A video produced by the Association for Financial Professionals (AFP) asks Magnus Attoff, head of financial risk management at Ericsson, about his unique approach to enterprise risk management (ERM). Attoff's career has eclectically spanned roles as auditor, software programmer, risk management consultant and COO at a brokerage firm. His breadth of experience gives him a unique view on what it takes to make a good risk manager.

Some of his advice and insights are as follow:

• In risk measurement, don't spend too much time trying to get it perfect down to the last decimal.
• Keep an open mind about risk and be sensitive and reactive to changes in markets and operations. Remember nothing is stable.
• Look at your company's P&L and know where the revenue comes from. Then you can make sure you're measuring risk in the right areas.
• In terms of your skill set, you need to understand the different types of risk and how different instruments work.
• You also need to work with financial controlling to look at the relationship between risk and results.
• Having experience in lots of different areas is an advantage because it enables you to see that there is no right and if there's no right, you don't have to worry about being wrong.

Watch the AFP's video below: