In this episode, Gustavo Gilberti, a Risk Specialist and Process Consultant at Hatch, gives insights into the emerging risk management tools and approaches covered in a recent article he contributed to. Having spent the better part of the last ten years traveling around the world visiting heavy industry sites, Gustavo uses his experience to approach risk management holistically and discusses ways of creating new tools in the ever-changing business landscape.

In this episode, Jason Jarrett, a Risk and Resilience Specialist at Hatch, discusses ways of building resilience in organizations in an ever-changing business landscape. We cover the importance of business continuity through communication and adaptability and discuss ways to build resiliency into mining activities, which is especially important in today’s environment given the recent geopolitical tensions.

In this episode, we discuss the application Risk Analytics and Probabilistic Modeling in dealing with heavy-tailed risk events, and in quantifying risk events occurrences. Dr. Pouya Zangeneh, a Risk Analytics Specialist at Hatch, discusses his blog post on the normal distribution of risk events and how some statistical methods are suboptimal when attempting to capture heavy-tailed risk events. He also provides an interesting example of how the Bayesian approach can help continuously update the risks and probabilities over time.

In previous episodes, we discussed building resilient organizations with operational integrity. This episode follows on the catastrophic risk management framework with specific applications in the mining sector. Todd, a Senior Mining Consultant at Hatch, discussed the importance of mitigation control measures, such as having a functional secondary egress in a mine, to lessen the likelihood of material unwanted events. He also recognized the importance of involving subject matter experts and operations personnel to help identify, prevent and/or minimize potential MUEs and their impact.

In this episode, we continue our operational integrity discussion and dive into the specifics of catastrophic risk management in terms of program development and implementation. Matthew Cramer, Hatch’s Global Director, Advisory, discusses the challenges commonly faced when defining and identifying material unwanted events, and determining the proper preventive and mitigative controls and biases that occur during the process. Matthew also shares an example of catastrophic risk culled from his own experience, the approach that was taken, and the outcome it produced.

In this opening episode, we interview Johan Du Toit, Senior Advisory Principal at Hatch. We discuss the importance, challenges, and best practices for operational integrity. Johan defines operational integrity and discusses the critical role of risk management in achieving and maintaining it. He opens on the biases of the risk management process that are most prevalent and sheds light on the role of leadership.