The Case for a Government Chief Risk Officer (From the Extreme Risk Podcast)

Risk Guide is delighted to bring a very special short episode from the very first series of our Extreme Risk Podcast in collaboration with Runderc.

In this special episode, Alexander Larsen speaks to Mykhailo Rushkovskyi about the need for more Risk Governance at a governmental level in the form of for example a Government Chief Risk Officer which will bring accountability and visibility to how societal and country risk is managed and how risks are considered in decision making. 

The need for resilient countries is becoming more evident by the year and ensuring transition initiatives consider risk is critical to remaining resilient. Over-reliance by the EU on gas from Russia for example has proved a disaster for many countries in the EU. Re-opening of coal mines (despite ESG and environmental targets) indicates how poorly the green transition was thought out in terms of risks and resilience.

And what influence does Leadership play? Alexander highlights an excellent example from Pakistan of strong and positive leadership that can only improve risk culture.

For further information about Mykhailo and his career, you can find the Risk Managers Getting Coffee series on: https://youtube.com/riskguide

You may also find the Extreme Risk Podcast on the most popular platforms:
   ⚪️ Apple podcast
   🟢 Spotify
   🟡 Amazon

Episode Content:

1.00 – Risk Management at Government Level
3.00 – Resilience & Risk-Based Transition Plans
4.20 – The Gold Standard – Pakistan Case Study – Risk Leadership & Culture
7.00 – What is the Role of Risk Management at Government Level
10.00 – Where is Resilience? (Banking, Natural Disasters, Government Budgets)
11.26 – Risk-Based Strategy & Resilience – Norway Case Study – The Norwegian Oil Fund

About the Podcast

The Extreme Risk Podcast is a new podcast that focuses on Crisis and people working under extreme circumstances. The podcast seeks to learn from the few Risk Masters who have experienced extreme events and share it with as many people as possible.

The first series of the podcast are focused on risk management during the largest military conflict in Europe since World War II – the Russia-Ukraine war. Together with Mykhailo, we speak extensively about the lead up to the war, the invasion as well as the months that followed. Undertaking a war risk assessment, preparation for potential scenarios, monitoring, how people reacted and how businesses responded. We also discuss the potential wider ripple effects of the war on the world economy 🌍

For further information about Mykhailo and his career, you can find the Risk Managers Getting Coffee series on: https://youtube.com/c/riskguide and https://riskguide.wordpress.com/2022/02/03/risk-managers-getting-coffee-episode-4-part-1-geopolitics-turmoil-and-a-journey-from-italy-to-ukraine/

All episodes will be released every few weeks here on the Risk Guide website and via our LinkedIn (https://www.linkedin.com/company/risk-guide) and Podcast pages https://extremerisk.buzzsprout.com/ as well as on RUNDERC – https://runderc.com/podcast

Episodes will be released every few weeks here on the Risk Guide website and via our LinkedIn (https://www.linkedin.com/company/risk-guide) and Podcast pages https://extremerisk.buzzsprout.com/

You may also find the Extreme Risk Podcast on the most popular platforms:
   ⚪️ Apple podcast
   🟢 Spotify
   🟡 Amazon

The Russia-Ukraine War series – Episode 4 – The Ripple Effect

The Extreme Risk Podcast – How the Russia-Ukraine war could cause a global ripple effect on countries, societies, individuals and organisations.

Risk Guide is delighted to continue the very first series of our Extreme Risk Podcast in collaboration with Runderc.

In this episode, Alexander Larsen speaks to Mykhailo Rushkovskyi about the potential ripple effects of the war. Looking at what industries are being impacted and what regions could face major risks (from Europe’s energy crisis to an expanding war, through to the Middle East struggling with increased grain and wheat production and potentially facing social unrest). There is an additional focus on resilience with mention to a children’s book focused on resilience called Mr Goose (this can be found at www.mrgooseonline.com

For further information about Mykhailo and his career, you can find the Risk Managers Getting Coffee series on: https://youtube.com/riskguide

You may also find the Extreme Risk Podcast on the most popular platforms:
   ⚪️ Apple podcast
   🟢 Spotify
   🟡 Amazon

Episode Content:

01:00 – What is the Ripple Effect?
02:56 – What scenarios are you considering from a Ukrainian perspective?
05:45 – Reviewing our strategic plans during times of potential uncertainty
07:00 – The various timescales for the end of the war
10:30 – Regions of the world and how they might be impacted by the war
19:20 – The Insurance Role
26:00 – The Risk Appetite
27.45 – Industries Risk and Opportunities from the war
33.20 – Global Economic impact of the war
35:25 – The impact on Society
38:55 – The Individual Responsibility and learning resilience at School
43.00 – Season Wrap Up
44.00 – Long Term Transition and Resilience – The Norwegian Case – Electric Vehicles

About the Podcast

The Extreme Risk Podcast is a new podcast that focuses on Crisis and people working under extreme circumstances. The podcast seeks to learn from the few Risk Masters who have experienced extreme events and share it with as many people as possible.

The first series of the podcast are focused on risk management during the largest military conflict in Europe since World War II – the Russia-Ukraine war. Together with Mykhailo, we speak extensively about the lead up to the war, the invasion as well as the months that followed. Undertaking a war risk assessment, preparation for potential scenarios, monitoring, how people reacted and how businesses responded. We also discuss the potential wider ripple effects of the war on the world economy 🌍

For further information about Mykhailo and his career, you can find the Risk Managers Getting Coffee series on: https://youtube.com/c/riskguide and https://riskguide.wordpress.com/2022/02/03/risk-managers-getting-coffee-episode-4-part-1-geopolitics-turmoil-and-a-journey-from-italy-to-ukraine/

All episodes will be released every few weeks here on the Risk Guide website and via our LinkedIn (https://www.linkedin.com/company/risk-guide) and Podcast pages https://extremerisk.buzzsprout.com/ as well as on RUNDERC – https://runderc.com/podcast

Episodes will be released every few weeks here on the Risk Guide website and via our LinkedIn (https://www.linkedin.com/company/risk-guide) and Podcast pages https://extremerisk.buzzsprout.com/

You may also find the Extreme Risk Podcast on the most popular platforms:
   ⚪️ Apple podcast
   🟢 Spotify
   🟡 Amazon

The Russia-Ukraine War series – Episode 3 – The New Reality

The Extreme Risk Podcast – Adjusting to new opportunities, taking risk, living up to values and mission and developing resilient organisations using risk-based strategies.

Risk Guide is delighted to continue the very first series of our Extreme Risk Podcast in collaboration with Runderc.

In this episode, Alexander Larsen speaks to Mykhailo Rushkovskyi about the new reality of living and working in a state of war. How did people and organisations adapt? what is the importance of being agile and resilient and what opportunities exist in such a reality? Mykhailo uses some great examples of industries that have been created, the importance of values and mission (and living up to them) and the balance between Risk and Reward.

For further information about Mykhailo and his career, you can find the Risk Managers Getting Coffee series on: https://youtube.com/riskguide

You may also find the Extreme Risk Podcast on the most popular platforms:
   ⚪️ Apple podcast
   🟢 Spotify
   🟡 Amazon

Episode Content:

01:45 – How long did Mykhailo expect the war to take?
03:35 – Where did these timelines come from?
06:50 – The importance of considering the other side and culture
09:10 – How do organisations live up to Vision, Mission and Values
13:30 – What is Reputation, and the risks around it?
14:55 – How long has the New Reality existed?
19:50 – A Global Cyber Crisis and Resilience
22:10 – When did people realise there was a new reality? Risk Appetite of the people coming back to Kyiv
23:40 – Risk Appetite – Would you Jump out of an airplane? 
26:39 – Risk and Reward – Quantitative Risk Analysis and Risk Management’s role in decision making
29:30 – Risk Culture, taking risk  and Appetite (the Warren Buffet example)
30:45 – How are people and businesses adapting on the ground?
33:50 – Risk-Based Strategies
35:10 – Types of businesses in the War scenario
37:35 – IT Industry
39:15 – Banking Industry – how did they avoid disruption and stabilise the economy?

About the Podcast

The Extreme Risk Podcast is a new podcast that focuses on Crisis and people working under extreme circumstances. The podcast seeks to learn from the few Risk Masters who have experienced extreme events and share it with as many people as possible.

The first series of the podcast are focused on risk management during the largest military conflict in Europe since World War II – the Russia-Ukraine war. Together with Mykhailo, we speak extensively about the lead up to the war, the invasion as well as the months that followed. Undertaking a war risk assessment, preparation for potential scenarios, monitoring, how people reacted and how businesses responded. We also discuss the potential wider ripple effects of the war on the world economy 🌍

For further information about Mykhailo and his career, you can find the Risk Managers Getting Coffee series on: https://youtube.com/c/riskguide and https://riskguide.wordpress.com/2022/02/03/risk-managers-getting-coffee-episode-4-part-1-geopolitics-turmoil-and-a-journey-from-italy-to-ukraine/

All episodes will be released every few weeks here on the Risk Guide website and via our LinkedIn (https://www.linkedin.com/company/risk-guide) and Podcast pages https://extremerisk.buzzsprout.com/ as well as on RUNDERC – https://runderc.com/podcast

Episodes will be released every few weeks here on the Risk Guide website and via our LinkedIn (https://www.linkedin.com/company/risk-guide) and Podcast pages https://extremerisk.buzzsprout.com/

You may also find the Extreme Risk Podcast on the most popular platforms:
   ⚪️ Apple podcast
   🟢 Spotify
   🟡 Amazon

The Russia-Ukraine War series – Episode 2 – The Invasion

The Extreme Risk Podcast – Evacuation, communication channels, planning routes, recovering business and infrastructure….

Risk Guide is delighted to continue the very first series of our Extreme Risk Podcast in collaboration with Runderc.

In this episode, Alexander Larsen speaks to Mykhailo Rushkovskyi who is based in Kyiv about the invasion itself. Mykhailo shares his experience of evacuating Kyiv, what considerations were needed, what plans he had in place (including routes and petrol stations) and how businesses focused on recovery.

Episode Content:

02:00 – How the invasion started and what were the immediate actions?
04:50 – What are the emotions when something like this happens?
09:04 – What did Mykhailo do when the invasion happened? How did he evacuate?
12:00 – What research and preparation did Mykhailo need in order to prepare?
15:00 – How long did it take to get to safety and to get back to work (and what did that look like?)
22:00 – Mykhailo discusses communications, platforms for communications and rules.
25:00 – How did businesses prepare and what did they expect of staff? What does good plans vs bad plans look like?
31:30 – Importance of Early Warning Signals / Key Risk Indicators in order to focus evacuation
32:38 – Importance of clarity for staff and empowering staff, ensuring they know their roles.
35:15 – What were the key learnings? what would you focus on next time?
39:40 – The importance of testing plans!
41:00 – What did organisations need to focus on from a recovery point of view?

About the Podcast

The Extreme Risk Podcast is a new podcast that focuses on Crisis and people working under extreme circumstances. The podcast seeks to learn from the few Risk Masters who have experienced extreme events and share it with as many people as possible.

The first series of the podcast are focused on risk management during the largest military conflict in Europe since World War II – the Russia-Ukraine war. Together with Mykhailo, we speak extensively about the lead up to the war, the invasion as well as the months that followed. Undertaking a war risk assessment, preparation for potential scenarios, monitoring, how people reacted and how businesses responded. We also discuss the potential wider ripple effects of the war on the world economy 🌍

For further information about Mykhailo and his career, you can find the Risk Managers Getting Coffee series on: https://youtube.com/c/riskguide and https://riskguide.wordpress.com/2022/02/03/risk-managers-getting-coffee-episode-4-part-1-geopolitics-turmoil-and-a-journey-from-italy-to-ukraine/

All episodes will be released every few weeks here on the Risk Guide website and via our LinkedIn (https://www.linkedin.com/company/risk-guide) and Podcast pages https://extremerisk.buzzsprout.com/ as well as on RUNDERC – https://runderc.com/podcast

Episodes will be released every few weeks here on the Risk Guide website and via our LinkedIn (https://www.linkedin.com/company/risk-guide) and Podcast pages https://extremerisk.buzzsprout.com/

You may also find the Extreme Risk Podcast on the most popular platforms:
   ⚪️ Apple podcast
   🟢 Spotify
   🟡 Amazon

Risk Managers Getting Coffee: Episode 6 – The Blockchain Episodes!

Season 1, Episode 6 – Parts 1-3:

Alexander Larsen Meets Paul Edge over Zoom

These Episodes of Risk Managers Getting Coffee were filmed on Zoom with host Alexander Larsen asking Paul Edge about Blockchain Technology. Discussions included what the technology actually is, the benefits it brings as well as how it can be used for Risk Management including securing supply chains, improving fraud and auditing. These videos can be watched alongside the Blockchain Article published by the Institute of Risk Management which can be found here

Part 1 – What is Blockchain

In this episode, Paul Edge and Alexander Larsen discuss how they met, their moves to Portugal and what Paul Edge’s background is and how he found interest in Blockchain technology. Paul explains the basics of what Blockchain is in technical terms and provides some examples.

Episode Content:

00:45 – Paul and Alexander discuss how they met

01:18 – A background to Paul and his Quants education

02:45 – Paul discusses how he got into Blockchain

03:47 – Ethereum changes things for Paul and he discusses why

04:24 – Paul describes what Blockchain actually is

07:55 – A discussion around how businesses currently operate and how Blockchain could change this.

Part 2 – Uses of Blockchain from a Risk Management perspective

In Episode 2, Paul links risk management to Blockchain technology. He explains how Blockchain can provide many benefits to securing supply chains, building transparency and improving numerous risks. Topics include Internal Audit, Fraud Reduction, Competitive Advantage and its application in financial services.

Episode Content:

00:45 – Paul explains how Risk Management can benefit from Blockchain starting with Supply Chain

02:45 – Paul continues by discussing Blockchain in the Financial Services

03:45 – Alexander asks Paul if we really need Blockchain to do a lot of these things. Trust is discussed along with some other aspects

07:05 – Paul discusses how Audit can improve whilst Fraud can be minimised

Part 3 – Weaknesses of Blockchain and Challenges to Implementation

The third episode focuses much more on the challenges to implementation of the technology as well as the current weaknesses. Paul outlines some weaknesses including the need for collaboration (which is challenging at the best of times) and Human Factors. In terms of the challenges to implementation and mass adoption, there are also a few key areas that Paul focuses on which include the Speed, Space and Cost.

Alexander and Paul also discuss the sensitive issue around Environmental Impact, and discuss the use of geothermal power and other green energy, although at the end of the day, there needs to be something of use that comes out of it.

Episode Content:

00:45 – The topic of weaknesses is brought up with a specific focus on the need for collaboration in order for it to work

01:45 – Trust leads on to Human Factors and fraud and potential solutions are discussed

04:00 – Paul explains the importance of Space, Speed and Cost with regards to blockchain information

07:54 – Paul tackles the Green Energy question as well as the environmental impact of Bitcoin

Episodes will be released every few weeks here on the Risk Guide website and via our LinkedIn (https://www.linkedin.com/company/risk-guide) and YouTube pages (https://www.youtube.com/c/riskguide).

Paul Edge

In these episodes, Alexander Larsen met Paul Edge on Zoom.

.

Risk Managers Getting Coffee: Episode 5 – Part 3 – The Dark Art…… (5×5 Matrix, adding value and art vs science)

Season 1, Episode 5 – Part 3:

Alexander Larsen Meets Aarn Wennekers in Qatar and like the others, this Episode of Risk Managers Getting Coffee was filmed in Qatar with Aarn Wennekers speaking about his views on the 5×5 Matrix, how Risk Management should be adding value and the Dark Art that is Risk Management.

Episodes will be released every few weeks here on the Risk Guide website and via our LinkedIn (https://www.linkedin.com/company/risk-guide) and YouTube pages (https://www.youtube.com/c/riskguide).

Episode Content

00:45 – Aarn is questioned by Alexander as to whether Risk Management is adding any value

01:40 – Alexander and Aarn discuss the uses of the Risk Matrix, whether it has any value and what needs to be done going forward

03:50 – Aarn brings in his experience of business continuity and crisis management and why its so important to ensure integration with risk management.

04:50 – Aarn and Alexander debate whether Risk Management is Art or Science… or a mixture of both perhaps…

06:45 – BLOOPERS REEL

Aarn Wennekers

In this episode, Alexander Larsen met Aarn Wennekers in Qatar. The backdrop is the City of Doha. Aarn support teams with a deep contextual understanding of leadership team and performance dynamics gained by coaching and advising 40 multi-cultural, multi-disciplinary Boards and Executive Leadership (C-suite) Teams since 1996 at tech start-ups to a multi-billion revenue fully integrated National Energy conglomerate since 2010.

He has worked for Ministries and government authorities in Governance roles, risk roles as well as audit roles both in Qatar as well as in Canada and has a wealth of experience. His advisory ability at board levels and senior executive levels have allowed him to excel in the companies he has worked in.

The Russia-Ukraine War series – Episode 1 – The Months Leading up to the War

The Extreme Risk Podcast – War Risk Assessment, Business Continuity, Resilience, Key Risk Indicators, Intelligence and Preparation…..

Risk Guide is delighted to present the very first series of our Extreme Risk Podcast in collaboration with Runderc.

The Extreme Risk Podcast is a new podcast that focuses on Crisis and people working under extreme circumstances. The podcast seeks to learn from the few Risk Masters who have experienced extreme events and share it with as many people as possible.

The first series of the podcast are focused on risk management during the largest military conflict in Europe since World War II – the Russia-Ukraine war. Alexander Larsen, together with Mykhailo Rushkovskyi (For more information about his background you can watch his interview on risk managers getting coffee… by clicking here), speak extensively about the lead up to the war, the invasion as well as the months that followed. Undertaking a war risk assessment, preparation for potential scenarios, monitoring, how people reacted and how businesses responded. We also discuss the potential wider ripple effects of the war on the world economy 🌍

All episodes will be released every few weeks here on the Risk Guide website and via our LinkedIn (https://www.linkedin.com/company/risk-guide) and Podcast pages https://extremerisk.buzzsprout.com/ as well as on RUNDERC – https://runderc.com/podcast

Episode 1 is already out and covers the experience of how organisations and people considered their options and various scenarios in order to prepare for the war (War Risk Assessment, Resilience, Business Continuity Plans and Key Risk Indicators)

Episodes will be released every few weeks here on the Risk Guide website and via our LinkedIn (https://www.linkedin.com/company/risk-guide) and Podcast pages https://extremerisk.buzzsprout.com/

Additionally, there are two videos published on Youtube that show the key highlights from the podcast which can be found below:

Russia-Ukraine War – The Months Leading Up To The War – Part 1 – Preparation and War Risk Assessment

Russia-Ukraine War – The Months Leading Up To The War – Part 2 – Key Risk Indicators, Intelligence and Resilience

Mykhailo Rushkovskyi is the Head of Risk Management of the largest Ukrainian private energy holding DTEK, holds MA degree in International Business from Kyiv National University, Ukraine and MBA degree from MIB School of Management, Italy. Mykhailo has over 8 years of experience as a head of risk management function across different sectors such as energy, oil & gas and financial services.

Mykhailo is also a PhD candidate in risk management strategies at Kyiv National University, Ukraine being an author of scientific articles on risk management. An example can be found here: http://baltijapublishing.lv/index.php/gbdej/article/view/1521/1537

The Extreme Risk Podcast

An Introduction to the Podcast

Risk Guide is delighted to present a new podcast in collaboration with Runderc.

The Extreme Risk Podcast is a new podcast that focuses on Crisis and people working under extreme circumstances. The podcast seeks to learn from the few Risk Masters who have experienced extreme events and share it with as many people as possible.

You may also find the Extreme Risk Podcast on the most popular platforms:
⚪️ Apple podcast
🟢 Spotify

From the Russia-Ukraine war to climbing the most dangerous mountains in the world, our guests will share what preparation is needed, what kind of risk assessments and plan B are required and how to constantly monitor any changes in circumstances that could indicate extreme danger

Alexander Larsen, who hosts the show will be meeting guests such as Mykhailo Rushkovkyi who is currently based in Kyiv, and who speaks extensively about the lead up to the war, the invasion as well as the months that followed. Undertaking a war risk assessment, preparation for potential scenarios, monitoring, how people reacted and how businesses responded are just some of the topics covered. He also discusses whats next, what the future holds for both Ukraine as well as the potential wider ripple effects.

Another guest is Marie-Pier Desharnais from Canada, an expert in business continuity and resilience who introduces us to the world of mountain climbing and discusses her experiences reaching the summit of Everest and some of the other most challenging mountains in the world, how she plans, understands risk, remains resilient in the face of danger and manages complacency and stress.

Episodes will be released every few weeks here on the Risk Guide website and via our LinkedIn (https://www.linkedin.com/company/risk-guide) and Podcast pages https://extremerisk.buzzsprout.com/

Risk Managers Getting Coffee: Episode 5 – Part 2 – (Where should the ERM department sit – What makes a great Risk Manager!?)

Season 1, Episode 5 – Part 2:

Alexander Larsen Meets Aarn Wennekers in Qatar

This Episode of Risk Managers Getting Coffee was filmed in Qatar with host Alexander Larsen asking Aarn Wennekers about where an ERM Department should ideally sit within an organisation. Other discussions include aspects of how to effectively motivate and engage staff as well as what makes a GREAT Risk Manager.

Episodes will be released every few weeks here on the Risk Guide website and via our LinkedIn (https://www.linkedin.com/company/risk-guide) and YouTube pages (https://www.youtube.com/c/riskguide).

Episode Content

00:45 – Aarn talks about where the Risk Management department should sit within an organisation.

01:45 – Aarn discusses what the strengths of a Risk Manager should be and how important industry or understanding a company is.

03:35 – Aarn explains the importance of keeping it simple with regards to language and how it allows him to connect with people.

05:26 – The importance of teamwork, partnerships bonus structures is discussed with regards to effective Risk Management

07:37 – Aarn discusses customer service companies like Starbucks and how their recognition approach could add value to Risk Management

Aarn Wennekers

In this episode, Alexander Larsen met Aarn Wennekers in Qatar. The backdrop is the City of Doha. Aarn support teams with a deep contextual understanding of leadership team and performance dynamics gained by coaching and advising 40 multi-cultural, multi-disciplinary Boards and Executive Leadership (C-suite) Teams since 1996 at tech start-ups to a multi-billion revenue fully integrated National Energy conglomerate since 2010.

He has worked for Ministries and government authorities in Governance roles, risk roles as well as audit roles both in Qatar as well as in Canada and has a wealth of experience. His advisory ability at board levels and senior executive levels have allowed him to excel in the companies he has worked in.

Risk Managers Getting Coffee: Episode 5 – Part 1 – (From Canada to Qatar and what its like working in Qatar )

Season 1, Episode 5 – Part 1:

Alexander Larsen Meets Aarn Wennekers in Qatar

This Episode of Risk Managers Getting Coffee was filmed in Qatar with Aarn Wennekers speaking about his career from Oil and Gas in Canada to getting an education in a field that interested him before moving to Qatar and progressing from Audit to Governance and Risk Management.

Episodes will be released every few weeks here on the Risk Guide website and via our LinkedIn (https://www.linkedin.com/company/risk-guide) and YouTube pages (https://www.youtube.com/c/riskguide).

Episode Content

00:45 – Aarn talks about being a jack-of-all trades. He speaks about his History degree and early jobs and how that set him up for his career.

02:35 – Aarn discusses joining QP in Qatar and how improvements in Audit led to governance involvement and eventually to risk management for minister of energy.

03:50 – Aarn brings in his experience of business continuity and crisis management and why its so important to ensure integration with risk management.

04:25 – Aarn discusses his experience of working in Qatar and realising its such a multicultural place to work and as a result people need to adapt to this. He also discusses the nature of Qatari’s and how safe the country is

05:25 – The Institute of Risk Management has an active group in Qatar, one that is impressive and Aarn discusses why he believes the group is so successful

In this episode, Alexander Larsen met Aarn Wennekers in Qatar. The backdrop is the City of Doha. Aarn support teams with a deep contextual understanding of leadership team and performance dynamics gained by coaching and advising 40 multi-cultural, multi-disciplinary Boards and Executive Leadership (C-suite) Teams since 1996 at tech start-ups to a multi-billion revenue fully integrated National Energy conglomerate since 2010.

He has worked for Ministries and government authorities in Governance roles, risk roles as well as audit roles both in Qatar as well as in Canada and has a wealth of experience. His advisory ability at board levels and senior executive levels have allowed him to excel in the companies he has worked in.