Climate breaks multiple records in 2016, with global impacts

By World Meteorological Organization The year 2016 made history, with a record global temperature, exceptionally low sea ice, and unabated sea level rise and ocean heat, according to the World Meteorological Organization (WMO). Extreme weather and climate conditions have continued into 2017. WMO issued its annual statement on the State of the Global Climate ahead of World Meteorological Day on 23 March. It is based on multiple international datasets maintained independently by global climate analysis centres and information submitted by […]

The evolution of model risk management

By Ignacio Crespo, Pankaj Kumar, Peter Noteboom, and Marc Taymans. McKinsey&Company An increasing reliance on models, regulatory challenges, and talent scarcity is driving banks toward a model risk management organization that is both more effective and value-centric. The number of models is rising dramatically—10 to 25 percent annually at large institutions—as banks utilize models for an ever-widening scope of decision making. More complex models are being created with advanced-analytics techniques, such as machine learning, to achieve higher performance standards. A typical […]

Didier Sornette: How we can predict the next financial crisis

The 2007-2008 financial crisis, you might think, was an unpredictable one-time crash. But Didier Sornette and his Financial Crisis Observatory have plotted a set of early warning signs for unstable, growing systems, tracking the moment when any bubble is about to pop. Didier Sornette (born June 25, 1957 in Paris) is Professor on the Chair of Entrepreneurial Risks at the Swiss Federal Institute of Technology Zurich (ETH Zurich). He is also a professor of the Swiss Finance Institute, and a professor associated with both […]

The Risk of Leadership

A plea for a new search for modern leadership. By Jack Kruf Yes, we have our democratic system as a great set of principles and values for good public governance. Public leadership is embedded in this, at least it should be. You may expect excellent results, because the democratic system traces back to the Greek δημοκρατία 508 BC. From there it developed until now, anno 2017. Considering the state of society and natural ecosystems you may expected more of 2525 […]

European Public Sector Award (EPSA)

Since its launch in 2007, the European Public Sector Award (EPSA) has received, assessed and made accessible more than 1000 public practices from 39 European countries and the European institutions. Among the “top submitters” were countries such as Spain, Romania, Poland, Italy, Austria and Germany. These cases form a rich database of valuable experiences at the service and disposal of all European public administrations and make the European Public Sector Award the European network of public sector excellence. For all […]

Nonfinancial risk today: getting risk and the business aligned

By Joseba Eceiza, Piotr Kaminski and Thomas Poppensieker, McKinsey&Company. Ask senior managers at any company if they have nonfinancial risk under control, and the answer is likely to be yes. But as managers of companies in automotive, banking, oil and gas, pharmaceuticals and many other sectors can attest, the reality is often very different. And as personal liability for corporate actions takes hold, board members—both executive and nonexecutive—are on the hook not just for their personal involvement in risk- and compliance-related […]

Resilient Cities

Resilient cities are cities that have the ability to absorb, recover and prepare for future shocks (economic, environmental, social & institutional). Resilient cities promote sustainable development, well-being and inclusive growth.  The OECD is investigating how cities can increase their resilience. There are 4 areas that drive resilience: economy, governance, society and environment. The report on the OECD Resilient Cities project is structured into 4 sections: A framework for resilient cities. It provides a working definition of a resilient city, the drivers […]

Political Risk Map 2017

By Marsh. Global Geopolitical Risk Concerns for Businesses. Events in the West, including the UK’s Brexit vote and the US presidential election, have the potential to amplify geopolitical risks in 2017. Large populations have become dissatisfied with conventional politics, driven by factors such as surges in immigration, the ongoing terrorism threat, and the knock-on effect of global financial crises. The result has been increased protectionism and the rise of anti-establishment, nation-first parties in countries worldwide. In addition to these threats, […]

Climate change, impacts and vulnerability in Europe 2016

Europe’s regions are facing rising sea levels and more extreme weather, such as more frequent and more intense heatwaves, flooding, droughts and storms due to climate change, according to a European Environment Agency report published today. The report ‘Climate change, impacts and vulnerability in Europe 2016’ by the European Environment Agency assesses the latest trends and projections on climate change and its impacts across Europe and finds that better and more flexible adaptation strategies, policies and measures will be crucial to […]

The Routledge Companion to Strategic Risk Management

Book by Professor Torben Juul Andersen*, published by Routledge Press, London, 2016. Professor Andersen’s work presently is focused on several key aspects of risk leadership, including—notably—an examination of how top management assures effective implementation of risk policy throughout the organization. Additionally, he is supervising doctoral work that is directed toward better understanding managing organizational uncertainty and developing methodologies for earlier detection of emergent risks. Managing risk in and across organizations has always been of vital importance, both for individual firms and for […]

The Global Risks Report 2017

Published as the 12th annual edition by the World Economic Forum, this year’s findings are testament to five key challenges that the world now faces. The first two are in the economic category, in line with the fact that rising income and wealth disparity is rated by GRPS respondents as the most important trend in determining global developments over the next 10 years. This points to the need for reviving economic growth, but the growing mood of anti-establishment populism suggests we […]

The Citizen in the Centre?

By Erik Koopman. Municipalities face significant challenges and uncertainties in carrying out their new tasks in the social domain. Many municipalities have chosen for a central role for social district teams. Even though the district teams vary greatly in their tasks and structure, in general the teams exist to discover the genuine need for help and support for citizens and to be able to see the ‘bigger picture’ in order to recognise and solve problems early, integrally and effectively. This […]

The Undoing Project

This is the extraordinary story – The Undoing Project: A Friendship that Changed the World, published by W.W. Norton & Company – of the two men whose ideas changed the world. Daniel Kahneman and Amos Tversky met in war-torn 1960s Israel. Both were gifted young psychology professors: Kahneman a rootless son of holocaust survivors who saw the world as a problem to be solved; Tversky a voluble, instinctual blur of energy. In this breathtaking new book, Michael Lewis tells the extraordinary […]

Vers l’e-citoyenneté et l’e-administration

Quels risques pour les collectivités? Compte-rendu d’atelier par PRIMO France. Introduction L’édition 2016 du Congrès du Syndicat National des Directeurs Généraux des Collectivités Territoriales a permis à PRIMO France de présenter et rappeler lors d’un atelier l’importance des cyber-risques et les enjeux majeurs qu’ils représentent dans le Service Public, en partenariat avec Marsh France. Vous trouverez en cliquant ici un compte-rendu détaillé de l’intervention de M. Gérard Combe, Président de l’association PRIMO France et de M. Thomas Graiff, Responsable Secteur Public chez Marsh France. […]

PRIMO Risk Management Award for the City of Utrecht

The city of Utrecht received the PRIMO Risk Management Award for their excellent organisation of Le Grand Départ de Tour de France 2015. On the 9th of December 2016, chairman of PRIMO Nederland, Michel Bezuijen, handed over the award to the mayor of the municipality of Utrecht, Jan van Zanen. The choice for Utrecht was based on the ‘excellent’ in the evaluation report by the Utrecht University, the way the project team built in risk management in their daily work and the direct […]

Terrorism Risk and Insurance

The leading Insurance Information Institute gives insight in the connection of terrorism risk and insurance. Of course we have -at all times – to protect our citizens and society from heavy losses and essential disruption. But in case of an emergency, what can the public relevance of insurance be? What actually can be insured and what not? “In addition to the risk of natural disasters, the insurance industry faces the threat of terrorist attacks. Losses stemming from the destruction of the World Trade Center and other […]

ISO 22316: Security and Resilience

The new ISO 22316 standard about organizational resilience will be published ultimo at the beginning of 2017. It has been developed by the ISO/TC 292 – Security and resilience – committee of the International Organization for Standardization in Geneva. Organizational resilience is the ability of an organization to respond and adapt to change. Resilience enables organizations to anticipate and respond to threats and opportunities, arising from sudden or gradual changes in their internal and external context. Enhancing resilience should be a strategic organizational goal. It is […]

Political Risk

With the (unexpected) outcomes and results of elections and referenda it becomes more and more evident that politics – and with that the shift of power and influence – is one of the drivers of public risk. The unpredictable working of politics – and in fact of society itself – with the democratic system is therefore in discussion, and even the system of democracy itself. What is political risk? According to Wikipedia our collective definition is: Political risk is a type of risk faced […]

Social Cohesion and Elections

By Jack P. Kruf One of the documents we had on the table during the founding of PRIMO in Strasbourg, back in 2005, was the policy report by the European Council “A new strategy for Social Cohesion“. It is still ground breaking because of it’s integrated approach of social cohesion and the hereto related public risk governance. It came directly to my mind seeing the series and documentaries – before and during the presidential election – about the state of US society. It is one of the frames which […]

Malta Seminar: Climate Change and Disaster Risk Reduction

Trends and Economic Challenges in Malta as part of the ‘Climate Change Research Seminar Series’. Date: Tuesday 29th November 2016 Organisation: by the Climate Change Research Platform of the University of Malta* and PRIMO** Venue: IT Services Building, Room VC102, Malta University The Climate Change Platform (CCP) was set up, under the auspices of the Islands and Small States Institute, to facilitate collaborations between University of Malta entities and individuals interested in climate change issues, and to promote research and […]

Good Government and Coordination

By Jack Kruf. The painting in the Town Hall of the City (and from Republic) of Siena is called The Allegory of Good and Bad Government. It is a series of three fresco panels painted in the Sala Dei Nove by Ambrogio Lorenzetti in 1338/1339. The series consists of six different scenes: Allegory of Good Government, Allegory of Bad Government, Effects of Bad Government in the City, Effects of Bad Government in the Country, Effects of Good Government in the City and Effects of Good Government in the Country.  The only way to get […]