Free risk management book

Risk management is ultimately about creating a culture that would facilitate risk discussion when performing business activities or making any strategic, investment or project decision.

In this free book, Alex Sidorenko and Elena Demidenko talk about practical steps risk managers can take to integrate risk management into decision making and core business processes. Based on our research and the interviews, we have summarised fifteen practical ideas on how to improve the integration of risk management into the daily life of the organisation. These were grouped into three high level objectives: drive risk culture, help integrate risk management into business and become a trusted advisor. This document is designed to be a practical implementation guide. Each section is accompanied by checklists, video references, useful links and templates.

Here are just some of the key points in the book:

  • Risk management is not just about tools and techniques; it is about changing the corporate culture and the mindset of management and employees. This change cannot happen overnight, risk managers need to start small by embedding elements of risk analysis into various decision making processes, expanding the scope of risk management over time.
  • It is vital to break the status quo where risk management is seen as a separate and independent activity. Instead, risk managers should integrate risk management into all core business activities. This can be achieved by integrating risk analysis into decision-making processes, assisting management in evaluating projects and strategic initiatives with the use of risk analysis tools, integrating risk management into strategic planning, budgeting and performance management, incorporating responsibilities in job descriptions, providing management training and etc.
  • Risk managers should strive to become advisors to senior management and the Board. Advisers that are trusted and whose recommendations are listened to. To achieve this, risk managers may need to break away from traditional models like “3 lines of defence” and instead choose to actively participate in the decision making, take ownership of some risks and provide an independent assessment of risks associated with important business decisions, maybe even veto some high-risk activities.

This guide isn't about "classical" risk management with its useless risk maps, risk registers, risk owners or risk mitigation plans. This guide is about implementing the most current risk analysis research into the business processes, decision making and the overall culture of the organization.

More than a 1000 downloads in couple of days. Download for free or read online: https://www.risk-academy.ru/en/download/risk-management-book/

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Alex Sidorenko is an expert with over 15 years of private equity, sovereign wealth fund risk management experience across Australia, Russia, Poland and Kazakhstan. In 2014 Alex was named the Risk Manager of the Year by the Russian Risk Management Association.

YOUTUBE: <a href="https://www.youtube.com/channel/UCog9jkDZdiRps2w27MZ5Azg">https://www.youtube.com/channel/UCog9jkDZdiRps2w27MZ5Azg</a>
BLOG: <a href="https://riskacademy.wordpress.com">https://riskacademy.wordpress.com</a>

Alex specializes on integrating risk management into strategic and investment planning and decision making at venture capital, private equity, investment authorities and sovereign funds across the world. Alex worked as a Head of Risk Management at RUSNANO, one of the largest private equity funds in Russia, specializing in technology investment. Alex won an award for best ERM implementation at RUSNANO in 2014.

As a VP at Institute for strategic risk analysis in decision making, Alex is responsible for risk management consulting, training and certification across Russia and CIS. Alex is the co-author of the global PwC risk management methodology, the author of the risk management guidelines for SME (Russian standardization organization), risk management textbook (Russian Ministry of Finance), risk management guide (Australian Stock Exchange) and the award-winning training course on risk management (best risk education program 2013, 2014 and 2015).

In 2012 Alex created RISK-ACADEMY <a href="http://www.risk-academy.ru">www.risk-academy.ru</a> a web portal dedicated to risk management training across Russia and CIS. Since then RISK-ACADEMY became a global brand providing risk management services to some of the largest organizations in the world.

Alex recently published his second risk management book called “Effective Risk Management 2.0”. Alex also regularly presents at risk management conferences in the Middle East, Russia and Europe. In November 2012 Alex short a TV series dedicated to risk management in start-ups. Alex teaches risk management at major Russian business schools as well as corporate universities.

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