Risk Management In The Time of Covid 19

Risk management in a financial industry is more structured than less – which is a very good thing for the financial industry. When I entered my next job, it was mainly handling X. I got do a bit of the “Hey I did this to figure out that!” but it was not that often. I implemented those things thought up by others. The sort of thinking in risk slants towards what ifs and how do I make something that I totally don’t know about knowable. I felt I was translating risk a lot. That was when everything was norm.

When Covid 19 struck, risk management disappeared. I don’t mean I don’t need to work but that everything was clear, predictable and stable. There was no uncertainty. The government set clear and firm laws about what is to be done. The businesses set about doing it. While it is true we don’t know how the community and the economy will emerge out of this crisis but nobody is thinking about this at the moment. The front of mind is how business can be continued at the present time. Soon, there will be gradual reopening of the business community. The funny thing is that the reopening is more uncertain than the closing – with the fear of a second wave of the virus, there is a lot more uncertainty. The potential flip flop of the ministry’s stand is requires more resources than certainty.

As a means of diversification, services industry might make our GDP earnings less risky than a manufacturing or agrarian focus if there is domestic consumption of these services. As with all decisions, there is a trade off: focus on too much domestic consumption, we won’t earn as much GDP. There is also another trade off because food access a safety concern; a healthy manufacturing sector creates jobs. But I am generalising broadly – risk and impact is relative.

In a daily stand up, my boss would asked for our plans and what we have done for the day. To this end, I have discovered something call a bullet journaling. It is helpful when there are just too many things happening. It helps with recording what was completed and what will need to be done for that day.

It doesn’t really show what I have achieved for the month. I have started recording it in the monthly page. It is interesting to see that many of my jobs requires on and off tinkering.

It also doesn’t help with feeling stressed or overworked. My current boss is really a superb boss. We had a call yesterday that was a weekend wrap up. He was asking us how we felt working at home. Imagine that! And he also remembers the family and circumstances of every team member. Impressed!