We were pleased and honored to have such a distinguished group of 'risk mitigators' in our one hour session on "Managing Risk in Global Business'. You can watch their discussion with information and Q&A by clicking HERE.
As a member of Global Chamber you may contact any of the speakers through the member directory. If you have any trouble with that or have any other questions, contact us by clicking HERE. Some of the speakers had presentations, too - and if you'd like that info, contact them or us.
Watch for the next multi-metro globinars every month HERE.
Here are some of the additional questions outside the event. First to Meredith Wilson...
1. Will we go to war with North Korea? Can you expand on how conflict with North Korea would affect small and medium sized global businesses?
- A military conflict with North Korea would risk drawing in Russia and China who are against any type of military conflict that would threaten regional security. It would be difficult for the US to get involved in a conflict with the North Koreans without the consent of these two countries. Additionally, there are a lot of other downsides to physical confrontation – and that’s before we get to the topic of the use of nuclear weapons. The vital economic interests in countries like South Korea (technology and other industrial supply chains), China (manufacturing, technology, and automotive supply chains) and China’s financial interests around the globe – just to name a few. While the US is clearly readying itself for potential conflict – all other options will be exhausted before it comes to this.
- Further reading: An article from 2017 that we wrote explains how China looks at the North Korea and what drives some of its key decisions with regard to the country, click HERE.
2. How do you think small businesses would be most affected by changes in NAFTA or China-US trade relations?
- Changes to NAFTA threaten to increase trade barriers for exporters and importers – depending on your country of origin. No matter how you slice it – small businesses are least likely to be able to absorb these changes. Similar risks exist in US – China trade discussions threaten similar tariff increases with similar impact to small businesses trying to access the market in either country.
Next to Trevor Jones...
1. What kind of companies should try to implement AI or machine learning visualizations?
- Any company with a large amount of data that analysts use to manually produce reports.
You may be surprised at how many firms still use manual or semi-manual processes to
derive insight. The point of AI and ML is to help analysts quickly analyze data by visualizing,
rather than sifting through it.
2. What kinds of risks can be assessed?
- Traditional risks, like political risk, currency/financial risk and security risks can all be
analyzed. Non-traditional, but increasingly relevant risks, like climate change risk or social
media sentiment/reputational risks can all also be analyzed through the same method:
ingesting lots of data to quickly find risk drivers on a granular level.
Next to Phyllis Riley:
1. Why would I work with a Tempus vs. my bank?
- Foreign exchange products are a relatively small portion of a bank’s business so banks do
not assign individual employees to work with a company solely for FX. Tempus exclusively
manage FX payments and therefore have far less overhead than banks and offers more competitive rates of exchange that save you money. If you walk into a bank to process a foreign currency payments you will need to set up the payment each and every time. The
information needed for these wires is very detailed. Entering the information by hand
increases the likelihood of errors, which increases the chance a wire will get delayed or
2. Isn’t it better for our company to require our global customers to pay us in USD?
- Many companies think this is their best, and easiest, option. The truth is that if you require
your global customer to pay you in USD, they are taking on the risk of currency fluctuations.
In addition, you will be less competitive to potential global clients because your European
competitors will accept FX in the currency of their customers. This makes it easier for the
global customer. There are easy ways to allow your global client to pay in their nations
currency, while also removing any risk to your firm. You should discuss this with your FX
00:00 Start the Multi-Metro Globinar
- CEO Experience: Anurag Kumar, from iTexico - What Risks Are We Facing?
- Meredith Wilson, Emergent Risk International - Top Three Risks to Global Trade in 2018 (China, NK and NAFTA)
- Mike Kelly, AHT Insurance - Protecting International Staff and Travelers
- Trevor Jones, Lynx Global Intelligence - What in the World is A.I. for Global Risk.
- Phyllis Riley, Tempus - Payment strategies to mitigate risk when going global
- Leighton Weston, Creditsafe - Global Data & Compliance
01:00 End Virtual Globinar
Speakers and Biographies
Anurag Kumar - CEO & Co-Founder of iTexico
Topic: What Risks Are We Facing?
- Bio: Anurag is an experienced global technology and management professional with a talent for finding innovative solutions to complex business problems and building and growing businesses. He is skilled at forming and managing globally distributed teams and motivating them to focus on customer needs and revenue generating activities. Anurag has extensive experience working with and for companies that range in size from the Global 500 to pre-investment startups. As an entrepreneur, He has started 5 high-tech companies, including MSC, UniComp, venture-funded MediaPrise, Connectione and now iTexico. Anurag has held leadership positions at TCS, KPMG, IBM and Dell. He was the CEO of two India-based services companies, Cressanda and Shergroup India. He is a former Vistage Small Business CEO Chair. He holds Engineering degrees from IIT Delhi and Wayne State University and an MBA from Michigan State University.
Meredith Wilson - CEO & Founder of Emergent Risk International
Topic: Top Three Risks to Global Trade in 2018 (China, NK and NAFTA)
- Bio: Meredith serves as a political risk and intelligence advisor to executive management and government and has 20 years experience in international environments, the energy sector, major corporations and the US intelligence community. Before founding Emergent Risk International, Ms. Wilson worked at the Pentagon for the US Defense Intelligence Agency. In 2007 she moved to the private sector to build a strategic intelligence program at ConocoPhillips. Subsequently she worked in regulatory affairs before moving on to Kosmos Energy to develop a political risk program. She served as a business intelligence advisor to the National Intelligence Officer for Science and Technology and regularly provides briefings to executives and members of the USG and US military. She has a Bachelor’s Degree in International Relations and a Masters Degree in History. Ms. Wilson has lived and worked in Australia, the UK, Ireland, Vietnam and Malaysia. She also has extensive experience working in the Middle East and Africa and speaks Indonesian and Malay.
MIke Kelly - International Risk Consultant at AHT Insurance
Topic: Protecting International Staff and Travelers
- Bio: Mike holds a B.A. in Economics and History from the James Madison University and has dedicated most of his career to help employers their international employees and traveling staff are protected and legal duty of care is met. In terms of Risk Management, he has dealt with clients in over 80 countries and can help with legal compliance and security planning in order to mitigate the risks that can vary greatly from white collar crime to war and terror.
Trevor Jones - Co-Founder at Lynx Global Intelligence
Topic: What in the World is A.I. for Global Risk.
- A Colorado native, Trevor’s background includes consulting and research on terrorism and humanitarian issues. He has presented his research on complex adaptive systems to the United States Department of State. He has served as a Fellow at both the Denver Council on Foreign Relations and Secretary of State for Colorado. He sits on the Board of the Global Chamber Denver and is a member of the International Association of Genocide Scholars. Trevor holds a BA in Psychology from Tulane University in New Orleans and an MA in International Security from the University of Denver, in addition to a certification in Humanitarian Action at Duke University in Geneva, Switzerland.
Phyllis Riley - Director of Business Development at Tempus.
Topic: Payment strategies to mitigate risk when going global
- Bio: Phyllis is a professional that focuses on strategic market initiatives. Over her nine years career with Tempus, she has held a variety of senior sales roles in addition to managing, recruiting and training of new sales staff. She has worked with a number of industries to understand their unique needs and to deliver value-added solutions to help them navigate global currency markets efficiently. Phyllis is a member of the President’s Circle, which recognizes sales excellence at Tempus.
- Leighton Weston - Global Accounts Director at Creditsafe USA
Topic: Global Data & Compliance
- Bio: He specializes in global due-diligence for companies trading overseas. Leighton’s clientele in the US are companies that work business to business. Where there is risk, there is a need for risk mitigating data. Creditsafe works with all size companies but Leighton specializes in working with large multi-nationals. He originally comes from the UK but has worked in several of Creditsafe’s global locations supporting their large customers. He has been with Creditsafe for 10 years and studied at Cross Keys College in South Wales, UK.