#190 – WALKING ON SHIFTING SANDS IN THE AGE OF UNCERTAINTY – GEARY SIKICH

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Untitled1-150x150 “To do something very dangerous takes a certain lack of imagination
 – Anonymous

Introduction

Governments and companies worldwide are emerging from the current financial crisis and subsequent recession.  While governments are crafting new regulations, businesses around the world are walking in shifting sand as risk exposures are high and new regulations will create compliance challenges.  According to a recent survey by Korn/Ferry International, corporate leaders are focusing more attention on risk management after what is considered by many to be excessive risk-taking during the boom times that factored into the global financial crisis. Continue reading

#189 – BLACK SWANS, SHAPESHIFTERS, AND FLEXIBILITY – GEARY SIKICH & JOHN M. STAGL

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Untitled1-150x150It’s all about targeted flexibility, the art of being prepared, rather than preparing for specific events.  Being able to respond rather than being able to forecast, facilitates the ability to respond to the consequences of an event.

Perspective

It seems that there many experts today who are jumping on the bandwagon and laying claim to some aspect of, or permutation of, the “Black Swan” concept.  I recently read about someone claiming to be a “Master Black Swan Hunter.”  Continue reading

#185 – WHAT IS COLLATERAL RISK? AND WHY SHOULD WE BE WORRIED ABOUT IT?- GEARY SIKICH

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Untitled1-150x150Introduction

The Law Dictionary defines Collateral Risk as:

The RISK of loss arising from errors in the nature, quantity, pricing, or characteristics of COLLATERAL securing a transaction with CREDIT RISK.  Institutions that actively accept and deliver collateral and are unable to manage the process accurately are susceptible to loss.  A subcategory of PROCESS RISK. Continue reading

#184 – DEVELOPING RECOVERY PROGRAMS: WHAT CAN WE LEARN FROM HURRICANES IRMA AND HARVEY – GEARY SIKICH

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Untitled1-150x150Worst Case Scenarios

When planning for disasters we often time opt for “worst case” scenario plans.  Yet, time and again we are surprised when the “worst case” based plan that has been developed is superseded by an actual event that occurs.  Hurricane Katrina taught this lesson.  Will we be going back to school to learn the same lessons from Hurricane Harvey and Hurricane Irma?  And, Hurricane Jose is coming in on the heels of Irma. Continue reading

#183 – CONSEQUENCES OF INTERNATIONAL CONFLICT: NORTH KOREA VS. THE UNITED STATES – GEARY SIKICH

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Untitled1-150x150On the Path to Probability and Uncertainty?

Is the current situation with the Democratic People’s Republic of Korea on your radar screen as a business continuity planning consideration?  Is this situation a realistic risk that your planning should begin to address with a thorough analysis of the potential consequences of an escalation?  What about the situation in Syria?  Ukraine?  Iran?  India/Pakistan?  Or are these risks too far away and remote to begin to understand? Continue reading