Balancing Risk and Reward
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Transcript of Balancing Risk and Reward
Balancing Risk and Reward
Rodney Denno, President
Secure Open Systems Inc.
ISSA Vancouver Chapter - September 21, 2005
Who am I?
• I’ve worked on international standards• Small business security and RM• Global payments organizations (RM and
Privacy)• Two patents• Yet never heard anyone talk about the
human side of RM and how individuals make decisions
Decisions, Decisions
• Understand how to manage business risks (Technology, Legal and Opportunity) and by understanding how your own Personal Risk Management Style effects your decisions
FUD
– FEAR– UNCERTAINTY– DOUBT
Is this YOU?
Are You?
How many believe you are risk managers?
How many believe you are good risk managers?
How many F’s
FINISHED FILES ARE THE RE-
SULT OF YEARS OF SCIENTIF-
IC STUDY COMBINED WITH THE
EXPERIENCE OF MANY YEARS
Social
Social
Social
Psychological
Psychological
Psychological
Neurological
Neurological
Neurological
Neurological
Cellular
Cellular
Cellular
Molecular
Molecular
Molecular
Principle #1
FEAR is a fundamental part of who we are. Don’t negate it, embrace it as a
positive part of your being.
Principle #2
You can change the effect FEAR has on you from one of negative/destructive to
one of positive/supportive.
Principle #3
The words we use determine so much of who we become and tell us so much
about who we are!
Action
Recognize and Nurture the risk taker in you.
Find the Master Risk Balancer in you.
Action
RM strategy must be based on “Eyes Wide Open” strategy NOT “Eyes Wide
Shut” strategy!!
F E A R
False
Evidence
Appearing
Real
Think about You!