19 Burst results for "Chief Risk Officer"
Protect & Assist - An Interview with the Head of the Australian Cyber Security Centre
"As you've said, I hit the styling Sada security security center. Now am missions pretty. But it's also pretty simple. It's to Mike Strategy of the safest place to connect. Online and do business online and out at prime responsibilities really to protect old parts of the Australian economy from the beginning of business to government critical infrastructure provides small medium enterprise and individuals and. Families get on with life online, which as we know in Grad example is the way that wearing gauging today is an increasingly important very much. In Lock wise I agree with we wouldn't normally have reached out to you. So readily you've come from that mentioned a bit about your background you've been in the role to six months and you came from the National Bushfire. Recovery Center of go committee ought not to show that the Prophets Dada was, but you've come from a, is it across? into. What we obviously absurd at the same time as I saw across the. Up Tyke in Saada crime and saw active duty during covid nineteen has the right thanks I fire. I'm assuming you're Ri- You're enjoying it or you're funding it the challenge that was made to be it's I have to say the people that work here who mice distractions. made to ever speak to some of the most incredible human beings having encountered by in terms of their incredible. Personal drive towards that mission and really advancing Australia's interests but also the technical capability which is second to none. You. You mentioned I had come from the National Bushfire Recovery Agency, actually not a dissimilar function in the sense that you're trying to engage h very different sectors of of the community who've been affected by That's materialized and assist them to get back up on their fate again, actually to build resilience, it's just the context he's. Prior to that I was the head of the national. Security Division Prime Minister and Cabinet had some timing critical infrastructure. Yeah. In High McVeigh's and. Inaugural Chief Risk Officer for the Department of Homeland Phases Wales. Postings looking after Europe and sub Saharan Africa region it sounds like a WIG background but look the headline is this a love a good crisis? Could us a find that the same skill set? Of Translating. Deriving problems into their various segments responding to each one of ours always having a plan or campaign or or an operational approach assists in obviously having a a a defense background helps that way and and and of course, the May you quite rightly point out. I don't have a long technical history but. I said twenty million constituents across the economy. The vast majority of dying Ada semi bottom line is if I'd. It how customers and I think that kind of balance swelled.
Intellectual-Property Assets Are Getting More Valuable
"As a foreign intelligence agency were responsible for understanding a broad range of threats. Presented by governments to the United States, one of those threats include our cyber threats how nations may be using cyber to achieve their national objectives that might be intellectual property theft for example, to counter department offensively valid by accelerating foreign governments ability to actually productized particular RDA for weapon that may be targetting critical infrastructure of a country. As part of threatening that country or as part of putting pressure on a given country. How are we doing against the cyber threats are we? Barely keeping up, are we catching up? Are we getting ahead of the game or? Is it always going to be hard for the defender. Overall technology is getting more secure. Technologies Belt more securely today. So. The fundamental resilience is is improving known. You have open source products. We have lots of is looking at a given technology and helping find vulnerabilities and address them. That being said for an ever-more connected economy in ever more connected society, and as we build more connections, sometimes systems that were not necessarily built for those kinds of connections we bring and introduce new risks on the third poll the positive side there's far more awareness about those risks and how to approach addressing them identifying what are the most important assets to protect. Seems to be an effort on the part of NSA to kind of open up a blackbox and Kinda shut the reputation no such agency we want to be trusted to achieve or we believe we can uniquely contribute to team USA on either the first step. Is conveying who we are conveying the culture. That's here the commitment to American values. Certainly. When a part of our mission is an intelligence mission in a democracy, you have an obligation to ensure that the Americans. We serve feel they understand the values by which we live. And neuberger is the current director of the national security. Agency's Cybersecurity Directorate. She has held a variety of jobs in both the public and private sectors. We just sat down with an to talk about her career, her and her director. It's multiple responsibilities and how she sees a cyber threats facing our country. I'm Michael Morale and this is intelligence matters. So an welcomed to intelligence matters, it is great to have you on the show. It's great to be here. So I think the place to start and is with your career before you joined the national security. Agency. You had a career in the private sector. Can you tell us about that and tell us what you did in the private sector and then what drew you into government, service. Sure. So I was in running technology at a at a financial services company during that time period when financial services companies really moved off mainframe environments to the Web. Decline server technology. So that piece of both taking an operations and emission and its associated technology and people and culture really Shaked shaped the way I approach a lot of those problems today. And I was raised in in a family where my dad came as a refugee all my grandparents came as refugees to the US and they just. Constantly instilled in US how grateful we should be for the opportunity to be born in America and raised in America, with its freedoms with its ability to pursue one's dreams and and that we owed it for that and. I was driving home from from work in. In two, thousand six, we just done a large acquisition of. Companies of banks, custodian operations. And on the radio, they were talking about the bombing of mosque. Samara Moscow in smaller rock and just the. Soldiers dying civilians dying and the troubles there and I I still don't know why but I thought of my dad and. That's myself. Perhaps now's the time to repay a little bit of of that in some way and. I've been a graduate student at Columbia had a I had a professor tell me about the White House fellows program and encouraged me to apply and I kind of I have to admit was a bit of the New Yorker Countless New York ever. kind of put that aside and for whatever reason I just felt that calling at that moment called him and said I'll apply and fast forward I was assigned to the Pentagon. With zero military background. And you learned a lot about the culture very drawn to that shared commitment and spent a year in the Pentagon worked for the navy and then came to NSA. Couple years later. What did they doing at the Pentagon and the Navy? So I was the deputy chief management officer, the Navy essentially, the Navy had a number of broad enterprise wide technology efforts which they were working again, bring that you people mission. Technology Triangle. And they asked me to help work on a couple of working directly for the secretary of the Navy figure out why a of them were struggling and then help them get on track. So I worked on that and I often get asked by people. How did YOU END UP AT NSA? A pretty funny story in that I had a seventy six year old and I was commuting from Baltimore and the. The work life balance was a bit tough and I met somebody and he asked me about. How he was doing and I commented that I really love the work but it was a little hard for me to do the juggle. And he said, you know I happen to know that NSA standing up you director NSA standing up cyber command and I know they need people with your kind of of background. So how about if I make a phone call there? And I went for an interview commute was thirty minutes and it sounds so foolish but. That was pretty much what it took. Interesting interesting. So the private sector and then the Department of Defence which is as you know this huge enterprise and then NSA and this is a this is not an easy question I know about kind of the similarities and differences of those three different experiences. It all begins with people. In every organization missions have to adapt and change They adopted change in the private sector because perhaps you have a competitor, perhaps the customer spaces adapted. Certainly financial services saw that we're the scale of data was just increasing the scale of trains was increasing and the traditional manual processes couldn't keep up. So we automation with needed to reduce errors and help us keep on track with we're trading was going. Technology could deliver on that, but the the business of the organization had to change to fully take advantage of the technology and the way people did that mission and use technology had to change along the way. So I think in each of those organizations that taught me that for that, that triangle has to be kind of guided together to get to an outcome mission technology and people if you really want to be able to fully. Whether it's take advantage of a market or stay ahead of an adversary in our own mission here in the ICU dod that triangle has to work together and you have to communicate every those three planes together when talking about why the changes needed. So an in your tenure at NSA, you've served as its first chief risk officer. The assistant deputy director of operations, the head of the Russia's small group, and now the head of the Cybersecurity Directorate. Can you take us through your trajectory there how did your responsibilities differ from roll to roll? Absolutely, and so I came into an Santa's small team part of a small team that was standing up cyber command, the chief risk officer role was. was created after the media leaks period of two, thousand, thirteen where we learned that. Really appreciating risk mount looking at in a holistic way across partnership risk operational. Risks Technology risks. We learned that we needed to adapt the way we looked at risk and then change according to that. So I think in each of those roles. Either, the adversary was changing around us a threat was changing around us. We. Wanted to take advantage fully of an opportunity and I was responsible for taking the big picture strategic goals, translating those two measurable outcomes and objectives and helping you know contribute, communicate the why and then bringing the team of people along to get their each other's efforts was a bit different. But you know. We talked about the risk of doing the risk of not doing weighing that appropriately we talked about the insuring that as we approached new missions policy and technology move together, and certainly when we looked at the elections work in two, thousand, eighteen, the Russia's small group work we saw we're adversaries of have used influence operation since the time of Adam and Eve perhaps would have changed was again the ability to use social media to both focus and directed to have larger impact. So focusing on the Russia's small group for just a second and what was that what was the what was the mission and what were your responsibilities with regard to the two thousand eighteen election's to the extent that you can talk about that. Absolutely. So the mission was ensuring the integrity of the two thousand eighteen midterm elections ensuring that we I understood the threat second that we appropriately tipped all the information we had about the threat to key partners across the US government. Certainly, FBI from a counter infants perspective digest from Cybersecurity of elections, infrastructure perspective, and they finally that we would support Cyber Command. If if authorized to impose costs, it's were attempts to disrupt. Disrupt the election. So. After the two thousand eighteen election's president trump publicly confirmed that cyber command played a role in deterring the Russians in two thousand eighteen are they're important lessons from what happened in two thousand eighteen about how we as a country can defend ourselves against this this insidious threat. Yes. So you know across the government, we look at two key polls. Integrity one is attempts to malignly influence population whether that is to highlight social discord to highlight issues that divide the population or to. Hand up sheer inappropriate. You know share information as part of shaping individuals ideas, and then the second is potentially interfering hacking into elections infrastructure as part of efforts to change the vote and I think the first pieces, the value of resiliency. The sense that you know once trust is lost, it's very hard to regain. So the knowledge for the American public that there are hundreds of people across the US government committed to and working to ensure the integrity of our elections. When it comes to counter influence though the biggest resilience as each of us. As Americans when we're reading something asking who might be trying to influence me what is the source of that information I fully confident in that source of that information. And then finally the role of the role of technology and the role of Public Private Partnership. In as part of elections integrity. So for us in the intelligence community were constantly watching for which adversaries maybe seeking to to shape a populations thinking to shape an election and then rapidly tipping that to partners or. To the private sector to ensure that they're both aware of techniques and our countering them on their platforms. So we've since learned shocked last week the updates from deny that the Russians continue to engage in election interference, the Chinese, the Iranians, and the punchline of all that for me is it's really hard to deter. Foreign interference right and I'm wondering if it's something special about foreign interference or if it's more about cyber at the end of the day and the difficulty of seeing cyber attributing it if you see it, how do you think about that question absolutely I think it is more about cyber than about elections from a cyber perspective when we look at fully both protecting cyber infrastructure and then to your second point about attribution, there's complexity laying what we call the red on top of the we may see threats. That are talked about strategic perspective and then we partners across the US government a looking to see where does that present itself? Where are the given vulnerabilities in a given infrastructure? The powers when you can lay the two together and say, here is a nation state that has intent to interfere in whatever that is an election critical infrastructure. I Pete Best and then translate that to the tactical level to say that network scanning or that vulnerability in hardware or software may well be used to achieve the objective putting that in place, and then most importantly preventing it because at the end of the day riding report about a victim and notifying the victim is far less satisfying than being able to put that together and prevent the adversary cheating their objective. So we've already started to shift now into your new role, right which was relaunched in October I believe. So be great if you could, and if you could explain for our listeners I, what NASA's two main missions are. Again and then cybersecurity and the difference between them just to give folks here level set absolutely. So Ns as a foreign intelligence agency were responsible for understanding a broad range of threats. Presented by governments to the United States, one of those threats include our cyber threats how nations may be using cyber to achieve their national objectives as that might be intellectual property theft for example, to counter the department defensively Thallady by accelerating foreign governments ability to to actually productized particular rnd for weapon that may be targetting critical infrastructure of a country. As part of threatening that country or as part of putting pressure on a given country. So that is the threat information on the second side. And say has cybersecurity mission. We're celestial known We build the keys codes and cryptography that's used to protect all of US government's most sensitive communications thinking nuclear command control weapon systems, the president's communications with allies, and we provide technical advice to mitigate those same threats that I talked about. So the really the he integration of the two missions where we think the magic is where we can say here's what we think adversaries are seeking to do, and here's how from a cybersecurity perspective we recommend you protect against. So so what motivated and the relaunch of the directorate and has its mission changed at all really good question. So we recognize that we were at a crossroads with national security as both technology and society ships were happening. We saw only kinds of technology that people want to from small satellites to Internet of things and each of those presents huge advancements. But they also present cybersecurity risk. Along with that, we saw various nation surtees. New Technologies think North Korean crypto currencies to get around sanctions to achieve their own objectives and we said we really need to up our game to more quickly be understanding those threats and ensuring that. We could both provide advice to build new technologies as early as possible, but also to counter adversaries use of those same technologies to achieve their national security. We're GONNA take a quick break to hear from our sponsor. Dumb. We'll be right back with more discussion with an neuberger. At Lockheed Martin, we're on a mission. Your mission. Not just the next mission but the one that's two steps ahead. That's why we've not only taken the lead in hyper sonics, but we're helping you integrate technology faster than. It's why we're not only developing the laser weapons systems you'll need but deploying them in the field. Our mission is to build the integrated solutions you can depend on because the world is depending on you. So and what are the what are the primary areas of Focus for your directorate? What kind of people work there? What's their skill set and what kind of customers do you serve? Questions. So the first parties. Operationalizing Intelligence. How do we ensure that from the intelligence that we see we took anything that's unique. And timely quickly so that we can prevent the victim. So that's the first, the first piece of of work, our areas of focus are. Both understanding that giving guidance encryption, we believe encryption. A key protection particularly in telecommunications environment that in many cases is entrusted. So both in building the government's special encryption, modernizing that as well as providing advice and insights on how to best use. Encryption the text of people who work cure are like we see him any organizations abroad gamut we have intelligence analyst. We have country-specific experts have a broad swath of technical experts, encryption network technologies, hardware, and software vulnerability analysts as well but the power is weird that can be integrated where you can say. How do you build on route of trust all the way through to an end point? Had you properly defend network and take a step back and do risk analysis to say? We are the gaps in your resilience and we're should your next dollar investment to closest gaps Right, and then what about customers is your is, is it just the Department of Defense? Is that the US government is even broader than that? How do you think about who it is you're working for? Yup Great Question. So there's a specific set work we do for what we call national security systems systems carrying classified information national security information the director. Vanessa is also the national manager for National Security Systems, that's the authority under which as I mentioned, we have we build the keys codes and cryptography responsible for distributing threat information as well. So those are across the US government with a particular focus on duty. Weapons Systems. And Related Systems. A second set of key partners and customers are dhs I. D. H., S. and its role supporting critical infrastructure. And, the sector specific agencies, and like I said the the real magic of understanding the critical infrastructure, we're it's key gaps and vulnerabilities are and being able to marry that up with what a foreign government may be intending to do and providing focused insight. Across the US government, there is broad use of commercial technologies, particularly duty and and national security system. So you may have seen when we're issuing advisories were also issuing advice on how to secure and configure those commercial technologies well because we see that. Those are used all across. Sensitive, systems as well. Your director has issued I think a dozen or so. Advisories about cybersecurity threats. Can you talk about why you guys do that? What the criteria is for quitting one of those out and then how do you think about the impact they have? Do You keep metrics on that? How do you think about? Advisories absolutely. So. Our advisories other way we really do them for three reasons. One is if we see a nation state actor using a particular vulnerability against the system care about we find that it really drives urgency of action people run faster when they're pursued, and if we can say, this nation state actor is using this vulnerability. Here's the mitigation advice to protect yourself against that we see impact and I'll talk about that how we measure that impact at the end. The second thing is there's a deep expertise here because we build and we break encryption. So encryption related technologies like the peons like you. You may recall the windows ten cryptographic vulnerability in January. Those are areas we focus on because we know those are sometimes hard to understand technically hard to implement. So if we can give very practical advice, them will issue those as well to help that be put in place, and then the third would be where there's a timely need and we're getting a lot of questions and we feel that putting out a product helps guide people and thinking about how to think about security I'll give an example. As. As covid. Pressed a lot of organizations across the US government particularly duty as well to move to telework. We started getting a lot of questions about secure collaboration. which commercial tools were safe to us and our goal was teaching people how to evaluate what safe to us. So we issued a product we're laid out the different attributes like. Code is available for review its end to end Krypton and a few other such attributes, and then we rated different secure collaboration publicly available tools against them and the cool part was we had companies call and say, well, you didn't get something quite right or can we be included as well and we said absolutely, we issued a second version and then we have another one coming out next week because our goal was making it as useful as possible and also helping teach people. How to assess. Different. Products for security. You ask the question about how we measure impact. So there's three different measures we've been using. The first is, do we see patch rates go up? They'll do we see for vulnerabilities that we've talked about here is a foreign actor might be using a boehner ability to achieve an objective. Can we watch those patriots go up and it was really cool to see. And a number of cases we've we've watched that increase. The second piece is there is a very capable and active cybersecurity industry has the information shared enable them to better protect. Sensitive US government national security systems networks, and you know in the case of the Xm vulnerability that we issued, we're advisory where we talked about the particular unit of Russian intelligence using the XML male vulnerability. It was really great to see five different cyber-security entities using that to identify other. Russian intelligence infrastructure and then take that down. So that was success for us that we made it harder for that adversary to achieve its objectives, and then the third one is really the feedback on the number of downloads and the feedback from administrators saying this was useful. This was unique timely and actionable could act on it, and then in May you guys took what I thought was an unprecedented step of actually openly attributing the exploitation of vulnerability to the Russian, Gru. and. That seemed to rare to me and I'm wondering why you decided to actually name Russia in this instance. So I it is rare because as you noted earlier, implicitly attributions hard. You may have seen a prior product where we highlighted one st state using another country's. Infrastructure to achieve its objective and then highlight he just hard attribution is. So when it's done, it needs to be done with precision to be confident. In that and we chose to do it because. We see that it makes targeted network owners more quickly patch and secure and build the resilience of their systems network administrators have way more vulnerabilities to address than they have time for or frankly money for and way more alerts than they can act on. So we can say this particular vulnerability is being used by a nation State Intelligence Service. We see them we see network administrators moving quickly and addressing it, and that's a fundamental goal. Fundamental goal is improving cybersecurity. If you kind of step back and look at look at the big picture here, you know, maybe from a thirty five thousand foot level how are we doing? The cyber threats are we barely keeping up? Are we catching up? Are we getting ahead of the game or? Is it always going to be hard for the defender. In this game in because the guy on the offense can always come up come up with something new how you think about sort of where we are in the history of of the threat of cyber and defense against it. I think we points overall technology is getting more secure. Technologies built more securely today. So the fundamental resilience is is improving you know when you have open source products, we have lots of is looking at a given technology and helping find vulnerabilities and address them. That being said were an ever more connected economy in an ever-more connected society, and as we build more connections, sometimes two systems that were not necessarily built for those kinds of connections. Data Systems. In that way, we bring and introduce new risks. On the third poll on the positive side, there's far more awareness about those risks and how to approach addressing them identifying what are the most important assets to protect and ensuring good practices are in place and it's far easier than ever to put that in place. So I think it's a mixed story on the one hand more more technologies built more securely, and there are communities of individuals working together to ensure their secure on the other hand far more. Technology some of which. Is connected in ways that bring risk in ways that we always have to and I guess the third part, which is where we started adversary seeking to take advantage of those risks to achieve their objectives. So. If you if you were standing in front of a large multinationals board of directors in you're talking to them about cybersecurity. What's the one or two things that you would absolutely want them to take away from from your conversation? What is the tangible thing you most want to protect and what's the intangible thank you most want to protect. So if you're drug company, what is the intellectual property that's going to be your next potentially big drug big driver of economic growth, big driver of healing, and then second what's the biggest intangible? Thank perhaps, that's your reputation. The way you treat your employees, the price, the prices that you charge and what you're, what you're. How much you mark that up. Make sure that you're protecting both carefully make your your cyber security commensurate with with the risk presented to you if you lose either one. And you mentioned you mentioned Skater Systems and I'm not sure that all my listeners know what those are just explain that and then is there something? Is there something special about protecting data system from protecting? Normal network absolutely. So Skater Systems are essentially control systems for the core areas of infrastructure in a given country in a given company. So think power systems clean water drug manufacturing. and. Those are. Those are often complex system. So what's unique about them is you know those systems over the years were often built four reliability in the event of a bad storm that power system would come back online with confidence as. More technologies got connected. So for example, the ability to measure. Use of power the ability to measure confidence in in water and chemical level. Some of those systems got connected to network systems that provide a way to access them. One of the joint products we recently issued between Ns. WAS An ICS product because there had been some public articles about. a given attack against skater systems in the Middle East, and we wanted to ensure that we together with. One of our closest partners was providing technical advice to. Skate entities in the US based on what we were learning about those attacks. So interest, a couple more questions you've been terrific with your time. Seems to be an effort on the part of an essay to kind of open up the black box and showed the reputation no such agency right. Your conversation with me thinking example of that why is that a priority for for the agency and for General Nakasone? I in the cybersecurity mission fundamentally if we're not trusted we can't achieve our intact. People take advice from those they trust and the power of. Across the US Government Team USA work cyber. There each organization plays its position within that role. You Know My counterpart at Digest Chris Crabs often talks about them being the national risk managers. At an essay, we believe what we can bring uniquely is that integration of intelligence series of seeking to do what their capabilities are, what their infrastructure looks like and how to defend against cyber security advice to counter that, and that's always continuing because technologies change adversaries, goals change, and the resilient always has to be increased to meet that. So we want to be trusted to achieve what we believe. We can uniquely contribute to team USA on cyber. The first step to doing that is conveying, we are conveying the culture that's here the commitment to American values, and certainly WanNa part of our mission is an intelligence mission. In a in a democracy, we have an obligation to ensure that the Americans we serve. Feel they understand the values which we live. So your your former colleague and my really good friend Glenn Gerstl road. Op Ed about a year ago about what he saw the. Profound implications of the Digital Revolution on national security, and he raised a lot of concerns and among those was the sheer pace and scale and volume of technological change and. And data that's GONNA force intelligence agencies including NSA to fundamentally change how they do business I was GonNa say thinking big picture about those kinds of challenges. What are you trying to tackle I? Would've the adjustments look like, how do you? How do you think about the challenge that Glenn laid out? Absolutely, so I from the perspective of large amounts of data and ensuring, we can make sense of them. Ensuring that we can do big data analysis to help. Triage the information we identify and determine what are people are big assets put their time on to determine he's and how to act on them. So for example. We we're looking at machine learning to classify malware and we're certainly looking at. Machine learning potentially to help us identify vulnerabilities scale particularly when we look at systems that represent thirty years of technology like muffins systems, how do you secure a weapon system? That's been out there and represent each phase of technology and have confidence in its resilience and in command and control. And then finally. We have an obligation to both bring those technologies to be on our mission and understand how adversaries might use that and manage that accordingly. So for example, as we think about artificial intelligence and the potential to automatically. Direct weapon. In the United States we have strong values around how we would think about automation versus human control. In other countries around the world, there might be different ways that those kinds of decisions are approached. So how do we ensure that we both? Bring that integration of. Compliance and technology to the way we pursue it but also be aware of those gaps and keep an eye on the risks of those gaps. And you mentioned you mentioned people and you mentioned people a couple of times and and just took two questions about that. One is given the competition that you face with all of these cyber security firms and. Your folks must be very attractive to them, and their skills are quite valuable in their private sector. How how difficult is it for you to recruit and retain talent? Really thoughtful question because you asked two questions in their recruit entertained. So. From the recruit side, we get really great people. On the routine side. We have a really compelling mission. and. What brings keeps people. Here is the sense that they're contributing to something bigger than themselves. That is challenging fulfilling. It's on us as organizational leaders to ensure that each person has that opportunity to contribute what they can uniquely bring chew to that mission. And one of the one of the cool aspects of the Cybersecurity standup has been people who have left to call in and say, Hey, I'd like to come back I learned a lot. In the private sector, the missions, calling me and like to contribute again, and we've hired a number of them back and continuing to increase that and part of the message we have when people if people do decide to leave is to say that is great. You will continue to contribute to the nation's security. You'll learn a lot in the five at sector, and if you ever want to come back the doors open. What do you? What do you want the American people to know about the women and men who work for you. That, they're committed to the values. That this country was established for. That there are significant threats to the United States, our allies and to those values, and that not always can we talk about those threats because? By impact sometimes intelligence community, even the security mission has to operate in those shad in the show does so. Trust our values, trust that we are proud Americans. We swear an oath to the Constitution of the United States, and if you do question it or if you want to learn more roll up your sleeves and come into the for a few years and get to know what yourself because each person has unique abilities and a unique ability to contribute to their to their country in whatever way they choose whether that's government are in the private sector. But if you ever doubt it come on in and work here and and raise your voice and be a part of it. It sort of takes you back to what your parents taught you to. It really does it my dad grew up in in communist Hungary and In the beginning when I came into government, he would call me on the phone sometimes and switched to a foreign language and. I realized that for him growing up in another country. Is that complete trust of government that I American born? You know have that doesn't mean it's trust and verify it's from verify but there are things that I take for granted growing up in this society that I don't know if he ever will. So being able to look at things through his eyes and through mind make me realize how fortunate we are to be here and how much we have obligation to. To ensure it stays that way. And thank you so much for joining us and thank you for your service. Thank you so much for your time.
"chief risk officer" Discussed on Starter Marriage
"Think it's a pretty shade numbers like that Shit is Crimson, red? Blood pillar as covered in tattoos. APSO. It's really did it was tattooed nabbed. He was also a dare when. He was a bad liar he lied to. Wasn't even going. His first lie was his agent tender. He wasn't thirty nine. He was forty two and a half, and then he wasn't a chief risk officer. He was a bartender. He was a bartender. Kudos to have also had children are I got. Ya episode too bad bartender because. That's a lot that's asked his person red flags. Ain't the deck Yeah, so like I truly went to tender. With just maybe the wrong premise of what it was, and then I adjusted and I. Really Truly hit my hit my stride in Chicago, fucking nail tinder, but it was only after Grayson I had to do a complete and total revamp of my tender, and she had to really blew me into the fact that I was doing it very very wrong. Yeah and honestly your profile can be whatever is true to you I actually. Decided that I was Gonna go on tinder. Like one afternoon and I didn't actually give a shit that much about it, so Sarah was trying to find people and she was like I'm divorced. Number like. I literally just copy and pasted my instagram out. Put it in my tinder mile, and that's what it was, but I did make sure that there were. There were things in there that people could comment on like. My current bio is like lover of modest mouse, vinter, drugs, Tattoos and street are I plan bass weddings, but uh. Recovering political junkie like the best states that I got were people who commented on like facts I was applicable junkie or like. That I liked whatever band was in there. I've always had the same sort of. instagram bio I just like swap out things sometimes, but there was enough in there that you could have a meaningful conversation with me and know who I was sort of as a human, but nobody's GonNa. Read like a huge paragraph. Literally no one cares looking at your picture, and like maybe glancing for like ten seconds at what you wrote like. Don't put too much information in there. It's just gonNA. Fall on deaf ears. They're going to be like. ooh, she's a little bit desperate. There's nothing wrong with a little bit desperately. Wrong are and I think if you if someone tells you. Oh, you come across as desperate or oh, the seems really desperate. A they need to shut down. Be. You're you're kidding yourself? If you're not a little desperate in life to find love I I don't think any of us have hit this earth and gone I..
"chief risk officer" Discussed on Masters in Business
"And, you know, the Bernstein managers specifically loose Andrews is an investor himself the CEO at the time they rode financial services down all the way to the bottom because they were looking for that. You know, they talk about the sustainability of earnings with growth companies, and they talk about the recover ability of earnings with, with value companies, and so, you know, fundamental active managers, I think, at the time we're just riding the wave to see if they can pick up some assets at the cheap and. It was a very very tough rides for a lot of investors. So I think part of it was trust. I think a lot of it was risk. Mitigation. Coin interesting. So again, looking at the lack of faith in the institutions is that something that eventually comes back or is that a permanent scar and people change their behavior for generation? Yeah, yeah. No, I think ten years later, I think it has bouncing back. And I think part of it is, you know, government led because of everything they've put in place in terms of safeguards, meaning the, the regulatory environment or the Federal Reserve environment. I think the regulatory environment in terms of the requirements that they have. So they forced some of it, and I think, CEO's, I mean, now on the executive committees of organizations, whether it's a Bank or asset managers, the chief risk officer reports to the CEO, and that wasn't a position than necessarily exist. It didn't so and I agree with that, right? I mean, the general counsel reports is CEO. Why shouldn't the chief risk officers? It's we are stewards of our clients capitals. We are fiduciaries, we need to take that particular function. Seriously? And so, you know, whether it's did the different governance structures for running an ETF business or fundamental active business. I think whether it was regulatory, you know, pushed or forced upon or firms just taking this more seriously and it becoming a key role of the CEO. I think that we certainly those institutions are starting to earn back trust ten years later. Run the risk when we elevate the chief risk officer to that cease wheat with the CEOs ear of stifling innovation or making companies risk averse. Sure, no one. I think that's a great question. And I think it has to. And we, we talk about this a lot. How are funds that I think, thankfully with struck the balance because the portfolio management teams on the fundamental active side. Are you know there's a little bit of a push poll there? Right. So our chief investment officer Christian Mamani. You know, he, he works very, very closely with our chief risk officer on behalf of making sure that we don't do just that, that we give the prudent degree of freedom. Now, how do you define prudent degree of freedom? No leverage. That's how I define. And, you know, I mean, really it's so much easier to get into trouble when you're running forty two one there, if you're putting out ETF's that are more interesting in, in the way they're assembled and built in. They're not relying on a tunnel ever. Ridge, there's really very modest risk then. Right. The product works, or it, doesn't it finds an audience or a dozen it accumulates assets or it doesn't, but none of you ATF's are ever going to blow up up in. That's, that's a non would never play. We would never say play that game. But that that was an our that was not our space. And I agree with you. It's tough. I don't think investors understand it. I don't think they understand the impact of the leverage. They're taking on. It's easy. If you're fifty to one and you drop to percents, you're gone. You're right, like wait a two percent. Drop wipes me out. Oh, I don't want leverage. That's bad thing. And I think everybody that was the one big takeaway, I thought everybody learned from, from the financial crisis. But you're saying risk is now thought of a little more differently at financial institutions. Absolutely..
"chief risk officer" Discussed on Stay Tuned with Preet
"But it's not courage, courage or something it sounds like you're saying is to self referential and too self conscious. Self possession is just you don't need other folks. And so you have the clear path, and you go and do the right thing you as opposed to having to put on sort of a brave air of fearlessness, which is what we think of courage being. I think people right. I start they sort of misunderstand courage in the first place is an absence of fear when we're courage really is, overcoming a fear encourages a it can be there. Sometimes. Not there other times in the strangest ways, I mean, like in the red badge of courage that the protagonist is a hero one time in a car the next, and it's the same character. Right. And I think that's probably I bet I bet people who spent a lot of time in battle have seen this that, you know, you don't never know what's going to provoke courage in a person. But so you're the answer is correct. But I think you know. No, you're probably more likely to be brave in situations. If you're also self-possessed, maybe it's a good analysis. So your book the fifth risk explained everyone what the fifth risk is. Let me explain it this way how how I came up with the title twice when I was working on the book, which is about essentially, though, the risks posed by the Trump mismanagement of the federal government. I asked people to list for me the top five risks. They were worried about once it was in the White House. And once it was in the energy department, and the first time a woman in the national Security Council said, you know, it was like terrorist attack with a nuclear weapon pen democ to natural disasters at once overwhelmed the country, and she got to five and she couldn't think of the fifth, and I thought that was kinda cool that she had had four in her mind. But she couldn't think of what the fifth was. And I got the energy department. I was talking to the chief risk officer of the department of energy, a fellow named John McWilliams who'd come out of the private sector with Goldman Sachs banker and he'd he. He'd catalog all the risks and the energy -partment..
"chief risk officer" Discussed on AM 1590 WCGO
"Host. Eric cabinet. All right. Welcome back. Welcome back once again to the radio, we're talking all about analytics as the rudder of today's enterprise, and we have such an interesting eclectic group of guests on the show today that something popped into my brain that is worthy of exploration. Which is you know, we talk a lot about data silos. And of course, the data warehousing business was really designed to pull data from multiple sources into one centralized location. The warehouse to enable analysis so you can do some good on data from various sources of various types, and so forth. Well, that really opened up into a much larger world that the whole world of big data. And so called unstructured data, which typically means data this not in a relational database designed for analysis, but in addition to the data silos, we have departmental silos. We have departments in large organizations that are unto themselves focused on issues. That matter to them. But the bottom line is that if you take a holistic view to Allen mccullers point from rogue wave you'll realize that the release should be sharing insights on a regular basis because what an analyst in the finance department. Sees could certainly have an impact on what the chief risk officer needs to be looking at. And how do you do that? So I think there are various ways you could do that to go around to our guests and ask each of them what their thoughts are. But I think it's really important to not think so much in terms of my department. My data my processes.
"chief risk officer" Discussed on FinTech Insider
"Can come from wizened x, MS, Celine gonna come from ways. The next financial instrument that's talks turned toxic gonna come from and it's like, I'm really, really happy that like my money is in a regulated Bank where I get to go. And I sat today with the chief risk officer and like what show through an explanation of how like Al calculations work. And it's just something that I think the Chinese markets going to have to adopt the game to have to realize that regulation is not about slowing down. It's about staying safe. There's a risk of reward balance though, isn't it? I mean, the one of the big problems with having everything in the regulated spaces, always being the, the consumer was losing reward. I mean, a lot of the savings accounts effectively cash always lose you money against inflation so that you can see why people would chase returns in the consumer market on Pitt's pay lending comes along and looks like invented something and so fly and many others. Initially with adult things of fintech, they were the ones that are attracting the big valuations. They were the one that everybody was getting excited by. But in the end, it just looks like any old lending business with a hedge fund buying. Loans could we can we talk a little bit. I mean, we can talk about that, but I also want to talk about customer service held out. We'll stadiums because I. There's a couple of Intex with some customer service problems. This may be the way Fullwood. Sorry, you had a sensible point. I it distracted by football stadiums. No, no, no. I think we can also talk about that, but that's, whoa, copes and something. No, but back back to regulate and finding by balance, super important. Right? Because the thing is that the space we move in, it will really, really quickly, right? So having to buy balanced, still able to actually protect consumers and know that there is some sense of security around that while at the same time letting Univation go forward. Because if you just let what big banks have been doing while we're not going to see a lot of innovation and actually things are not going to be that good for consumer. So having caught of conduct and actually sign on a game like huge shot through the work you're doing for GDF super important. And when the industry moves so quickly that you actually regularly to keep up, if the industry doesn't come together to explain, then you're stuck and that's pretty what's missing in China. P2P in China is like what they're leaving and breathing on, right. I mean, we shot is just like the way things are done, so P2P's completely ingrain, but then maybe what's missing is additional layer of actually, what do you do is funds when you're trying to work in regulation? Cone mood for the speed of technology. So you need to. Technologists, if link some full you and understanding the risks might be before the regulators have how jumps to keep up, like regulation moves in seven year increment. I think that's the case, but that's like saying we're gonna go outside of the rules until the rules can't shut with us. I'm not sure that's necessarily there. So you know, if you look at the in the UK to some degree, actually things like cloud computing actually were. Were put into what needs to be done, and we're going to work with a knoll on it to be in a situation. I literally looked to open Northland, the current event get validation of whether that was the thing on. So thank you for the note to to make sure that actually you can move forwards with it. So I think this comes back to you. What is the role of the regulator on that to be the referee in this game? We're all they to be setting the rules that everybody applies to you because really that lawing of is acceptable is continually changing and you seeing more and more regulations moving towards the sun box approach? Yes, the FCC did it, but the CFTC and the OCC in the USA monetary authority, a Singapore, Hong Kong authority, Australia. There are so many places. Now this the sun box approach is the knoll, like it's it's really become a thing whereby we recognize we need financial innovation, but we also need to control manage the risk and make sure that financial innovation today doesn't like it did in two thousand. And I think a lot of education is needed on all fronts..
"chief risk officer" Discussed on Recode Decode
"It and so if you take that same concept for media news cycles and corporate communications and more marketing teams it's the same thing right and what's really interesting is actually expanded beyond communications teams marketing teams and now it's much more part of the c suite the executive teams as they have to that affects employees it affects the stock market effects investors it affects everything yeah i mean we were at a at a large company back in new york a few weeks ago and the communications person brought to this meeting the chief risk officer the general council person from marketing if you think about it a few years ago if the head of coms went to you know someone from risk hey come to this meeting they'd say what are you doing because grammy press release now it's so vital right to accompany and so that's what we're gonna talk about this new product that you have that is about because it's not just managing your because there's like lots of different negative news articles or something happens that's bad for a company or bad quarter and they managed that they try to get the best message is out and stuff like that but you've started to look into the where of misinformation not miss him disinformation not a mess they're not just saying something stupid like talk about this new product that you're doing because i think that's one thing people have to have those capabilities going forward no matter what the first the first ones you talked about for sure i mean that's sort of table stakes nowadays and one thing that we saw so in the beginning of this year we started seeing some really interesting nominally and buy novelties i mean spikes in volume that didn't necessarily make sense or influencers and we said okay wise that person considered it in bright right and we gave the state data science team and they came back and they said look these are actually synthetic mentioned these are official these are not real people and so we sort of took a step back and we said okay well what's what's going on here and what we saw was there was massive amounts of body activity that were impacting corporate brands corporate reputation that had an impact on market cap all of these other things and when we dug in even deeper we saw these were all coordinated and to give you sense of the magnitude we literally have not found a company in the past six months that have not gotten hit with a major attack so those same four seven let's make this clear people have been concerned with hack attacks data to acts all kinds of things like that this is different explain what that is this is this for sure different although in some ways related because they're coming from similar types of nefarious actors but with this is people are spinning up fake accounts or fake sites and they're using that to amplify false news stories or negative news stories about a corporation and their use using that in order to really impact the bottom line of the company the company's corporation mutation so we found those same forces that were impacting our politics it's been pretty well publicized it's now happening in the corporate world in a really major way and time and time again as we go to companies they say well i guess this actually makes a lot of sense we had no idea it's happening something that everyone really needs to be made aware of right now all right and so what happens give me the scenario and then when the next section we'll talk about what that may we'll talk more deep about it but very briefly what does that mean that something happens yes so let me give you an example from just one of our customers we had a customer who a false news source a couple of months ago was put out about them that a bunch of their customers relieving going to a competitor well we saw was about network spin up so a bunch of fake accounts right they spun it up and they started amplifying it until that story started trending so as a false news story from iran a blog got it start trending the mainstream media then saw it they wrote traditional news articles on it blogs things like that then wall street sought wall street said okay something's going on here and they actually saw their market cap drop several advocates you make money.
"chief risk officer" Discussed on FinTech Insider
"Should not be dependent on geography or proclivity only the to the capital to each other for that matter the other key point greg made is around partnerships this is going to be a huge part of the future of tanks historically banks and fintech s where regionally seen as rivals but this is no longer the status quo we talk almost every week on the show about the latest partnerships between eighth intake and a big bang but what it's going to be crucial in partnerships not just between fintech s and traditional banks between fintech stem cells the regulators investors talent hubs such as universities and every associated player in between no thing take is an island they need to team up and work together to make some serious strides forward and change the face of banking for the better for their customers and for themselves fintech as we've seen time and time again on fintech insider and of course the course of this series is so good at finding a specific niche a specific customer issue or problem solve or a particular demographic to serve it is this customer interest that will be so important to the types of partnerships that are formed in the future this is paul rippin co founder and chief risk officer at mom's if you're asking me to what degree partnerships batter and are they the only depends i mean this is this thing about the big four or five banks for the last twenty to twenty five years they have continued to keep by eighty to ninety percent of current account share whether that personal or business so despite the internet boom despite the tech boom on the face of it it looks like they still occupy a huge show business in the same for the big pension companies as well we will that be the case in a few years time my guess is no actually my guess is the status quo will not will not chain the status quo will not be the same i think there's gonna be some sizable shifts i think first of all this wave of fintech activity is really connected with customers so we've already touched on our customers are more represented around the uk they tend to have a younger bias on compared to average for example twenty to thirty year old off four times more than than you average population so we have quite high share of your customers i think he's reasonable fair to say well we'll monday for example could meet all of the needs and demands that those customers won't save for twenty to thirty year old i need how working out do i set business on i want to leave the greenest energy life possible on or i want to live the cheapest life possible or the funnies life possible is it fair reasonable to expect one provide even even monzo to provide all of those needs and services especially i think the quick answer is note however could one provide light light monzo provide the ability for people to ask those questions and get some help and i think the answer to that is yes so i i didn't think that means what to what degree kinda firm provide those services it so often to what degree can affirm us established legacy providers women.
"chief risk officer" Discussed on CNBC's Fast Money
"The offerings that the firm already provides coin basis product raise skills new trust will be offered to accredited investors with the minimum ten thousand dollars investment but unlike coin base grace skill has a one year vesting period back to you melissa i5 thank you bob bassani at the nyse on what do you make of this all of these new products market listen this is what i thought would happen with the space it is becoming a new asset classes who called it that last week when around san francisco wall street is coming out this it's a new asset classes now you need new products so i in in the long run obviously in still quite bullish on the space i might even have to move trade mike bear sudan for that bitcoin suit pretty sweet for more on this let's pray and michael sunshine he's the managing director of grace scale investments the largest asset manager in the digital currency space they created the bitcoin investment trust and the four new single currency funds you just heard about michael welcome to the show thanks for having me on what sort of investing gap these products phil why would not just by with no limitations in terms of me being accredited or the minimum amount i could put in or the vesting period why when i just by the digital currency sure so great goes been app is actually since late two thousand thirteen we recognize that investors wanted exposure digital currencies digital currencies are not like stocks and bonds and all the other things that you buy there's certain technological prowess that people need to have to handle them store them securely etcetera in so by launching products that allow people to gain the exact same exposure but through the purchase of a security well all of a sudden it becomes something that people can really wrap their heads around in particularly for institutional investors which is where probably most of our flows have come from recently custody is a big issue for a lot of these institutions and when you start involving the chief risk officer the lawyers the account into cetera nothing a product with accuse it that's audited is something that really checks a lot of the boxes for them so luckily you mentioned something that we've talked about a lot here's this institutional money coming yet uh i've heard bull.
"chief risk officer" Discussed on Bloomberg Radio New York
"A day powered by more than twenty seven hundred journalists and analysts in more than 120 countries in san francisco i'm ed baxter this is bloomberg hey thanks over the let's get back to get to investigate the as as a chief risk officer eatery partners can zinke right with his this still good by the bank of japan now this seems to be a massive split on whether the japanese centreback will taper the some time this year and the point is you could argue will they could try and take they may be forced to taper anyway because they don't have any assets after by arm it's it's a possibility but given the massive a month of uh of uh japanese that a government that out there i think that uh that uh that that that point still a uh a while away and they they do uh still stay that inflation expectations are still scoot uh didn't at risk for inflation development their students get to the dump site said to me that picky statement the fungus uh they don't change that statement that they're going to keep buying whatever on time available to buy i think it was an important message that central banks generally want to err on the side of caution they don't want to chapter breaks too soon i'm just wondering whether or not we can expect that the seeds through to the ecb this week uh i think we can we will i think that uh we have seen in the us how difficult even put on economy nearfull employment life the us imply conomy to that allow put any any sort of upward pressures of inflation i think that that's that's good as the eurozone economy has been doing lately is still very far from a full employment so those disappointments that we've seen encoding inflation in the euro zone where each just he does not he can't even get past the one percent level very hard from the ecb target are going to continue and uh is very difficult for me to see how uh rates can start going up any any time before mid two thousand nineteen as many call them at the front of.
"chief risk officer" Discussed on Bloomberg Radio New York
"Ed baxter on news here on bloomberg daybreak asia will i guest is in rick ideas alvarez chief risk officer at avery partners so we're up eighteen days in a row oh here on the hshare index and rikke in in hong kong i mention that because it's kind of like a little microcosm of what we see in emerging markets great opportunities seemingly undervalued but maybe too far too fast uh what's your strategy while they have been definitely very fact i'm not sure that if we can say that it too far arm the heck of a matter that even after very kind runup impetus great can the united states uh not the mention in europe and become are still uh uh uh multi at lows and i think that uh they think of equity reprised fame based on this permanently lowered park for drinkers rate that we have seen him play like the us and eurozone i think we're seeing in the in the murky markets i think uh i i agree with bloomberg that this this probably have further from the run will is i'm meant to mention that this particular indexed the hshares indexes on ten and a half times earnings so it's cheap it uh with pain quite back in in in a developing mind developed market and the wildlife people think that if we table kicked we may put a discount between the folly of emerging market for those are the pella market i think that the mit market timing at half the population level of developed market if if if the way too high at this so i can assure them i think there's a lot of and here cheaper reason those you'll be any good yeah yeah they are uh uh afflicted the dog's body now i think their dog thing that dividend payouts had also pretty high and uh that is because the iso love because uh i think that the uh the reallocation of after that have taken away second place away from fixedincome door take with these uh has happened in developed countries and looking now at last year has been hit in the emerging markets more to talk about in rikke stay with us in rickety as alvarez from hebrew he partners of douglas step update markets next this is there are three northern white rhinos left in the world together.
"chief risk officer" Discussed on WPRO 630AM
"Then they bought this very small company that ended up being like buying a cancer is what it was so the reason they bought long beach mortgage was long beach was the subprime lender so a nato loans to borrowers with less than stellar credit and the reason they did this is there was a lot of pressure at the time on banks to be making loans to minority is and things like that and so what what wall move did was they decided well rather than make a bunch of loans were going to by the slender to do that but the problem leads a lot of these subprime lenders were very dodgy and they they are terrible accounting practices and all of the best so long beach was like a best of the worse if you well and it was very small it was growing quickly but it was very small especially compared to all the giant bank swath new have bought he didn't think much have that at the time that it would grow into a massively huge problem the hughes problem kill injure at this point you cite one man jim than that the nasa because washington mutual chief risk officer he doesn't like anything about subprime loans in fact he calls them very dark and ugly place the world is a very dark and ugly place for subprime loans the long beach count executives you you note they know what they're doing they're making loans to people who can't pay them back uh they're making loans to people in fact there's one wonderful quote where i wouldn't loan them money to that person to buy a bicycle let alone a house just kill injure at this point no what they are buying when they get long beach all these all these dark and ugly places sure thing the thing about subprime lending is that it did always have a place you know i mean there is a place for borrowers i can't afford a normal mortgage her camp qualified for one but what happened is at the same time they bought long beach mortgage everyone else and the country was embarking on this path of subprime loans because if you were a bank you could sell subprime loans.
"chief risk officer" Discussed on Adventures in Finance: A Real Vision Podcast
"So i i tweet as peter out water on twitter uh you can also look at my blog on linked to end and also i do a regular weekly commentary uh two clients um that's available through my websitefinancialinsightscom uh insights spilled ins y g h t s d's distantly someone you should be on the twitter he's handle these pizza on the school at water a t w h e l p to underscore at will to now you'll find his websites uh financial dash insights lacomb and that's with a uae now join me now is uh a man has become a very good friend of mine the last couple years because i've bagged him into talking three for hours on end don't debate hunt the chief risk officer of salient partners on the author of the excellent epsilon theory who is currently on his farm up in connecticut which is a been a source of some tremendous inspiration for his writings in recent weeks bent welcome back to adventures in finance is great to have you with us again great to be here grant i really appreciate having back on i i just think with what's going on in the world today the way you look at this the prison me look at these markets through is too so important for people to understand is not all about the numbers on the border into the day there are there are forces moving beneath their feet that really at some point all going to have a major effect on the way markets move so i'm hoping that we can jump into the common knowledge guy minute preps i leave it to you to explain exactly what it is because i know i will make it an awful i miss of it no no no i mean i'm sure you do just fine but but but let me give a little bit of a background.
"chief risk officer" Discussed on The CyberWire
"Doing the basics if you're not if you don't know where you're sensitive data is and words traversing and door your assets and the ability to keep them patched in at monitored than than how can you move toward automating at is this a matter of properly setting priorities yeah i think that one of the the the patterns that i see a lot is the board gives the sea sweet the funding and then of course the sea sweet is comprises ceos cfo chief risk officer and then the c i o the chief information officer and i've seen a pattern develop where if the cis so uh reports in uh to the cia oh and there's not a really good partnership there the coo's job is to foster innovation to manage the information flow within a corporation and two in many times reduce expenses or reduce the overhead and security as is seen as one of those cost pockets if you will uh or cost sinks that the cia oh he or she could say will it all havel i'm trying to fund security but it's it's never ending they always neighbor money i'm not really reducing my expenses i think that one of the ways that we've been successful accenture is working with the board and working to get them to understand the risks and the threats on a macro level and to understand that security cyberdefence security information security not only should be taken seriously but it can have a direct effect to the bottom line to the customers at cetera and once you get the board bought into this model they are then able to then cast the see sweet and it in a cascades down aren't even to the lower levels around compliance budgeting.
"chief risk officer" Discussed on Let's Talk Bitcoin!
"One of the industry's i ended up covering is an analyst was pharmaceuticals in hospital supply software and semiconductors brecon familiarity now back into the early nineties about these industries stay to brass as i've worked in my career in finance and then worked for firm that built significant technology to support investment operations large banks money managers their clients product development i worked for the head of information technology and then it became chief risk officer of what is a public company that's highly regulated with operations across the globe so among other things personally identifiable information operation resilience fraud cyber large were of concern and i had the signature of the side view as i started investigate blocked and see there was potential certainly to reduce costs in the back office efficiency and productivity gains many things are talking about here in healthcare claims processing revenue cycle management things like that i'm certainly i saw for finance the opportunity and finance as well ahead of healthcare which is not say that might not catch up but i took that lesson in that understanding and took it into healthcare i work on the industrial visory board of the engineering department at a midwestern university biomedical engineering environmental engineering of interest and concern and i suggested that security by design would be something that would be very important for biomedical engineers and that started a conversation with the head of the engineering department about some of the issues ram medical devices that was my education and spin a good two years that we've been doing research in then building out our capabilities so we are now you know putting a little more foot on the gas here with a very specific pilot in the uk nice knew it sounds like you have a strong moral compass that's moving forward can you speak for a moment about morality in the space great question in fact i was at a conference just a week ago on iot ethical dilemmas the insights that you have by virtue of not just a device as we would understand that traditionally but a patient or an individual's use.
"chief risk officer" Discussed on Bloomberg Radio New York
"India's monsoon season triggering floods and landslides in remote northeastern regions at least twenty dad's apple hospitality reach ceo justin night is unfair condition after his plane he was piloting crashed in two crashed in virginia the hospital says injuries are not life threatening and that he is expected to make a full recovery global news 24 hours a day powered by more than twenty seven hundred journalists and analysts in more than 120 countries in san francisco on a baxter this is bloomberg david at thank you were joined by enrique ideas alvarez chief risk officer at ibaraki partners and we to pick up on what does just mentioned it a few moments ago this issue of shrinking defense balancesheet i mean there's concern understandably begins never been done on this scale with which brings to mind that that whole taper from in 2013 i mean there was an initial panic then and then when they did start decay for all was willing to anyways i'm just wondering whether we're not worried about something that we shouldn't be worried about i i wouldn't be good granada relitigate i mean whatever crank into the balance sheet will be extremely gradual angry economic report back i mean we're talking a martino failing going about the coupon liquor x area of young bali the balance you aren't and there there any of the markets in southern fellow on the number of the early stopping the program or or back hey it here really.
"chief risk officer" Discussed on Hidden Brain
"I at lock points to arron brown the chief risk officer of the hedgefund aq are before he was a big shot and finance he was a big shot in the world of poker you with a worldclass poker player and he's we quote him as saying that you can you know the can tell the difference between a worldclass poker player and a talented amateur because the worldclass blair knows the difference between a sixty forty bad and a forty sixty bet and he pauses this at all me like fifty five forty five forty five fifty five uh distinguishing more degrees of may be is an important skill uh why is that well the very best forecasters are well calibrated so when they save answer eighty percent likely those events happen about eighty percent of the time when they say things are ninety percent likely to happen about ninety percent of the time so what makes a difference how frequently you update your forecasts if you don't update your forecast reasonably frequently you're you're going to fall out a phase with the vents uh and that means often making adjustments that are relatively small you suggested forecaster should do something that doesn't seem to be very intuitive instead of looking at the particulars of an individual case you say forecast should zoom out and figure out how often something has happened historically so daniel komen is probably one of the greatest psychologists of the last hundred years and he calls that the outside view and he says people rarely take the outside the eu would they do forecasting they normally start from the inside and they work out by there's a big advantage to you as a forecaster from starting with the outside view and working in a take another example that let let's say you're at a wedding and uh you're sitting next somebody who has the bad taste ask you how likely do you think it is this couples going to stay mary.
"chief risk officer" Discussed on Bloomberg Radio New York
"Well if you saying that when you're with chief risk officer had wide but is there anything apart from the usual apart from the fed apart from the breaks it the avs he's coming these upcoming elections that i should at least keep one eye on i'm is there anything that's brewing that's on your radar so one thing that can markets big overlooking the source of potential downside not with early in us equities but perhaps european equities and that is the political this coming out of europe now o every but enough about that we hear about brett said all the time they did it does crashes but have been the most baby they're going to give but eyes focus on that but we also how the reps on the minute deleon the constitution net if rejected could bring back their sort of worries that we with we can groups which surface in europe got it maybe too years so it's something on a but he's not under into the should be i would say that the politics around utah's lone it could be a source of oregon next three months and this that provide a lotta risk for even us out here in asia not so much in terms of equities the deal one off the ball hit i get they've been ipp is the you're returns to hold against that yeah the nation currency that could have some impact and always an operation acquitted particularly mika that would be the one position mechanism double what type four broadly speaking doesn't see dutch than this you know when that when a look at the currency markets right now i'm basically looking at rugby dollar strength i think some of these worries over what's happening with a women be for example a bit misguided because a lot of that move opportunity because of the dollar here should i be concerned over all of this sparking a fresh round of exodus of money out of emerging markets i really don't think so i don't think that any any here so opened eyes dollar appreciation i would be more than a compensated baby the fact that in pesticide cubs but for you as i picked later in in europe and then japan with the disrespected sompel bank on allowed pennant keeping yost down there's nowhere to go but for a lot.