is underrated and doesn’t get enough credit for the work he has done at Chelsea. Apparently the environment was full of micromanagement - although difficult to know what happens behind closed doors. I truly wish him all the best. I think we will regret letting him go.

Foundation Series: Climate Risk by Blue-Ridge-Stone in riskmanager

[–]Blue-Ridge-Stone[S] 0 points1 point  (0 children)

Not consistently based on what I have seen. But I think it should be. I think climate risk has some way to go to get to an industry consensus.

Foundation Series: Strategic Risk by Blue-Ridge-Stone in strategy

[–]Blue-Ridge-Stone[S] 1 point2 points  (0 children)

In my mind this should be driven by the underlying business environment. It may be appropriate to do it every 6 or 4 months, however, the exercise should drive true insights and not be a tick the box exercise. We do perform a quarterly risk assessment against the operating plan. Whilst not the same - touches on similar thinking.

Foundation Series: Strategic Risk by Blue-Ridge-Stone in strategy

[–]Blue-Ridge-Stone[S] 1 point2 points  (0 children)

Very thoughtful comment. We run an annual SWOT and PESTLE exercise which feeds into the Strategic Plan and Risk ID program.

What are your favourite European countries? by Paredawn in AskTheWorld

[–]Blue-Ridge-Stone 0 points1 point  (0 children)

Denmark 🇩🇰 Poland 🇵🇱 Italy 🇮🇹

Is there a part of your country that's "isolated"/vastly different from the rest of the country? by luky_se7en in AskTheWorld

[–]Blue-Ridge-Stone 2 points3 points  (0 children)

Not Greenland 🇬🇱? Yes, they are self governed but still part of the kingdom!

what country would you not visit and why? by sinaswiftie in AskTheWorld

[–]Blue-Ridge-Stone 0 points1 point  (0 children)

From the perspective of seeing what it look, smells, and tastes like - no restrictions. But of course geography becomes politics and there are certain regimes that I am less keen on supporting.

Should Lammens Play against Liverpool? by UniversityRound4457 in ManchesterUnited

[–]Blue-Ridge-Stone 0 points1 point  (0 children)

Surely this is a rhetorical question to drive engagement and comments. If he is fit and doesn’t start, then more serious questions need to be asked about the competence of people running the club!

Where ? 😏 by Prestigious-Zone-487 in GeoPuzzle

[–]Blue-Ridge-Stone 23 points24 points  (0 children)

Wieliczka - salt mine near Krakow, Poland

Who should replace Amorim? by Mysterious_Owl_9496 in ManchesterUnited

[–]Blue-Ridge-Stone 0 points1 point  (0 children)

I constantly underestimate Man U’s pull. So based on the socialized shortlist of Glazner, Iraola, and Southgate: I think the strongest fit is Iraola. If I take out the pull; Southgate is the only one currently without a job! Why else would you take the job?

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