Understanding and managing risks properly has become a key challenge and source of success for corporations and banks, but also government organizations. The challenge is not confined to understanding the underlying risks and tools to deal with them, but overcoming organizational hurdles and conflicting incentives within the organization. Incomplete risk analysis and distorted incentives of decision makers in the implementation process can have devastating and long lasting effects for corporations and society.
The specialization takes a holistic – applied – perspective, drawing general lessons from real cases and providing students with the tools necessary to asses and implement risk management strategies that create value and are sustainable. Topics include, but are not limited to
- Australia’s vaccination strategy and the COVID vaccine procurement strategy of the European Union: what went wrong and lessons for corporate risk management.
- Identifying organizational challenges of risk management: when conflicting objectives compromise risk management.
- Bringing management on board and designing a coherent risk management strategy: getting the commitment and data that is essential for effective risk management.
- Monte Carlo simulation: a simple and flexible tool to model risk.
- Understanding the challenges of chaotic systems and endogenous risk.
- Floods and climate risk: challenges for corporations, financial stability, and insurance.
- The financial crisis of 2008-2009: key lessons for risk management.
- CAT bonds and securitization.