Charles Andrews has Worked for a Number of Blue Chips and major merchant banks from Europe to Asia, and most places in between for the past 25 years or so, both before and after joining PwC's financial risk management practice in 1998. When it comes to credit risk-management processes and procedures in more mature competitive industries we reckon he's seen it all.
So, being that credit risk is still a big, ugly moving target in the competitive energy game, we asked that he offer up a few slivers of wisdom from the financial markets that could be appropriately modified for better managing such risk in our industry.
His first point: Despite what you hear about adapting best practices from the "financial markets," realize that such a sweeping generalization is almost a misnomer. "Financial markets," on the whole are about as varied and unique as industries come. Just like the energy industry. Credit risk management is going to be different for a bank, a fund manager, finance
