Masters of Risk

From Compliance to Catalyst: How Enterprise Risk Management is Evolving for a Volatile World

In this episode of Masters of Risk, host Stewart Webster sits down with Chrystina Howard, ERM leader for the Complex Risk Practice at HUB International, to explore how enterprise risk management is transforming in an era defined by volatility, interdependence, and systemic shocks. Chrystina brings decades of experience at the intersection of insurance, strategy, and complex risk, helping organizations navigate everything from geopolitical tensions and climate extremes to cyber escalation and workforce instability. Together, Stewart and Chrystina examine why ERM can no longer be treated as a compliance exercise and how leading organizations are using it as a strategic capability, one that unifies risk awareness, drives resilience, and strengthens competitive advantage. Their conversation spans the full risk horizon: alternative risk financing, the resurgence of parametric insurance, global regulatory pressures, the fragility of traditional insurance markets, and the critical role of culture in building risk‑mature organizations. Chrystina also shares a candid look at the risks keeping leaders up at night, from escalating cyber threats to declining employee wellness, and explains why the organizations positioned to thrive aren't the ones predicting every disruption, but the ones preparing to adapt to any disruption. A must-listen for executives seeking to modernize their approach to risk and unlock the full potential of ERM in a world where crises rarely occur alone. Credits: * Host: Stewart Webster [https://www.spglobal.com/en/who-we-are/about-sp-global/our-people/stewart-webster#q=&rows=20&pagenum=1&sort=es_unified_dt%20desc] * Guest: Chrystina Howard [https://www.linkedin.com/in/chrystina-howard-26300814b/] * Editor: Feranmi Adeoshun * Producer: Caitlin Bray * Published With Assistance From: Sophie Carr

Beyond Volatility: Inside the Hidden Risks and Rewards of Crypto Markets

In this episode of Masters of Risk, host Stewart Webster sits down with Ali Hassan, investor, entrepreneur, and founder of Perceptive Capital, to dissect the accelerating institutional movement into digital assets. Ali reflects on the early misconceptions surrounding Bitcoin and crypto and shares how risk frameworks have evolved as the market matures, infrastructure hardens, and regulatory uncertainty fades. Their discussion spans the full risk universe: exchange fragility, leverage, custody, smart‑contract vulnerabilities, the role of Decentralized Finance (DeFi) in global financial inclusion, and the growing belief that Bitcoin represents one of the most asymmetric return opportunities of our time. Stewart and Ali also look ahead to 2045, exploring which digital assets will survive, which will vanish, and what a world built on programmable money might mean for investors. A compelling roadmap for anyone seeking clarity in a rapidly shifting financial ecosystem. Credits: * Host: Stewart Webster [https://www.spglobal.com/en/who-we-are/about-sp-global/our-people/stewart-webster#q=&rows=20&pagenum=1&sort=es_unified_dt%20desc] * Guest: Ali Hassan [https://www.linkedin.com/in/alihassan91/] * Editor: Feranmi Adeoshun * Published With Assistance From: Sophie Carr and Caitlin Bray

System Shock: AI, Misinformation, and the New Age of Fragility

Kicking off Season 4 of Masters of Risk, host Stewart Webster sits down with risk expert Michelle Sartain, President, Marsh US and Canada, for a deep dive into the volatile U.S. risk landscape They explore the top threats identified by business leaders, including economic uncertainty, declining workforce health, the rapid spread of misinformation, the dual-edged sword of Artificial Intelligence, and systemic supply chain fragility. The conversation emphasizes the profound interconnectedness of these modern risks, where vulnerabilities in one area can trigger cascading consequences across social, operational, and political domains. Stewart and Michelle discuss the critical need for organizations to build resilience and adopt cross-functional strategies to anticipate, manage, and mitigate shocks in an unpredictable world. Don't miss this essential guide to navigating the complex fragilities of today's business environment. Credits: * Host: Stewart Webster [https://www.spglobal.com/en/who-we-are/about-sp-global/our-people/stewart-webster#q=&rows=20&pagenum=1&sort=es_unified_dt%20desc] * Guest: Michelle Sartain [https://www.linkedin.com/in/michelleasartain/] * Editor: Feranmi Adeoshun * Published With Assistance From: Sophie Carr and Caitlin Bray www.spglobal.com/market-intelligence [https://www.spglobal.com/market-intelligence] www.spglobal.com [https://www.spglobal.com/]

What risks do you face when launching a business?

In this episode of Masters of Risk, host Stewart Webster engages with Michael Brawer, the CEO of Transparency Analytics. With a wealth of experience in executive positions within the financial services industry, Michael has leveraged his insights to establish his own firm. Stewart explores the motivations behind Michael's entrepreneurial journey, the risks he has faced, and the challenges of raising funds to realize his vision. Don't miss this insightful conversation. More S&P Global Content: * Masters of Risk | Season 3 Ep. 2: AI or Not: How Do We know What is Real or Not [https://www.spglobal.com/market-intelligence/en/news-insights/podcasts/masters-of-risk/masters-of-risk-season-3-episode-2-ai-or-not-how-do-we-know-what-is-real-or-not] * Masters of Risk | Season 3 Ep. 3: Nc'Nean Whisky Breaking the Barriers [https://www.spglobal.com/market-intelligence/en/news-insights/podcasts/masters-of-risk/masters-of-risk-season-3-episode-3-ncnean-whisky-breaking-the-barriers] * Are Credit Chatbots Worth the Resources? [https://www.spglobal.com/market-intelligence/en/news-insights/research/2025/09/are-credit-chatbots-worth-the-resources] * Tariffs in Transition: The Impacts of Trade on Credit Markets - Part 1 [https://www.spglobal.com/market-intelligence/en/news-insights/research/tariffs-in-transition-the-impacts-of-trade-on-credit-markets] * Balancing Risks and Rewards in the EU-US Tariff Landscape - Part 2 [https://www.spglobal.com/market-intelligence/en/news-insights/research/balancing-risks-and-rewards-in-the-eu-us-tariff-landscape] * Navigating Global and Asia-Pacific Economic Prospects Amid U.S. Policy Changes and Tariffs – Part 3 [https://www.spglobal.com/market-intelligence/en/news-insights/research/2025/08/navigating-global-and-asia-pacific-economic-prospects-amid-us-policy-changes-and-tariffs-part-3] Credits: * Host: Stewart Webster * Producer and Editor: Alisha Rappaport * Guest: Michael Brawler

AI Data Centers: How Energy Keeps Them Running Part 2

In this episode of "Masters of Risk" host Stewart Webster engages in the second part of a compelling conversation with Wish Bakshi, Founder & AI Systems Engineer of AQ Energy [https://www.aqenergy.ai/]. In this two-part episode they have an in-depth conversation about AI data centers, digital infrastructure, the complex energy systems behind them in a world where the demand is high and the risks are increasing. Wish gives us two episodes to unpack all the intricacies from grid stress and financial risk to supply chain pressures. Tune into this insightful discussion. More S&P Global Content: * Masters of Risk | Season 3 Ep. 2: AI or Not: How Do We know What is Real or Not [https://www.spglobal.com/market-intelligence/en/news-insights/podcasts/masters-of-risk/masters-of-risk-season-3-episode-2-ai-or-not-how-do-we-know-what-is-real-or-not] * Tariffs in Transition: The Impacts of Trade on Credit Markets - Part 1 [https://www.spglobal.com/market-intelligence/en/news-insights/research/tariffs-in-transition-the-impacts-of-trade-on-credit-markets] * Balancing Risks and Rewards in the EU-US Tariff Landscape - Part 2 [https://www.spglobal.com/market-intelligence/en/news-insights/research/balancing-risks-and-rewards-in-the-eu-us-tariff-landscape] * Navigating Global and Asia-Pacific Economic Prospects Amid U.S. Policy Changes and Tariffs – Part 3 [https://www.spglobal.com/market-intelligence/en/news-insights/research/2025/08/navigating-global-and-asia-pacific-economic-prospects-amid-us-policy-changes-and-tariffs-part-3] * Credit Memo Automation: Where AI Meets Analyst Efficiency [https://www.spglobal.com/market-intelligence/en/news-insights/research/2025/07/credit-memo-automation-where-ai-meets-analyst-efficiency] Credits: Host: Stewart Webster Producer and Editor: Alisha Rappaport Guest: Wish Bakshi