April 10, 2020 by Adam Malik, Managing Editor
It’s time for risk managers to take some risks when it comes to their own careers. Laura Langone, Risk and Insurance Management Society (RIMS) president, explains why
– As told to Adam Malik
Risk managers are generally risk-averse when it comes to their jobs. But when it comes to our profession, we need to be bolder.
Our profession aligns with, “Be conservative. Don’t be too hasty. Think before you act.” These are some of the fundamental elements of risk. But it’s also time to ask where the career opportunities lie. Our opportunities have traditionally been lateral, where you go from company to company.
I look at my own career. I went out to learn different experiences by being at a more regulated company, so that I understand that world, and by learning about hybrid risks at a fintech companies like PayPal.
I adopted a bit of a different learning strategy, but it has always been about taking risks. That is what has allowed me to grow.
It’s about seeking that challenge and not being afraid to take on new ones. Whether it’s learning about credit risk or compliance risk, risk professionals must broaden their experiences.
Companies are taking risks every day to grow. How do we make sure that we have the skillset and that we’re nimble enough to adapt and support growth? That comes through multiple experiences. You can’t be afraid to try something new.
RIMS can provide a lot of tools that will open doors for you, but you are the only one who can manage your career. If we want this to be a great profession (and it really is an exciting profession), and we want to elevate our roles, we need to be the ones who are promoting ourselves.