You need to have a lot of human judgment involved in the financial industry in terms of risk management, in terms of investment decisions, and things that really allow us to blend the best of technology and the human brain.
Maybe we should teach schoolchildren probability theory and investment risk management.
Security incidents have gone up 5-10 times during the pandemic, so there is an increased need for security operations risk management, identity and access management, data privacy and compliance.
Stronger regulation and supervision aimed at problems with underwriting practices and lenders' risk management would have been a more effective and surgical approach to constraining the housing bubble than a general increase in interest rates.
I think the most important thing to understand about credit derivatives and their use at JPMorgan is they served a number of different purposes. First and foremost, they were a tool which initially was seen as being useful in managing the bank's own risk management challenges.
Being a Navy SEAL and sniper taught me all about risk management. Take away all the risk variables under your control and reduce it to an acceptable level. The same fundamentals apply in business.
Keeping the risk management plan up to date can transform it from a door stop into a vital project management tool. Remember: what you don't know can kill your project.
Projects are usually undertaken to either solve a problem or take advantage of an opportunity. The probability that the project - even if precisely executed - will complete on time, on budget, and on performance is typically small. Project management is utilized to increase this probability. So in a sense, project management is risk management.
For risk management reasons, we need to make sure we hit our inflation objective at the same time we're at full employment.
From my perspective, it's really risk management to ensure that humans have the ability to go somewhere else in case there were to be some huge disaster on Earth.
