Wednesday, February 11, 2009

Reinforcing skills required in risk management

Time and time again I have reinforced my views on what it takes to be a risk manager (not what it takes to build capability in risk management)

  1. Possess the visionary in where risk management should be and the depth required to ensuring "the trains work and arrive on time".
  2. Having a bigger picture of the organizational direction and the role of risk management in the organization.
  3. Recognize risk management trends that impacts how risk management is implemented in this organization
  4. Process-oriented in the application of risk frameworks, policies, controls and implementation and principle driven in applying risk management in the corporate context
  5. Analytical capabilities in understanding the business, how risks arises and the drivers of risk (both market and internal drivers), identifying risks, how risk impact the business from strategic, tactical and operational perspective, the risk return trade off in business decision-making and prescribing practical risk management solutions

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