When a typical person from the developed world asks me about risk management practices in the emerging markets, I have this sense they just don't quite grasp what we are dealing with much of the time as risk managers. Over the years I have amassed some of the most incredible and unbelievable stories of dysfunction, yet ... society kind of works it all out pieced together by a thread. Much of the madness that goes on is unfathomable unless you see it with your own eyes, if you are looking out for it that is.
Just as a typical example; on my way to a risk management meeting of all things with a bank this morning, I was presented with a couple of images which starkly represent what I mean when I say risk management in the emerging markets has its challenges.
