What COVID-19 Can Teach Companies About Climate Risk

COVID-19 has created challenges for risk managers surrounding climate change. What can COVID-19 can teach companies about mitigating climate risk?

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COVID-19 is having a dramatic impact on the nature of market, credit, financial, and operational risks facing companies. Information about these risks is evolving at a rapid pace. To help risk managers stay informed of the latest developments and address the challenges associated with COVID-19, GARP has launched a podcast series featuring lively discussions with thought leaders and experts.

This week we will be taking a look at the intersection between the COVID-19 crisis and risks around Climate Change. The COVID-19 pandemic has raised many questions about the impact of the lockdowns on the environment. How quickly can we adopt new behaviors in a crisis? What lessons can we learn from our experience with COVID-19 that may be helpful as risk managers move to mitigate the expected consequences of Climate Change? In this episode, we speak with Naeem Siddiqi, Senior Advisor, Risk and Quantitative Solutions, SAS Institute Inc. and Peter Plochan, FRM, Principal Business Solutions Manager at SAS about what COVID-19 can teach companies about mitigating climate risk.

Over the years, GARP and SAS have worked together to bring risk practitioners unique insights on a variety of topics related to financial risk and have partnered on this episode of our COVID podcast series.

About SAS

As a leader in analytics, SAS has more than 40 years of experience helping organizations solve their toughest problems. Our unrelenting commitment to innovation enables banks to modernize and sustain a competitive edge. SAS provides an integrated, enterprise-wide risk-management platform for managing risk in an organization, from strategic to reputational, operational, financial or compliance-related risk management. Learn more about how SAS is driving innovation and business value for risk and finance professionals at www.sas.com/risk.

Speaker Bios

Peter Plochan, Principal Business Solutions Manager at SAS, is a FRM-certified Risk Management specialist with a strong analytical mindset and finance background. He combines 10+ years of Risk Management experience from ABN AMRO Bank, PWC, Atradius, GARP and PRMIA. Since 2014 he has served with SAS as global acting domain expert leveraging the latest trends in AI and analytics with deep risk management & finance expertise.

Naeem Siddiqi is the author of Credit Risk Scorecards (Wiley & Sons, 2005), and Intelligent Credit Scoring (Wiley & Sons, 2017), and has advised and trained bankers in over 20 countries on the art and science of credit scoring. Naeem has worked in retail credit risk management since 1992, both as a consultant and as a risk manager at financial institutions.

At SAS, Naeem played a key role in the development of products related to credit scoring. He is currently responsible for advising customers on issues pertaining to credit scoring and decisioning, risk strategy, climate change risk, AI/ML in credit risk as well as modernizing analytics infrastructures. He continues to meet and advise C-level bankers at 40-50 top lending institutions worldwide annually.

Naeem has an Honours Bachelor of Engineering from Imperial College of Science, Technology and Medicine at the University of London, and an MBA from York University in Toronto.

Where next?

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About GARP

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