Friday, July 9, 2010

Risks - known and unknown, new or old.. bad stuff happens

Risks,.. they may be old or new, known or unknown, systemic or operational or financial, technology or enterprise. As life moves on and technology becomes all pervasive threats and risks take on new forms and mankind keeps learning to survive and live. 

However this post is not about mankind and I would like to stay within the limits of my knowledge and professional domain. 

New risks were exposed with "we-never-thought-this-could-happen events" like New York 9/11; Hurricane Katrina; Bhopal; Barings Bank; San Francisco Sys Admin Lockout; Mumbai 26/11; Icelandic Volcanic Ash; Swine and other types of Flu and so many such incidents.

People risks include many factors and a new risk that has come up is drunkenness. Getting high on alcohol while on the job is no doubt a risk and every manager has to call upon his/her best person-management skills to take care of the alcoholic colleague. Drunk at the office party and everyone knows you cannot hold your liquor and you have to hide yourself in a hole for the next week. 

However, technology brings news risks and if you can remember [1] your way to office, [2] your password, [3] how to start your system - then you can do what you like and blow hole in your company's finances. Like this gent ... 

City ban for £6m drunk rogue trader
An alcoholic rogue trader who cost his oil firm £6million was yesterday fined £72,000 and banned from working in the City for five years.      Read more...

So here you go and add this new threat into your risk registers - TUI (Trading Under Influence) Make sure you keep a close watch on the boss and the traders, especially those who have had a good time over the weekend !

And then there are other risks too but we shall wait for them to be exposed. Bad stuff happens. move over DUI we have TUI in the workplace !


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