Though risk managers are organization saviors, how many leaders actively listen to them until it is too late? Trust cannot be measured, but you must earn it layer by layer. Once you get the senior management to trust your intuition and analysis, influencing their decisions becomes simpler. In this article at Risk Management magazine, Elliott Long and Emily L. Bloedel share four tips to earn more trust as risk managers in an organization.
Trusting Risk Managers
Earning trust is a slippery path, harder to achieve, easier to lose. So, how do you retain it throughout your journey as a risk manager? You cannot always be right in your decisions. So, here are the four tips to help you maintain that balance:
Announce What You Stand for
Risk managers enable companies to avoid risks at all costs. However, some organizations may perceive the process as slow and a hindrance to their growth. Let them know what you believe your value addition is to the company. Fulfill every bit of it once you get the window of opportunity. Have case studies that display how risk managers benefit companies. Align risks to in-house metrics and analysis to industry trends and data. Update yourself with best practices, trends, and foolproof methods.
Act as the Audience Says
You cannot run the same message for every professional, team, department, business unit, or franchise. The higher the seniority, the crisper your message should get. Their time is precious, so honor that. For a 15-minute presentation, prepare weeks in advance. For middle managers, you should add more details to the slide. Figure out the questions they might ask, their most impactful KPIs, and how your risk analysis influence those.
Network with Influencers
Risk managers need to network with influential people in the company to be heard. It increases support and buy-ins even from stakeholders you have not interacted with a lot. If you come across some conflicting ideas, hold your stand, and explain politely. Broaden your relationship radius to include other department heads as well.
Despite all the efforts, risk managers might be overlooked until their analysis comes out to be true. It can be that your presentations were not that insightful or legible for the stakeholders. Stay optimistic, work on your slides, and be more communicative to let your message sink in.
To view the original article in full, visit the following link: http://www.rmmagazine.com/2020/08/03/4-ways-to-build-influence-as-a-risk-manager/