Career longevity advice from a 'risk manager for life'
Hope springs eternal from this 35-year risk management veteran.
It’s safe to say our Risk Universe is extremely diverse and ever changing.
Now take a step back and reflect on how you got here. Did you go to college and get a degree in Risk Management, like many of the next generation of professionals are doing?
Or did life have plans for you that you weren’t aware of, and you somehow ended up in this profession?
In my case, it was clearly the latter. After getting a degree in Social Work, I realized that while the work was important, the pay and opportunities didn’t align for me. A friend who was an insurance agent asked if I’d be interested in a job as a Claims Adjuster Trainee.
I asked, “What’s that?”
He said, “You adjust claims.”
Again I asked, “What’s a claim?”
He said, “They provide a company car, and the pay is decent.”
I was all in, and that was about 35 years ago!
While you’re at lunch or a networking opportunity, if you take a quick informal survey of how the folks got into the Insurance or Risk Management field, I bet there’d be a variety of responses, reinforcing the idea that it’s about the journey as well as the goal.
The three-legged stool
I spent time as a claims adjuster — helping to fix things after the fact, then went to work for a broker as the “value add,” providing claims-mitigation strategies and loss control tips to our commercial accounts. I helped clients avoid claims or reduce their impact. Then I transitioned to the Risk Management field — seeking to avoid, transfer and address the risks prior to events occurring.
What’s your three-legged stool?
What’s just around the bend for risk managers, and how do we prepare for it?
Cyber is a huge deal now, along with the Internet of Things.
What’s just out of sight? We can only guess.
There are many theories and predictions to consider. Whatever is out there, risk managers will need to have at least a few of the following skills and attributes to improve our chances of success and remain relevant in our respective companies.
Four tips for a lasting risk management career
No. 1: Be a great listener. Don’t just hear what folks are saying. Try to figure out what they mean and what they’re trying to convey as a concern or opportunity.
No. 2: Be an effective communicator. Getting your point across as clearly as possible and removing the chances for misunderstanding is a skill. Also, accepting a “no” without hurt feelings means you’ve done a good job explaining your position.
No. 3: Embrace technology. We’ve all experienced having to do more with less and having to do it quicker and accurately. It’s too late to turn back; the machines are here to stay. Learn to use them to your advantage.
No. 4: Have a positive attitude. I know that it’s easy to say, and it can be tough when you’re faced with ever-mounting (or changing) demands, and fewer resources. But keep this in mind, every day when you open your eyes, you’re going to be presented with “opportunities” and how you deal with them is up to you. If/when you get really fed up, just remember it’s all relative. Some folks will have it better than you, and others won’t be as fortunate. So do the best you can with the goal of having a clear conscience at the end of the day.
The importance of balance
Finally, remember that having a non-work life is important to your mental health!
Here’s a quote from my high school yearbook (Do they still have those?): “If you’re not having fun in what you’re doing, why are you doing it?”
When asked if I would take this journey again, heck ,yeah I would. What about you?
C. Nahua Maunakea (Nahua.Maunakea@ihsmarkit.com) is the executive director of the Global Risk Management Department of IHS Markit in Englewood, Colo., and is an active member of the RIMS Rocky Mountain Chapter.
See also:
How do you rank? NU’s 2018 Risk Manager Compensation Survey