Risk Management

Skills You Should Look for in Your Risk Manager

Do you know someone who is going to be employed as a risk manager? Before they train for their certification or apply to their first job, you might want to refer them to this summary of a PM Hut post by Mohammad Nasser Barakat. Risk management is a challenging and often stressful (but rewarding) occupation. Barakat sums the position well:

Risk managers are accountable for timely identification, assessment, mitigation, reporting and escalation of enterprise risks in an organization. They help in creating new contingency plans and strategies and they implement appropriate controls to mitigate risks.

4 Roles of a Risk Manager

  • Communicator
  • Innovator
  • Problem Solver / Decision Maker
  • Technologist

The key to effective risk management lies in uncovering problems before they are problems (even if those problems are the employees themselves). This can be stressful at times, since one is constantly speculating about potential outcomes. What separates a good RM from a bad is the ability to assess a situation objectively and to take decisive action on critical items while deprioritizing trivial concerns.

These experts are excellent communicators and on-their-toes innovators. They embed themselves in the organization to train and relay information in a clear and unambiguous way across the entire spectrum of the work force, from the lowliest temp worker all the way to lofty heights of upper management. Oftentimes, cost limitations will fall into the risk manager’s lap, and he or she will need to think fast and be creative.

Effective use of technology is also a must. As businesses find themselves continually evolving into the tech realm, a good risk manager would be hard pressed to score a computer certification in the areas of data retrieval, report generation, or integrated work flow. Quick access to pertinent data and speedy reporting characterizes much of what a risk manager must do.

To read the blog in full, visit: http://www.pmhut.com/skills-you-should-look-for-in-your-risk-manager

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