This blog post was originally published by GARP.
This May saw the third installment of Marvel’s Iron Man film franchise. Amid the new movie buzz, it is striking that the super hero world offers a surprisingly unique way to explore different approaches to risk management. By comparing two competing superheroes and their infinite powers, we can ask ourselves, who would make the most effective risk manager – LA resident Tony Stark or Gotham’s own Bruce Wayne?
At a glance, the two characters are very similar. They both inherited large corporations and enormous wealth, have an obsessive interest in technology which they utilize to control high end crime and they have a number of stakeholders to address both as civilians and heroes.
Despite these similarities, they do have significant differences, particularly in their approaches to risk management. It is these differences that map so well to the different approaches that financial institutions can take to their own internal risk management functions.
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