The Russia-Ukraine War - Ep 3 - The New Reality

Series Description: The world is constantly changing and in an interconnected world we are more exposed to risk than ever. Businesses and countries alike need to understand these risks and prepare for them. Its important to know that risks also impact people and society and as such personal resilience is just as important as organizational resilience. 

As part of the podcast, professional risk managers will share their experience in building such resilience, being in the middle of extreme situations.

The Russia-Ukraine War Episodes: focuses on risk management during the biggest military conflict in Europe since World War II. The head of risk management function of the largest private energy holding in Ukraine will share the experience of risk management during the Russia-Ukraine war, adaptability to work in war conditions and the importance of real adherence to ESG.

In this episode, Alexander Larsen speaks to Mykhailo Rushkovskyi about the new reality of living and working in a state of war. How did people and organisations adapt? what is the importance of being agile and resilient and what opportunities exist in such a reality? Mykhailo uses some great examples of industries that have been created, the importance of values and mission (and living up to them) and the balance between Risk and Reward.

For further information about Mykhailo and his career, you can find the Risk Managers Getting Coffee series on: https://youtube.com/riskguide

01:45 - How long did Mykhailo expect the war to take?
03:35 - Where did these timelines come from?
06:50 - The importance of considering the other side and culture
09:10 - How do organisations live up to Vision, Mission and Values
13:30 - What is Reputation, and the risks around it?
14:55 - How long has the New Reality existed?
19:50 - A Global Cyber Crisis and Resilience
22:10 - When did people realise there was a new reality? Risk Appetite of the people coming back to Kyiv
23:40 - Risk Appetite - Would you Jump out of an airplane? 
26:39 - Risk and Reward - Quantitative Risk Analysis and Risk Management's role in decision making
29:30 - Risk Culture, taking risk  and Appetite (the Warren Buffet example)
30:45 - How are people and businesses adapting on the ground?
33:50 - Risk-Based Strategies
35:10 - Types of businesses in the War scenario
37:35 - IT Industry
39:15 - Banking Industry - how did they avoid disruption and stabilise the economy?