Petter Kapstad, head of risk management, Statoil
Petter Kapstad is head of risk management at Statoil, Norway's largest oil company. In 1997, Kapstad helped to steer Statoil through the implementation of a groundbreaking enterprise-wide risk management (EWRM) programme
What do you regard as the most significant development in risk management in recent times?
I think the most significant development has been the change from looking at risk in a silo approach towards looking at risk from an EWRM perspective.
For many years, firms looked at currency risk, operational risk and commodity risk in separate silos, whereas now it is more common to look at the corporate-wide risk profile. Once it reaches a certain level, some risks can't just be handled by individual
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