In today’s era—of inflation, a pandemic, war, and more—it can sometimes feel like market risk is at an all-time high. But the truth is, how we evaluate and navigate risk hasn’t changed mathematically in hundreds of years. And our guest this week is an expert in risk management (no matter the external circumstances).
Alex Sidorenko is an experienced executive across strategic, investment, and operational risks and insurance working within multibillion-dollar corporations in Australia, GCC, and Europe. He’s successfully implemented changes to quantitative risk analysis, risk-based decision-making, and neuroscience.
Tune into the full episode for more on risk management, the “predictable irrationality” of human beings, the role of global conflict in risk estimation, and Alex’s tips for small businesses to become more resilient in the face of constantly changing global markets.
Here’s a Glimpse of What You’ll Learn:
- How Alex used “kindergarten math” within the risk management industry, and how it’s that simple math has saved companies significant amounts of money yearly
- Why geography plays a role in how much risk is overestimated or underestimated
- What it means for humans to be “predictably irrational” and how that relates back to Alex’s work
- How global conflict affects (and doesn’t affect) risk exposure
- The inherent problems with single-point KPIs
- Alex’s 3 steps to make your business more resilient
- More about the concept of “expected losses”
- Why Alex decided to move from a major city to a small village in Spain
- More about Alex’s book about risk management for small businesses
Resources Mentioned in This Episode:
- Alex’s Risk Academy blog
- Risk Academy on YouTube
- Alex Sidorenko on LinkedIn
- Alex’s free risk management book: “Guide to Effective Risk Management 3.0”
- Risk Awareness Week 2022
- “Thinking, Fast and Slow” by Daniel Kahneman
- “Predictably Irrational: The Hidden Forces that Shape Our Decisions” by Dan Ariely
- “The Flaw of Averages: Why We Underestimate Risk in the Face of Uncertainty” by Sam L. Savage
- 40 Strategy
- Contact 40 Strategy
- Carl J. Cox on LinkedIn