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A better way to manage risk
The risk management approaches used by many organizations haven’t effectively mitigated crucial risks. BP made safety a top priority, only to be involved in one of the worst man-made disasters in...
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Five house rules for managing risky behavior
If risky behavior can happen at the house of Morgan under the watchful eyes of Jamie Dimon, it can happen anywhere. It comes with the territory of employing people. I recall a study conducted by the...
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Data: One antidote to risky behavior
Every large financial services company has instituted risk management, but that hasn’t prevented risky behavior in the form of office politics and personality conflict — as the JPMorgan trading debacle...
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How could I miss that? Jamie Dimon on the hot seat
It’s easy to assume that Jamie Dimon, the accomplished CEO of JPMorgan Chase, was simply stonewalling when he claimed that mounting trading losses in his bank were “blown out of proportion” — that he...
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JPMorgan’s loss bigger than ‘risk management’
~This article, contributed by Robert Kaplan and Anette Mikes, was originally published by the Harvard Business Review.~ The recent disclosure of a multibillion-dollar trading loss at JPMorgan Chase...
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What’s your risk attitude? (And how does it affect your company?)
In the best of times or the worst of times — or even in unusually uncertain times — the prevailing opinion about how risky it is to do business is never unanimous. Opinions can be classified into four...
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The Facebook investor you never want to become
A few weeks ago, I read an article in the Wall Street Journal about people who had opened up their very first investment accounts just to get in on the Facebook IPO. One man they profiled had purchased...
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Make everyone a risk manager
By the nature of their work, people at the University of California, where I serve as chief risk officer, are risk takers. Their risk appetite is amplified by an urgency or impatience to “get the job...
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Before you take a risk, lay out the logic
There is little I see about the practice of risk management today that is particularly helpful. In many companies, the approach seems to be a combination of formalized risk tracking and cultural...
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Risk management: A beekeeper’s perspective on risk
A decade ago, I embarked on a new hobby — one that many more people have taken up in the meantime. I became a beekeeper. At the same time, I became a bee observer. Like Sherlock Holmes (in “His Last...
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Pay people to avoid risky behavior
CEOs are worrying about risky behavior by employees at the front lines of the business. Nobody wants to wind up like Jamie Dimon, head of JPMorgan Chase, whose cherished legacy has been pickled by...
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How culture determines your appetite for risk
~This article, contributed by Fons Trompenaars, Charles Hampden-Turner and Peter Woolliams, was originally published by the Harvard Business Review.~ How much control do you have over the risks of your...
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