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    Risk management: concept, positioning and priorities  

    Eugene Eteris, European Studies Faculty, RSU, LLD, assoc. prof., 18.05.2009.

    Risk management (RM) covers several themes both general and sectoral. Present crisis has shown that RM was not taken seriously enough neither in the financial sector nor in general economic strategies and national development models. Strange enough, there is no evidence that RM is already being treated as one of the important aspect of organisations and/or undertaking’s activity. RM is in „decision vacuum“, as risk advice comes generally from regulatory authority; therefore unbiased RM is needed – global and national.

    At a time of present financial and economic crisis both lay people and authorities are asking the same question: how did it happen that the coming threats could not predicted or at least foreseen. It is true that RM was addressed already two years ago, e.g. Special Report on RM in Financial Times on May 1, 2007. Already then it made a couple of interesting conclusions: first, modern economic development created a new set of risks (more complicated and system-like), and, second, an optimal market based RM shall be installed for a market-based valuation of bank’s credit portfolio and „public“ assessment of national development models.  
    The author attempts to show that modern crisis has a systematic character, which has made it extremely difficult to predict and properly assess, hence the present outcomes. However some analysis can make the future risk assessment a more foreseeable and predictable task: the successful approach would challenge conventional thinking.


    Full text at the website of The Baltic Course Risk management: concept, positioning and priorities

    Articles »  Risk management: concept, positioning and priorities »  Views: 5226   Diplomatic Club




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