Published on June 28th, 2013 | by Stephanie
Talking the GFC and MPE with Mark Lawrence
Mark Lawrence, Managing Director of Mark Lawrence Group — a global risk management consultancy firm — was one of the first rocket scientists on Wall street. He will be speaking on the Friday morning of MPE: The Conference. (PS: he is an AMSI board member too!)
The new post-crisis paradigm for financial risk management will explain — from his perspective — the misunderstandings, the lessons learnt and the knowledge gained from the GFC.
“The GFC was a catastrophic failure of the largest banks in the world to understand and manage their risk,” Mark said.
I have been told by friends that people that play the market have short term memories when it comes to bad decisions and Mark explained that depending on where you were in the world (when the GFC went down) will ultimately depict how you remember it. And how it impacts the decisions that you make in the future.
Mark travels the word helping clients to better understand risk management and gives them lessons on what and what not to do, with regard to risk: “It is one of the things I love about my job,’ he said.
I think Australians forget that we didn’t bare the brunt of the GFC. Certain countries in Western Europe are still recovering – not to mention the turmoil the GFC caused in The States.
So what can we do to avoid such things happening again?
Mark strongly recommends that: “We need to not forget the lessons the GFC taught us. And we need to keep reminding people about those lessons.”
Mark’s enthusiasm for the conference (and mathematics) is in the vicinity of mine:
“Mathematics is really everywhere… I am really, really excited to hear what is going on in other areas… I normally don’t get the chance to interact with these people and hear what they have to say… MPE is a cutting edge conference and it is going to be great!”