2023 Fintech and Financing Conference & Expo

Fintech Fridays EP58: Using Risk Management to Improve Your Business and Life

About NCFA Canada | Craig Asano | Oct 14, 2022

FF S4EP58 Alex Sidorenko Risk Management 1000 - Fintech Fridays EP58:  Using Risk Management to Improve Your Business and Life

Oct 14, 2022: NCFA's Fintech Fridays podcast episode 58

Using Risk Management to Improve Your Business and Life

Featured Guest:

Alex Sidorenko, CEO and Chief Risk Officer / Founder, Risk Academy / Risk Awareness Week (LinkedIn)

Experienced executive across strategic, investment and operational risks and insurance working within multibillion dollar corporations in Australia, GCC and Europe. Successfully implemented changes to quantitative risk analysis, risk-based decision making and neuroscience.   Saved more than $13 million per year in premiums on cargo and PD/BI insurance through industry leading quantitative risk analysis without changing deductibles or limits. Successfully presenting corporate risk profile at the Ministry of finance and helping secure more than $1B in extra funding.  Author of the most popular free risk management book in the world, more than 150K downloads in 3 languages. Risk manager of the year, FERMA, 2021, Honourable mention 2021, RIMS. Risk manager of the year, RUSRISK, 2014, Best ERM Implementation, RUSRISK, 2014, Best risk management training, RUSRISK, 2013, 2014, 2015, finalist in risk management awards in 2018 and 2019.

YOUTUBE: https://www.youtube.com/channel/UCog9jkDZdiRps2w27MZ5Azg
BLOG: https://riskacademy.blog

 

On Now --> RISK AWARENESS WEEK  |  Oct 17 to 21, 2022

Risk Awareness Week takes place from Oct 17 to 21, 2022 is the biggest global online platform to learn risk management and decision making. Use RAW2022 to learn from practical case studies on integrating risk management into corporate decision making, planning, budgeting, project management and risk-adjusted performance management.  Learn more

About this episode:

For anyone who needs to make complex decisions or wants to add more clarity into their lives by applying modern risk management techniques, then this one is for you. Join NCFA Founder, Craig Asano, who sits down with Alex Sidorenko, the CEO and Chief Risk Officer of the Risk Academy and Founder of Risk Awareness Week, one of the largest risk management conference programs in the world.  They discuss the commoditization of science, horoscope fairy tales, beating the bear and how intuition may not always be your best friend (in some scenarios).  Understand the difference between risk management for ‘box tickers’ vs modern techniques, generators vs users, virtual data, and how to think about risk management to electrify decision-support for any problem in your business or life.  Enjoy!

Duration:  69mins

 

00:00:00 Introduction
00:02:10 About Alex Sidorenko | Why risk management?
00:05:06 Risk Academy
00:10:00 Risk Awareness Week Oct 17 to 21, 2022
00:14:01 History of risk management
00:15:48 Commoditization of science
00:17:18 Horoscope fairy tales
00:19:46 R1 vs R2
00:21:32 Differentiation
00:24:39 Quantifying risk and key decisions
00:26:05 Fallacy of intuition
00:28:53 Unpacking uncertainty
00:30:40 The nature of risk
00:33:44 Right tool for the job
00:35:04 Adding clarity to complex decisions
00:38:42 Electricity and probabiity theory
00:40:18 Generators vs users
00:43:44 Beating the lottery with math
00:46:37 Autonomous algorithms
00:49:29 Beat the Bear fallacy
00:50:59 Signifiance and practacality
00:53:56 Decision-support and profit
00:55:41 Future outlook
00:56:22 Backtesting
00:57:31 Risk matrix issues
00:59:03 Synthetic data
01:00:30 Free risk management book
01:04:14 Rapid fire questions
01:05:47 Yourself in 5-10 years?
01:06:36 Comfort in your decisions
01:08:23 Thank you and close

 

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NCFA Jan 2018 resize - Fintech Fridays EP58:  Using Risk Management to Improve Your Business and LifeThe National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

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