Our program is unique in the world.
There's nothing like it.
And there's three main aspects to its uniqueness.
First, we cover all aspects of enterprise risk management.
We cover ERM framework.
We cover risk governance.
We cover all aspects of the ERM process cycle, including risk identification, risk quantification, risk decision making, and risk messaging.
Secondly, we cover all risk sources-- not just financial and insurance risk, which other programs do, but more importantly, strategic and operational risks as well, which every industry study
I've ever seen, including two that I led, and all my client work show that if you draw a pie chart of the sources of big threats, which are what we capture in enterprise risk management, even for financial services companies, the vast majority them, 60%, relate to strategic risk.
Another 20 or so percent relate to operational risk.
And the smallest category is actually financial insurance.
But we cover all risk sources.
And third, we have a very practical approach.
We have ERM tools and techniques that have been proven
in the marketplace by our faculty, who are active or recently
active leaders in the ERM marketplace.
We also have business communication and interaction skills, which are really critical to making you successful risk and ERM professionals.
Many people talk about, oh, you know, people are really
the most important, and communication is important.
But we actually walk the talk.
We have two core courses devoted exclusively to communication skills, and electives as well.
The Killer Risks presentation is intended to provide you with a small sample of the content in the Columbia University ERM programs.
We selected this module because it illustrates in a fun and interesting way some of the important and challenging business issues that can be addressed through a well-crafted ERM program.
All killer risks are potential leading indicators of high-severity risk events.
Most of the ones we're going to discuss also share two other characteristics.
They're politically difficult to bring up.
They're actually political suicide to even mention them, sometimes.
And everybody knows about it.
So they're kind of the elephant in the room.
We're going to discuss five types of killer risks today-- arrogance, rainmaker, mastermind, internal communications, and combination punches.