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4th Risk Summit

In June 2013 the Cambridge Centre for Risk Studies brought together leaders and decision makers from business, government, intergovernmental organisations, academia and NGOs to explore the inter-linkages between risk and strategy. Risk is usually perceived as the threat of loss, with predominantly negative connotations. This meeting challenged these perceptions and promote debate about opportunities inherent in a risky environment.

Keynote speakers

Risk Summit

  • Woody Powell, Professor of Sociology, Organizational Behavior, Management Science & Engineering, and Communication (by courtesy), Stanford University
  • Gillian Tett, Markets and Finance Commentator & Assistant Editor, Financial Times

Risk Summit Dinner 

David Spiegelhalter, Winton Professor of the Public Understanding of Risk, University of Cambridge

Cambridge Risk Centre Special Topic Seminars | Monday 17 June 2013

13:00-14:00 From Risk Management to Resilience in Coping with Natural Catastrophes in Asia - the Vietnam Case
Roman Hohl, CEO Asia Risk Centre and Deputy Director, Institute of Catastrophe Risk Management (ICRM), Nanyang Technological University (NTU), Singapore
14:00-15:15 Risk Analytics Workshop with ProbabilityManagement.org
Michael Salama, Vice President, Corporate Tax & Lead Tax Counsel, The Walt Disney Company.
Sam Savage, Consulting Professor, Stanford University and Executive Director, ProbabilityManagement.org
15:16-16:30 Cambridge Risk Framework: Innovations in Risk Modelling

  • Gary Bowman, Research Associate, Cambridge Centre for Risk Studies
  • Andrew Coburn, Director of the External Advisory Board, Cambridge Centre for Risk Studies and Senior Vice President, RMS
  • Simon Ruffle, Director of Technology Research, Cambridge Centre for Risk Studies

Day one | Monday 17 June 2013

16:30-17:00 Risk Summit Registration
17:00-18:30 Risk Summit Welcome
Michelle Tuveson, Executive Director, Cambridge Centre for Risk Studies

Session and Keynote Speaker Introduction
William Janeway, Senior Advisor, Warburg Pincus

Risk Summit Keynote: Risk and Resilience through a Network LensSpeaker: Woody Powell, Professor of Sociology, Organizational Behavior, Management Science & Engineering, and Communication (by courtesy), Stanford University

Risk Summit Day 1 Panel: Seeking Value Creation in Risk: Innovation, Creativity, and Making the Right Bets
Moderated by: Chair: David Champion, Senior Editor, Harvard Business Review

  • Mark Davies, Head of Group Risk, Rio Tinto
  • Christoph Loch, Director, University of Cambridge Judge Business School & Professor of Management Studies
  • Woody Powell, Professor of Sociology, Organizational Behavior, Management Science and Engineering, and Communication (by courtesy), Stanford University
  • Alan Smith, Global Head of Risk Strategy and Chief of Staff, Global Risk, HSBC
18:30-19:15 Drinks Reception at Cambridge Judge Business School
19:30-22:00 Risk Summit Dinner at Christ's College
Dinner Speaker: David Spiegelhalter, Winton Professor of the Public Understanding of Risk, University of Cambridge

Day two | Tuesday 18 June 2013

08:30-09:00 Risk Summit Registration & Coffee
09:00-09:15 Risk Summit Welcome and Introductions
Andrew Coburn, Director of the External Advisory Board, Cambridge Centre for Risk Studies and Senior Vice President, RMS
09:00-11:00 Plenary Session 1: Risk Strategy and Value Of Risk (VOR)
09:00-09:30 Joining up the Dots; What Anthropologists Can Teach Risk Managers
Gillian Tett, Markets and Finance Commentator & Assistant Editor, Financial Times
09:30-10:00 The challenge of simulating and understanding systemic risk in financial markets
Doyne Farmer, Professor of Mathematics and Co-Director of Complexity Economics, Institute for New Economic Thinking, Oxford Martin School, University of Oxford
10:00-10:30 Value from risk through informed tradeoffs
Martin Pergler, Senior Risk Expert, McKinsey & Co
10:00-10:30 Risk Summit Day 2 Panel: "Against the Gods" - Exploring the Strategy Side of Risk
Panel Moderator: Gillian Tett, Markets and Finance Commentator & Assistant Editor, Financial Times

  • Doyne Farmer, Professor of Mathematics and Co-Director of Complexity Economics, Institute for New Economic Thinking, Oxford Martin School, University of Oxford
  • Andrew Freeman, Risk Fellow, Cambridge Centre for Risk Studies & Managing Director, Cambridge Research Associates Ltd
  • Ashley Hirst, Head of Science, Global Distribution and EMEA at AIG
  • Martin Pergler, Senior Risk Expert, McKinsey & Co
11:00-11:30 Coffee break
11:30-13:00 Plenary Session 2: The Upside of Risk
Chair: Sven Heiligtag, Principal, McKinsey & Company

  • Are Risk Analysts Too Reward-Averse?
    Gordon Woo, Catastrophist, RMS
  • Risk Pricing Mechanisms: Reconciling Science, Risk, and Opportunities
  • Mike Maran, Chief Science Officer, Catlin Insurance
  • Phoenix from the Flames: Reinvigoration through Catastrophe
    Charles Scawthorn, Principal, SPA Risk LLC and former Professor of Kyoto University
  • Influence of International Clusters to Global Economic Development
    Haresh Shah, Chairman of ARC, Advisory Board, ICRM & Emeritus Professor, Stanford University
13:00-14:00 Lunch at University Arms Hotel
14:00-15:30 Plenary Session 3: Risk as an Evolutionary Force
Chair: Peter Ulrich, Senior Vice President, RMS

  • Survival of the Reckless: Risk, Structure, and the Law of Unanticipated Consequences
    Michael Jacobides, Sir Donald Gordon Chair of Entrepreneurship and Innovation, Strategy & Entrepreneurship Department, London Business School
  • Biological Perspective of Resilience
    Gerard Evan, Head of Department and Professor, Department of Biochemistry, University of Cambridge
  • Financial Innovations, Market Crises, and Institutional Changes: Causes or Consequences?
    D'Maris Coffman, College Lecturer, Newnham College and Director, Centre for Financial History
15:30-16:00 Coffee Break
16:00-17:00 Plenary Session 4: Crisis as Opportunity
Chair: Andrew Palmer, Finance Editor, The Economist

  • Why are Poor Countries Poor and Rich Countries Rich?
    Tiago Cavalcanti, Senior Lecturer, University of Cambridge Department of Economics
Risk Summit Day 2 Panel: Emerging Opportunities in the Midst of Crises
Panel Moderator: Andrew Palmer, Finance Editor, The Economist

  • William Dick, Consultant, World Bank and Consultant & UN World Food Programme
  • Tso-Chien Pan, Professor and Executive Director, Institute of Catastrophe Risk Management (ICRM), Nanyang Technological University (NTU), Singapore
  • Will Pearson, Director, Eurasia Group's Global Energy and Natural Resources
  • Geir Westgaard, Head of Political Risk and Head of Security Threat Assessment Centre, Statoil
17:00-17:15 Summit Closing Remarks
Danny Ralph, Academic Director, Cambridge Centre for Risk Studies, University of Cambridge Judge Business School & Professor of Operations Research
17:30-18:30 Drinks Reception and Cambridge-McKinsey Risk Prize Award Announcement

Speakers

  • Gary Bowman, Research Associate, Cambridge Centre for Risk Studies
  • Fabio Caccioli, Research Associate, Cambridge Centre for Risk Studies
  • Tiago Cavalcanti, Senior Lecturer, University of Cambridge Department of Economics
  • David Champion, Senior Editor, Harvard Business Review
  • Dr Andrew Coburn, Director of the External Advisory Board, Cambridge Centre for Risk Studies and Senior Vice President, RMS
  • D'Maris Coffman, College Lecturer, Newnham College and Director, Centre for Financial History
  • Mark Davies, Head of Group Risk, Rio Tinto
  • William Dick, Consultant, World Bank and Consultant & UN World Food Programme
  • Gerard Evan, Head of Department and Professor, Department of Biochemistry, University of Cambridge
  • J. Doyne Farmer, Professor of Mathematics and Co-Director of Complexity Economics, Institute for New Economic Thinking, Oxford Martin School, University of Oxford
  • Andrew Freeman, Risk Fellow, Cambridge Centre for Risk Studies & Managing Director, Cambridge Research Associates Ltd
  • Louise Gutteridge, Events and Operations Manager, Cambridge Centre for Risk Studies
  • Sven Heiligtag, Principal, McKinsey & Company
  • Ashley Hirst, Head of Science, Global Distribution and EMEA at AIG
  • Roman Hohl, CEO Asia Risk Centre and Deputy Director, Institute of Catastrophe Risk Management (ICRM), Nanyang Technological University (NTU), Singapore
  • Michael G Jacobides, Sir Donald Gordon Chair of Entrepreneurship and Innovation, Strategy & Entrepreneurship Department, London Business School
  • William H. Janeway, Senior Advisor, Warburg Pincus
  • Christoph Loch, Director, University of Cambridge Judge Business School & Professor of Management Studies
  • Michael Maran, Chief Science Officer, Catlin Group
  • Andrew Palmer, Finance Editor, The Economist
  • Tso-Chien Pan, Professor and Executive Director, Institute of Catastrophe Risk Management (ICRM), Nanyang Technological University (NTU), Singapore
  • Will Pearson, Director, Eurasia Group's Global Energy and Natural Resources
  • Martin Pergler, Senior Expert, McKinsey & Co
  • Walter W. Powell, Professor of Education and Sociology, Organizational Behavior, Management Science and Engineering, and Communication, and Co-Director of the Center on Philanthropy and Civil Society
  • Louise Pryor, Researcher, Cambridge Centre for Risk Studies
  • Daniel Ralph, Academic Director, Cambridge Centre for Risk Studies, University of Cambridge Judge Business School & Professor of Operations Research
  • Simon Ruffle, Director of Technology Research, Cambridge Centre for Risk Studies
  • Michael H. Salama, Vice President, Corporate Tax & Lead Tax Counsel, The Walt Disney Company
  • Sam L. Savage, Consulting Professor, Stanford University and Executive Director, ProbabilityManagement.org
  • Charles Scawthorn, Principal, SPA Risk LLC and former Professor of Kyoto University
  • Haresh Shah, Chairman of ARC, Advisory Board, ICRM & Emeritus Professor, Stanford University
  • Alan Smith, Global Head of Risk Strategy and Chief of Staff, Global Risk, HSBC
  • David Spiegelhalter, Winton Professor of the Public Understanding of Risk, University of Cambridge
  • Gillian Tett, Markets and Finance Commentator & Assistant Editor, Financial Times
  • Michelle Tuveson, Executive Director, Cambridge Centre for Risk Studies
  • Peter Ulrich, Senior Vice President, RMS
  • Geir Westgaard, Head of Political Risk and Head of Security Threat Assessment Centre, Statoil
  • Gordon Woo, Catastrophist, RMS
2013 Risk Summit Sponsor Logos