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When Clifford Rossi, a veteran of several senior risk management positions, joined Citigroup in 2007, he was told “per the general counsel’s office” to have “no contact” with an officer tagged as a...
August 30, 2024 | By L.A. Winokur
Risk managers are professionally inclined toward full honesty. After all, deception – whether intended for good or ill – is at the heart of many disasters. Telling people what they want to hear, or...
August 18, 2023 | By Aaron Brown
In times of great volatility and uncertainty, there are no excuses for poor risk management. While there are plenty of risk culture and modeling success stories, tales of failure are the ones that...
April 21, 2023 | By John Thackeray
Public perception that financial institutions are driven by greed and willful blindness has recently been reinforced by a seemingly never-ending litany of scandals. This impression of failure is a...
December 17, 2021 | By John Thackeray
The global crisis of 2008, combined with academic work in behavioral economics, has sensitized the financial industry to the human element in catastrophic events. As MIT finance professor Andrew Lo...
November 19, 2021 | By Katherine Heires
It's one thing for CEOs to be outspoken about business. It's their bailiwick. It's quite another when they speak out on social issues, opening themselves up to criticism that it is not directly...
July 16, 2021 | By L.A. Winokur
Behavioral and cognitive science, a mainstay in economics based on the work of Nobel laureate Daniel Kahneman and others, is wielding greater influence in various areas of risk management. A growing...
July 9, 2021 | By Katherine Heires
Gains in gender diversity, among other inequality issues getting high-level policy attention before COVID-19 struck, have been set back since. It is a harsh reality now being faced in India, one of...
July 2, 2021 | By Nupur Pavan Bang
Risk experts say it's a sign of the times. Companies and other institutions have been finding themselves facing - or being forced to face, depending upon how one looks at it - a ramped up and long...
December 18, 2020 | By L.A. Winokur
In a 2015 report, The Power of Parity, McKinsey & Co. concluded that if women fully participated in the world economy, global GDP would increase $28 trillion by 2025. India alone could account for...
October 9, 2020 | By Sai Nitya Bodavala and Nupur Pavan Bang
The version of capitalism that has dominated global markets for the last half century is being rightfully questioned as never before. Whilst over a billion people have been pulled out of poverty over...
September 27, 2019 | By Bertrand Piccard
A decade since the financial crisis began to subside, “the system is basically OK,” Andy Agathangelou says. But it still “needs to be fixed.” Agathangelou in 2015 formed the Transparency Task Force...
September 27, 2019 | By Ted Knutson
With total assets under management now in excess of $3 trillion, private equity has grown from a cottage industry into a substantial percentage of the global capital markets. With maturity comes...
September 13, 2019 | By Steve Wiesner
In his victory speech on May 23, 2019, India's newly re-elected prime minister, Narendra Modi, said that “from now on, India will only have two castes: the poor and those that want to remove...
June 28, 2019 | By Sai Nitya Bodavala and Nupur Pavan Bang
It is well within the reach of companies to make the effort to ensure that there are more women in leadership positions, and that those who are receive sufficient support to flourish at their jobs....
June 14, 2019 | By Sai Nitya Bodavala and Nupur Pavan Bang
To be or not to be a whistleblower? Forget money laundering, tax evasion and ransomware. Do something legal and rewarding, become a whistleblower, and you could receive millions, all tax free. The...
May 3, 2019 | By John Thackeray
The managing director of the International Monetary Fund commands attention when she speaks about the global economy. The financial world took notice April 2 when Christine Lagarde titled a speech to...
April 12, 2019 | By Ted Knutson
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