Wednesday, 8 July 2009
Takeaways from Risk Management and Valuation Conference
Quelquefois, pointing out issues and problems for a particular area, c'est tres facile et beaucoup vont avoir trop d'opinions. Mais, si il y a des solutions ou non? si la personne qui la propose avec la solution ou non? On ne sais pas. and in most of the cases, answer is no.
As compared to Compliance, Risk Management could be mistaken to be doing to same thing if you dont look at it carefully. One trying to meet the regulatory guidelines and the other doing something that needs to obey by the guidelines. The thin line (perhaps not so thin) between these two is Risk Management is about communication (allow me to quote from Dr. Frank Ashe), telling people what actions need to be done. A proactive action. Compliance, is more like a push-then-move kinda thing. Anyway, my point is. Most of the time, ppl (general ppl regardless from compliance or risk management except those diehard risk manager) just do the bare minimum for the compliance sake, the risk culture/mindset is just not there yet. (Though somoetimes, it's because of the big environment that forces them to do so). For humans who love peace tranquility i.e. dislike changes, they will never appreciate Risk management before anything strikes on them.