Alexei Sidorenko, Author at Insurance Thought Leadership



Alexei Sidorenko

Alexei Sidorenko

Alex Sidorenko has more than 13 years of strategic, innovation, risk and performance management experience across Australia, Russia, Poland and Kazakhstan. In 2014, he was named the risk manager of the year by the Russian Risk Management Association.

At RUSNANO, Sidorenko led the risk management team at the largest private equity fund in Russia, specializing in high-tech and nanotechnology investments. He was responsible for ERM at the fund level and across its 95 portfolio companies. His work at RUSNANO was awarded first prize in the category Best ERM Implementation by RUSRISK in 2014.

In 2012, he created RISK-ACADEMY, a company specializing in risk education. RISK-ACADEMY was awarded best risk management education program by RUSRISK in 2013, 2014 and 2015.

Prior to that, at Skolkovo Foundation, he led the risk management function at the largest innovation center across CEE and was responsible for risk management as well as providing risk consulting to more than 830 innovation companies.

He recently published a book on Amazon called “Secret Recipe for Risk Managers” and regularly presents at risk management conferences. In 2012, he created a 12-part TV program dedicated to risk management. He lectures at various MBA and executive MBA programs at the MIRBIS, MFUA, OpUS, SKOLKOVO and USIB.

Previously, at PwC Moscow, Sidorenko was responsible for delivering risk consulting services within Russia, Poland and Kazakhstan. He was involved in the complete rewrite of the PwC global risk management methodology. He also created and hosted quarterly PwC risk management breakfasts for Russian CROs.

Prior to that at Deloitte, Alex was responsible for leading the risk consulting services across NSW, Australia. During that time, Alex conducted various strategic risk reviews, developed numerous risk frameworks, delivered risk management training programs and participated in various risk assurance activities.

Recent Articles by Alexei Sidorenko

Could Risk Analysis Win the Lottery?

I started writing yet another article trying to convince risk managers to grow their quant competencies, to integrate risk analysis into decision-making processes and to use ranges instead of single-point planning, but then I thought, why bother? Why not show how risk analysis helps make better risk-based decisions instead? After all, this is what Nassim […]

Cognitive Biases and Risk Management

Risk management competencies can significantly improve decision making in any profession. The bad news is that these competencies do not come to us naturally. They have to be developed. Even if you do not operate in a high-risk, uncertain environment, you should consider the extensive research into what is referred to by scientists as heuristics […]

Why Risk Management Certifications Matter

There seem to be a lot of angry talk about various risk management certifications on the web lately. Most comments are coming from people who are very ill-informed about how certification, any certification, works. As a creator of two national risk management certification programs that have been hugely successful in Russia, here are my two […]

4 Steps to Integrate Risk Management

Let me start by saying that integrating risk management into strategic planning is NOT doing a strategic risk assessment or even having a risk conversation at the strategy-setting meeting; it is so much more. Kevin W. Knight, during his first visit to Russia a few years ago, said, “Risk management is a journey… not a destination.” […]

What Gets Missed in Risk Management

Risk management is ultimately about creating a culture that would facilitate risk discussion when performing business activities or making any strategic, investment or project decision. Here are some of the key points that are often missed: Risk management is not just about tools and techniques; it is about changing the corporate culture and the mindset […]

Who Should Manage the Risk Manager?

A while back I recorded a short video on the topic of risk management organizational structure in a non-financial company. In the video I discussed various options for risk manager’s place in the overall organizational structure. Since there is really no single right answer, the few common options include: reporting directly to the CEO, reporting to the […]

3 Things SMEs Can Teach Big Firms

I was very fortunate to host a roundtable during the FERMA risk seminar in Malta. I am very thankful for the opportunity, because the experience of brainstorming for 45 minutes with the representatives from various small and medium enterprises (SMEs) really highlighted some major problems with modern-day risk management and risk managers. Here are three things that […]

Building a Risk Culture Is Simple–Really

Yes, building risk culture is easy! Before I explain, let me first clear up a few weird misconceptions about risk culture that have been floating around in non-financial companies: Making decisions under uncertainty is not natural for humans. Back in the 1970s, scientists had a breakthrough in understanding how the human brain works, what influences […]

How to ‘Gamify’ Risk Management

In 2014, I collaborated with EY to develop Russia’s first risk management business game. It was great fun, and as a result we created a pretty sophisticated business simulation. Participants were split into teams of 10, each person receiving a game card that describes a role (CEO, CFO, risk manager, internal auditor, etc.). At the […]

Can Risk Management Even Be Effective?

Lately, everyone from government agencies to regulators to corporate board members seem to be talking about the need for more effective risk management. The challenging part is that, despite the guidance provided in ISO 31000:2009, the concept of risk management effectiveness remains vague. This article attempts to summarize the basic components of effective risk management, […]

3 Fatal Mistakes by Risk Consultants

Warning: this article may upset some conservative risk managers Risk management in modern non-financial companies is very different compared to say 5 years ago. The level of risk management maturity, for lack of a better word, has grown significantly. As more and more companies across the globe are looking to implement robust risk management, the demand […]

Risk Management: Off the Rails?

First, there was science… Some sources suggest probability theory started in gambling and maritime insurance. In both cases, the science was primarily used to help people and companies make better decisions and, hence, make money. Risk management used the mathematical tools available at the time to quantity risk, and their application was quite pragmatic. Banks and investment funds started […]

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