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

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

Risk Managers Getting Coffee: Episode 4 – Part 3 (An amazing experience of Bahrain and the importance of Tone at the Top )

Season 1, Episode 4 – Part 3:

Alexander Larsen Meets Mykhailo Rushkovskyi in Bahrain

Mykhailo explains What he would like to see change in Risk, specifically in less mature markets, where the focus should be tone from the top and how to achieve this. His focus is a try, try and try again approach. He also outlines his amazing experience of Bahrain as a country and its people and how welcoming they were.

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 #Changingrisk: Mykhailo the importance of tone from the top and how to engage top management in order to push Risk Management across the organisation.

4:00 First time in Bahrain: Mykhailo shares his story about his first experience in Bahrain. He explains the kindness and welcome he received by his Bahraini colleague who was attending the training and how this experience differs from Europe. 4 – Part 2 – Overview:

In this episode, Alexander Larsen met Mykhailo Rushkovskyi in Bahrain. This happened during an Institute of Risk Management Training Course that Alexander was running, specifically around Oil and Gas which was Mykhailo’s industry.

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

Risk Managers Getting Coffee: Episode 4 – Part 2 (Risk Management and the Economy of Ukraine )

Season 1, Episode 4 – Part 2:

Alexander Larsen Meets Mykhailo Rushkovskyi in Bahrain

“Ukraine is People” – Mykhailo Rushkovskyi

Mykhailo explains Risk Management maturity in Ukraine, what drives it, as well as the Ukraine economy. His passion also shines through as he discusses what Ukraine is all about, as well as the skiing resorts that are increasingly popular.

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 4 – Part 2 – Overview:

00:45 Risk Management in Ukraine: Mykhailo explains which industries currently have risk management, where it has grown from and what kind of maturity levels they are.

2:00 Risk Managers in Ukraine: Mykhailo discusses whether there are many risk managers in Ukraine yet or not and what the drivers for employing risk managers are.

3:40 Ukraine – Having never visited Ukraine, I was keen to understand more about it. Mykhailo shares his views on what makes Ukraine, some history, relations with Russia and some facts about the country and Kyiv. His passion shows through.

5:05 Ukraine Economy and change – A discussion about various industries, hosting events like the Champions League and even their Skiing resorts

In this episode, Alexander Larsen met Mykhailo Rushkovskyi in Bahrain. This happened during an Institute of Risk Management Training Course that Alexander was running, specifically around Oil and Gas which was Mykhailo’s industry.

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

Risk Managers Getting Coffee: Episode 4 – Part 1 (Geopolitics, Turmoil and a journey from Italy to Ukraine)

Season 1, Episode 4 – Part 1: From Italy to the Ukraine

Alexander Larsen Meets Mykhailo Rushkovskyi in Bahrain

Mykhailo shares his fascinating story of how he ended up working in the Ukraine as a Chief Risk Officer at the age of only 26, having taken an interesting path through Italy and the Czech Republic. During this episode we also discuss the unfortunate events that unfolded when he went back to the Ukraine, a time of great uncertainty, but as Mykhailo says, also a time of great learning for any risk or crisis 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 4 – Part 1 – Overview:

00:45 Mykhalio Introduction: Mykhailo introduces himself, his background and position at the time and the reason he finds himself in Bahrain.

2:00 Mykhailo’s Early Years: Mykhailo discusses his business background and Education and eventual decision to move internationally to gain experience. It took him to Italy for an MBA course before being invited as an intern with Generali and eventually moved to Prague. Eventually this experience took him back to Ukraine.

3:40 Ukraine: Geopolitics – A Turbulent Time: Mykhailo outlines his move to Ukraine and the turbulence that was happening in his home country. Geopolitics played a strong role with an EU decision suddenly not going ahead. It was Modern History playing out and an incredible learning process for any Risk Manager.

5:54 Chief Risk Officer at the age of 26/27: Incredibly, with his education, knowledge and experience of managing risks through turbulent times, he discusses the role he took as CRO at only the age of 26.

In this episode, Alexander Larsen met Mykhailo Rushkovskyi in Bahrain. This happened during an Institute of Risk Management Training Course that Alexander was running, specifically around Oil and Gas which was Mykhailo’s industry.

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