Tunica, Mississippi (PRWEB) June 13, 2012
The recent trading loss sustained by J.P. Morgan made headlines throughout the world, and sent the business community into a frenzy. Commentaries and criticisms continue to pour in from bloggers and major news outlets alike, and companies of all sizes are thinking about the lessons they can learn from this epic-scale trading blunder. Small businesses, in particular, are considering what the Morgan incident can teach them about risk management, a topic that many small- and medium-sized businesses struggle with. In light of this, risk management expert Kevin Hunter has shared some of his own thoughts and advice, issuing a press statement directed at small business owners.
Kevin Hunter is a tenured executive with extensive experience in sales, marketing, and business leadership. His career has encompassed automotive sales, advertising, arena football team ownership, and ample work within the corporate insurance world—an industry in which he developed his knowledge of risk management.
In his new press statement, Hunter says the lesson learned from the J.P. Morgan incident is simple. Specifically, he says the primary takeaway is not to leave risk reduction in the hands of a single employee. “Generally speaking, thinking critically about corporate risk, and implementing a general strategy to manage the process, are two tasks well beyond what one or two people can do, at least in most business entities or industry sectors,” he affirms.
Kevin Hunter continues by offering another piece of advice, specifically for small business owners. “Reducing the complexity down to the very basics is good for starters, especially for a relatively small business,” he urges.
One of the criticisms that has been leveled against the J.P. Morgan firm is the fact that the company’s risk management committee included only three people—a shockingly low figure, some commentators say, given the size and scope of the firm. Equally noteworthy is the fact that none of these committee members had any prior experience in the field of risk management.
The trading errors made by the firm resulted in a loss of more than $2 billion, and have led many smaller business entities to reconsider their own methods of risk management. Though smaller companies face different economic realities than a company of J.P. Morgan’s size, many of the bedrock principles of risk management and basic investment strategy are universal, the same across the board, Hunter says. He concludes his statement by saying that furthering their education in the basics of risk management is one of the most prudent things a small business owner can do.
Kevin Hunter is a tenured executive with extensive sales, marketing and leadership experience in wide variety of industries. Currently, he serves as the CEO for Riverton Tunica LLC, an investment company seeking to expand the gaming market in the Tunica, Mississippi area. In addition to his work with Riverton Tunica, Hunter has led a long, varied, and distinguished career, including ample experience in the field of corporate insurance. Additionally, he has worked in arena football, advertising, and more. Hunter is a graduate of the University of Mississippi, and currently resides in the Oxford area.