Key information
Programme Overview
In today's dynamic business environment, geopolitical instability and emerging risks pose a significant challenge for executives.
Designed and delivered by Executive Education Imperial College Business School, our Risk Management course equips you with the knowledge and tools to navigate uncertainty and make informed decisions.
The programme is expertly designed to help you future-proof your strategies by gaining a deep understanding of risk management principles to effectively address geopolitical and economic uncertainties.
You will learn how to leverage cutting-edge AI and explore the transformative potential of AI in implementing robust risk management processes.
With an exclusive visit to our state-of-the-art Carbon Capture and Storage (CCS), you will witness firsthand the cutting-edge technologies and strategies employed to mitigate environmental risks.
You will explore the intricate interplay between qualitative and quantitative approaches to risk management and discuss the strengths and limitations of risk measures, scenario analysis and the importance of addressing individual and collective behavioral biases. You will delve deeper into the ever-evolving landscape of emerging risks, such as cyber risk and climate change risk, and gain invaluable insights into navigating practical challenges and implementing cutting-edge tools and strategies.
Discover the key to unlocking successful risk management – overcoming biases – and pave the way for a future of effective risk mitigation.
Join us on this transformative journey and equip yourself with the knowledge and skills needed to thrive in the fast-paced realm of risk management.
Who should attend?
The Imperial Risk Management programme blends the latest quantitative research and the practice of intelligent risk management strategies to expand your understanding and managerial capabilities.
The programme convenes a breadth of executives from diverse geographies, industries, sectors and functions, including:
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Finance managers aiming to refine their understanding of risk regulation and practice.
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Risk/portfolio managers seeking to optimise capital allocation across multiple investments
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Consultants aspiring to broaden their expertise in risk management techniques and tools
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Managers and senior managers responsible for setting and implementing strategic direction within their organisations
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Leaders responsible for risk, resilience, business continuity, or crisis management looking to elevate their strategic thinking on resilience to a more advanced level.
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Entrepreneurs who need to manage the risks associated with establishing and growing their business.
Learning objectives
During the on-campus week, you will engage with industry experts and discover how to view risk management decisions, projects or investments as a portfolio of risks. You will learn how to build a risk department from scratch from the Chief Risk Officer of a $20 billion asset management firm as well as interact with an experienced insurance executive around the principles of risk management in insurance markets.
You will come away with an appreciation of how a deeper understanding of risk can significantly improve financial judgement and foresight, empowering you to make informed decisions in various contexts.
You will emerge from the programme with the understanding and the refreshed capabilities to:
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Explore recent trends in risk management in both corporate and financial sectors by analysing industry developments and emerging practices.
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Identify and mitigate individual behavioural and organisational biases to implement optimal risk management strategies effectively.
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Assess risk management practices and frameworks and apply them to real-world industry contexts
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Master basic probability rules, measures of tail risk, and apply linear regression model to create a level playing field in statistical knowledge and tools necessary for effective risk management
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Analyse innovation in risk management practices arising from paradigm shifts in insurance, asset management and global banking
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Explore the role of corporate governance and its link to risk
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Discover how to manage risk in complex and derivative portfolios, and the strategies and techniques to manage exotic risks such as climate change risks.
Learning Journey
Day 1 focuses on laying a solid foundation, starting with brief introductions and immersive learning experiences in the Carbon Capture Lab (CCL). The CCL aids in understanding risk management practically and fosters teamwork.
We address individual and collective biases crucial for effective risk management, alongside basic statistical concepts.
Day 2 builds upon Day 1, exploring risk management concepts like diversification, hedging, and quantitative risk measures.
We hear insights from industry experts on building risk management departments and utilising machine learning for risk forecasting.
Various tools for risk management, from basic to advanced derivatives, are covered, with a focus on practical applications.
Day 3 strengthens your understanding of market risk management, including measures like VaR and expected shortfall. Commodity risk management and case studies further deepen your knowledge.
Day 4 shifts focus to risk management in the banking sector, covering key risks, regulatory frameworks, and Enterprise Risk Management (ERM) principles. Advanced topics such as AI, stress testing, and carbon markets are explored.
Day 5 concentrates on non-financial and operational risk management, employing tools like Risk Taxonomy and Risk & Control Assessment. Case studies illustrate responses to regulation and the management of complex risks. The insurance sector's role in risk management is examined, including emerging risks like Cyber risk.
We conclude by addressing practical challenges in implementing risk management tools and strategies, emphasizing the importance of overcoming biases for effective risk management.
Programme Faculty and Experts
Robert Kosowski
Programme Director, Professor of Finance and Head of the Finance Department at Imperial College Business School
Professor Kosowski is a research fellow at the CEPR and an associate of the Oxford Man Institute. Previously he was Head of Quantitative Research at a £20 billion asset management firm and specialist adviser to the UK House of Lords.
Professor Kososwki’s research has been published in the Financial Times and Wall Street Journal.
Enrico Biffis
Associate Professor of Actuarial Finance at Imperial College Business School
Enrico Biffis is Associate Director for Development Finance at the Brevan Howard Centre for Financial Analysis. He has collaborated extensively with industry and been the recipient of grants and awards for his research on the modelling and hedging of large risks.
Enrico Biffis has expertise in risk analysis, asset-liability management, and the design of predictive analytics and risk management tools for a variety of asset classes.
Paolo Zaffaroni
Professor in Financial Econometrics at Imperial College Business School
Paolo Zaffaroni holds a summa cum laude degree in economic statistics from Roma and holds a Ph.D. in Econometrics from the London School of Economics. He also teaches at the University of Rome La Sapienza and has previously taught at the London School of Economics and at the University of Cambridge.
His main research interests are empirical asset pricing, portfolio choice, financial econometrics, and econometric theory.
Didier Michoud
Chief Risk Officer of the Unigestion Group
Didier Michoud began his career with Lloyds TSB Bank in Switzerland. He has served as Risk Manager and Deputy to the Chief Risk Officer for Banque Cantonale de Geneve, Senior Manager of Economic Capital with the Banque Laurentienne du Canada, and Senior Quantitative Analyst for EIM, S.A. where he went on to become Head of Risk Management.
Jose Ribeiro
Independent Non-executive Director, Starr Companies and the Hansard Group
Seasoned CEO/Chairman, based in London, with a demonstrated history of working in financial services globally. Has been an executive board member in a variety of jurisdictions around the world (UK, EU, HK, China, Brazil, Bermuda and Singapore). Skilled in managing P&C and Life insurance companies as well as insurance brokers with a global footprint. Has a MSc in Applied Mathematics and an MBA in International Business Management. Jose is the Chairman of the Board at Starr Insurance Companies; Chairman of the Board at Yurtle and Senior Independent Director (SID) and Chairman of the Remuneration Committee at Hansard Global.
Audrey Goldstein
Audrey Goldstein joined Standard Chartered in 2018. She is part of the Carbon Market Development team, helping the bank develop its capabilities and drive innovation in the voluntary market space through its wide connectivity and market expertise.
Having started her career at Commerzbank in 2010, Audrey has over 10 years of experience in structuring complex deals in the commodity space. She has a deep knowledge of the energy, metal and carbon markets. She has led several complex transactions for various types of clients including financial institutions, governments, supranational and blue-chip corporates globally.
More recently, Audrey worked in the Client Analytics team to provide bespoke analysis helping clients with their financial market risks in the commodity and sustainability sectors.
She now leverages this wealth of experience to develop innovative and relevant carbon solutions for our clients while driving the bank’s efforts to be a leader in scaling voluntary carbon markets globally.
In parallel, Audrey is also co-chair of IETA’s International Working Group, which engages on all aspects of international climate policy, with a particular focus on the establishment of supra-national carbon pricing mechanisms and the implementation of Article 6 in the Paris Agreement.
Audrey holds a Master degree in Risk & Asset Management from EDHEC Business School in France.
Rochelle Lucas
Rochelle has spent the last three years at the London Stock Exchange Group as the Chief Risk Officer and more recently the Chief Operating Officer for Capital Markets. In these roles she is responsible for embedding risk management within the business. This includes driving improvements in risk culture, managing financial and non-financial risk and managing governance at an Executive and Board level.
Prior to joining LSEG, Rochelle was the Chief Control Officer for the Commercial Bank at HSBC. At HSBC, Rochelle built out the risk framework across several areas including third party, technology, cyber and model risk. Prior to that, Rochelle spent 15 years at Goldman Sachs in London, Bangalore, Sydney, and New York, with leadership roles in Operational Risk, Internal Audit, and program delivery.
Grace Igbiniyesu
A senior executive with extensive corporate, trade finance and risk management experience across Africa. I have worked for culturally diverse firms where I set up, managed, and transformed risk management units with built-in governance and management oversight. My core capability is to build and improve risk management functions, practices, and processes, while bringing strong work ethics, drive, and focus. I am practical, and hands-on in complex, culturally diverse environments.
Strong passion and in-depth knowledge of African counterparties built up over 25 years across a range of sectors covering key African markets.
Adept at working in a cross-cultural setting with a keen and supportive interest in cultural values and norms.
A strong and tested ability to build and develop frameworks covering Enterprise Risk Management.
Zbigniew Kominek
Zbigniew Kominek is the Managing Director, Head of Finance at the European Bank for Reconstruction and Development (EBRD) in London. He is responsible for financial and operational planning, financial policies, budget and financial reporting.
Zbigniew joined the EBRD in 2003 and worked in several roles in the Office of the Chief Economist and the Risk Management department, including as the Director, Risk Policy and Analytics in charge of quantitative risk models, model validation, stress testing, risk data analysis and risk policy framework. Prior to joining the EBRD, he worked as an economic consultant on regulation of network utilities and competition issues in the UK.
Zbigniew holds a PhD in Economics from the University of Leicester (UK), master degrees in Finance and Quantitative Analysis from the Warsaw School of Economics (Poland) and an MBA from the Booth School of Business at the University of Chicago. Zbigniew’s research has been published in leading journals, including the Journal of Finance and the Journal of Applied Statistics.
