Tag Archives: ALEX SIDORENKO

#451 – 100 AI STRATEGIES THAT WILL TRANSFORM YOUR RISK TAKING SKILLS – ALEX SIDORENKO

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We’ve hit an exciting milestone with the first 100 registrations for RISK AWARENESS WEEK 2024! To me, each registration represents a commitment to advancing risk management and decision-making . And to celebrate, I have prepared 100 ideas AI can transform your company and personal decision making. That’s right. A hundred ideas. Not bs, generic AI-generated empty statements, 100 practical ideas I personally use in my day to day work. From identifying hidden risks to overcoming cognitive biases, these AI ideas will turn your risk taking skills into a superpower. If these are not enough, register for upcoming RAW2024 to hear some of the best global risk managers share their stories. Continue reading →

#399 – UNDERSTANDING RISK PROFILE IS IMPORTANT IN INSURANCE RISK DECISIONS – ALEX SIDORENKO

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In 2021, risk team implemented a quantitative risk-based approach to insurance renewals which resulted in reducing the cost of insurance by 60% and improving the quality of coverage across all insurance lines. This approach allowed us to save, or rather pay a fair price for insurance across the globe. Key to success was not to rely on market “best practices”, but on testing various hypotheses in the market and relying on data. Continue reading →

#398 – ARE YOUR BROKERS COSTING THE COMPANY TOO MUCH MONEY – ALEX SIDORENKO

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In 2021, risk team implemented a quantitative risk-based approach to insurance renewals which resulted in reducing the cost of insurance by 60% and improving the quality of coverage across all insurance lines. This approach allowed us to save, or rather pay a fair price for insurance across the globe. Key to success was not to rely on market “best practices”, but on testing various hypotheses in the market and relying on data. Continue reading →

#397 – AUTOMATING RISK MANAGEMENT – ALEX SIDORENKO

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In the last 2 years my team was involved in automating risk management part for investment decision making, vendor accreditation, market risk, tender process, treasury management, credit risk and project management. That’s 8 different software packages selected from dozens of possible options. In this article I wanted to share some important takeaways from our risk management automation. Continue reading →

#394 – WHAT SHOULD AN AWESOME RISK REPORT LOOK LIKE? – ALEX SIDORENKO

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Companies and regulators love reports, disclosures and transparency. And nobody loves risk reporting more than me. Trouble is risk reports are RM1. If we wanted to really make a difference to decision makers we would switch from risk reporting to risk-adjusted performance reporting instead. Risk managers always have a choice: generate own risk reports or use the outputs of risk analysis to improve existing performance and management reports instead. To me the choice is clear. Integrating risk information into existing management reporting is the future. So, what should risk-adjusted performance report look like? Continue reading →