Risk management is an essential facet of both personal and professional endeavors, serving as a cornerstone for navigating uncertain terrain and mitigating potential hazards. From the boardroom to everyday life, understanding and effectively managing risk can spell the difference between success and failure. As such, it’s no surprise that throughout history, thinkers, leaders, and innovators have provided insights and reflections on this crucial subject.
In this collection of risk management quotes, we delve into the wisdom of various minds who have grappled with the complexities of risk. Whether it’s seasoned entrepreneurs, celebrated authors, or renowned scholars, their words offer invaluable perspectives on the nature of risk, its implications, and strategies for managing it adeptly. As you peruse the following quotes, consider how they resonate with your own experiences and aspirations, and perhaps find inspiration for navigating the uncertainties that lie ahead.
For risk management reasons, we need to make sure we hit our inflation objective at the same time we’re at full employment. Charles L. Evans
I have learned that nothing is certain except for the need to have strong risk management, a lot of cash, the willingness to invest even when the future is unclear, and great people. Jeffrey R. Immelt
We are very much engaged across the government, very much engaged in streamlining and simplifying our activities with borrowers and lenders, because that saves time and saves costs and we believe we can do that while maintaining the same or increased levels of oversight and risk management. Karen Mills
You need to have a lot of human judgment involved in the financial industry in terms of risk management, in terms of investment decisions, and things that really allow us to blend the best of technology and the human brain. Adena Friedman
Keeping the risk management plan up to date can transform it from a door stop into a vital project management tool. Remember: what you don’t know can kill your project. Bruce Pittman
Maybe we should teach schoolchildren probability theory and investment risk management. Andrew Lo
As population susceptibilities are better understood, we will be in a better position than we are in today to make informed decisions about risk management. Samuel Wilson
One of the responsibilities faced by the Environmental Genome Project is to provide the science base upon which society can make better informed risk management decisions. Samuel Wilson
When you read that UBS did not even view parts of its mortgage portfolio as having market risk, it becomes very obvious that a number of firms were not dotting the i’s and crossing the t’s when it comes to risk management. Kenneth C. Griffin
Stronger regulation and supervision aimed at problems with underwriting practices and lenders’ risk management would have been a more effective and surgical approach to constraining the housing bubble than a general increase in interest rates. Ben Bernanke
Risk management systems and controls may discourage or limit certain revenue-generating opportunities. Failure to ensure the independence of these functions from the revenue generators and risk takers has been shown to be dangerous, and this is something for which the board is accountable. Jerome Powell
I think the most important thing to understand about credit derivatives and their use at JPMorgan is they served a number of different purposes. First and foremost, they were a tool which initially was seen as being useful in managing the bank’s own risk management challenges. Blythe Masters
There is no doubt that Formula 1 has the best risk management of any sport and any industry in the world. Jackie Stewart
I think the rise of quantitative econometrics and a highly mathematical approach to risk management was the obverse of a decline in interest in financial history. Niall Ferguson
Stock prices relative to company assets are no better at signaling the likelihood of future earnings growth than they were the day the Titanic sank, and risk management is a good deal worse. Timothy Noah
Security incidents have gone up 5-10 times during the pandemic, so there is an increased need for security operations risk management, identity and access management, data privacy and compliance. Ashok Soota
Most of the time, your risk management works. With a systemic event such as the recent shocks following the collapse of Lehman Brothers, obviously the risk-management system of any one bank appears, after the fact, to be incomplete. We ended up where banks couldn’t liquidate their risk, and the system tended to freeze up. Myron Scholes
From my perspective, it’s really risk management to ensure that humans have the ability to go somewhere else in case there were to be some huge disaster on Earth. Gwynne Shotwell
Projects are usually undertaken to either solve a problem or take advantage of an opportunity. The probability that the project – even if precisely executed – will complete on time, on budget, and on performance is typically small. Project management is utilized to increase this probability. So in a sense, project management is risk management. Bruce Pittman
The question of whether or to what extent human activities are causing global warming is not a matter of ideology, let alone of belief. The issue is simply one of risk management. Malcolm Turnbull
Alignment of business strategy and risk appetite should minimize the firm’s exposure to large and unexpected losses. In addition, the firm’s risk management capabilities need to be commensurate with the risks it expects to take. Jerome Powell
Being a Navy SEAL and sniper taught me all about risk management. Take away all the risk variables under your control and reduce it to an acceptable level. The same fundamentals apply in business. Brandon Webb
