by Rick Nason, PhD, CFA
Partner, RSD Solutions Inc.
Just finished a trip to Chicago with students in my MBA derivatives course at Dalhousie University. Going to the traditional centre of risk management is always a thrill for the students – even though the exchanges are a shadow of their former selves. Having the opportunity to be on the floor, and being able to talk to traders (both on the floor and off the floor) brings a different level of understanding to the student’s education.
Before leaving Chicago one student dropped me a very kind thank-you note under my hotel room door. It simply said, “Thanks – for making it real”.
To my way of thinking that was a great thank you note. The purpose of the trip was to bring risk management out of the textbook and make it come alive.
Risk management is not about textbook theories and flow charts. Risk management is about people and organizations and their very real emotions, thoughts, hopes and fears. Is your risk department real?
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