What do you do if you're a risk manager seeking new growth areas and opportunities?

O papel de um Gestor de Risco, é de extrema importância para as tomadas de ações em desenvolvimento de novas áreas de crescimento ou para desenvolvimento de negócios. Neste caso se exige um trabalho de mapeamento dos riscos bem como seus possíveis planos de ações e seus respectivos custos. Esse plano de risco deve ser analisado e incluído junto ao Business Plan para se ter uma análise macro de todo o processo e futuras ações. As análises de tendências, cenários prospectivos e óbices são vitais para a entrega de um excelente plano de risco.

Growth is subject to one's knowledge in a subject matter and perseverance in the related domain. To grow as a risk manager, consider pursuing certifications like CAMS, CFE, FRM or CBCP, focusing on high-demand areas like cybersecurity, operational risk, climate risk, or political risk. Expand your industry experience by transitioning to sectors like healthcare, technology, or finance where risk management is crucial. Transition into leadership roles, such as Risk Management Director or Chief Risk Officer, or develop consulting skills. Stay updated on emerging technologies like AI, big data analytics, and blockchain, and develop innovative risk management software solutions and training programs. Network and learn continuously.

The human spirit thrives on exploration, and comfort can stagnate it. Embrace change, pushing through familiar territory for growth and discovery. Unfurl sails and chart a future filled with possibilities. To prepare for an internship in risk management, research subfields and target internships aligned with your chosen field. Develop a strong foundation in risk management principles through coursework and industry certifications. During the internship, be proactive, inquisitive, and problem-solving. Network with colleagues and quantify achievements. Continue learning through online courses or advanced certifications.

As a risk manager seeking new growth areas and opportunities, it's essential to adopt a proactive approach. Start by analyzing current market trends and emerging industries to identify potential areas for expansion. Conduct thorough risk assessments to understand the challenges and opportunities associated with each potential venture. Collaborate with cross-functional teams to brainstorm innovative strategies for mitigating risks while maximizing growth potential. Additionally, stay informed about regulatory changes and technological advancements that could impact your industry. By embracing creativity, adaptability, and strategic thinking, you can effectively navigate uncertainties and capitalize on new opportunities for growth.

One thing I’ve found helpful is to conduct thorough market trend analysis to pinpoint new growth areas. This involves examining industry reports, analyzing competitors, and staying abreast of economic forecasts. By understanding the direction in which your industry or the market at Large is heading, you can identify emerging sectors that may present lucrative opportunities. Remember, it’s not just about following the trends but also about anticipating where they can lead and how they can be leveraged to your organization’s advantage.

Effective stakeholder engagement is crucial for gathering diverse perspectives and insights. By involving key stakeholders such as customers, employees, and industry experts, risk managers can gain valuable input on potential growth areas.

Sempre o envolvimento de stakeholders relacionados com as atividades principais é de grande importância. Esse trabalho de elaboração de mapa de risco em conjunto ao planejamento estratégico e business plan ditará o aperfeiçoamento do trabalho com garantindo uma grande assertividade.

As a risk manager tasked with identifying new growth areas and opportunities, strategic stakeholder management becomes paramount. By actively engaging with key stakeholders throughout the project lifecycle, I aim to discern their evolving needs and preferences, enabling proactive identification and exploitation of emerging opportunities within the realm of risk management. This approach ensures not only the successful execution of projects but also cultivates an environment conducive to continuous innovation and sustainable growth.

I focus on stakeholder engagement so that we can ensure risk ownership. Also it will help to reduce the impact of risks and closure

Firstly, there's a fallacy in the approach. A risk manager does not seek "lucrative opportunities" in their job. The profit lies solely in avoiding losses due to the company's exposure to risks. If we analyze "assess trends," it could eventually mean thoroughly exploring those situations that implied "not making hedges" due to a low propensity for risk. Forcing the answer, I would say it's about analyzing changes in trends that expose the company to risks, never before considered.

Big Data is key when mitigating risk. You need to run your analysis whether it be a regression analysis, and IRR, Net Present Value or a myriad of other type of ratios you can apply to your company. Key is collect data and use the data you have collected. Also you can get data from more than the KPI's you collect from your company. If you are not collecting data to analyze start now and collect often.

As a risk manager analyzing and gaining from data, I look at the following steps 1. Define Objectives: Clearly define objectives for data analysis. 2. Lock in specific risks or areas of concern you are aiming to address through 3. Collect Relevant Data: scrub the data collation plan 4. Clean and Prepare Data: Cleanse and preprocess the data to ensure accuracy and consistency. 5. Risk Identification and Assessment: Use data analysis to identify potential risks and assess their potential impact and likelihood. Look for key risk indicators (KRIs) and early warning signals that can help in proactive risk management.

One thing I’ve found helpful is engaging stakeholders early and often. By involving key stakeholders such as executives, department heads, and frontline staff in discussions about potential growth areas, you can gain valuable insights and buy-in from those who understand the business intricacies best. Additionally, data analysis plays a crucial role in identifying growth opportunities. By leveraging IT tools and techniques, you can analyze customer data, financial reports and operational metrics to undercover patterns and insights that inform strategic decision-making. This approach helps reduce the risk of venturing into unprofitable areas by ensuring that growth initiatives are grounded in solid data and insights.

Risk managers should foster a culture of strategic innovation within their organizations, encouraging experimentation and creative problem-solving to capitalize on new growth opportunities.

As a risk manager, seeking new growth areas and opportunities requires a strategic approach to innovation. I focus on identifying emerging markets and leveraging cutting-edge technology to assess and mitigate risks effectively. Additionally, I prioritize collaboration with industry experts to stay ahead of trends and capitalize on new opportunities before they become widely recognized.

Podemos dizer que a inovação estratégica deve sempre acompanhar o Gestor de Risco, como inovação de uma forma generalista é o que define um bom profissional em nossos dias atuais. O famoso "pensar fora do quadrado", é um grande desafio e exige do profissional uma reciclagem acadêmica diária. (Educação Continuada). Somente assim as empresas conseguirão chegar a soluções mais precisas, a um custo menor. Essa é a habilidade do profissional do futuro.

Risk management works better in small and medium-sized enterprises when shareholders are involved, especially if they have managerial and operational roles. Everything works better when the shareholder understands the scope of the area. This is particularly true when it comes to covering risks with call or put options, as they will need to approve the budgets.

Innovating strategically means finding new way to make life simpler and easier. The ideas and methods to get there may be complex but the result should be simple and easy.

As a risk manager seeking new growth areas and opportunities in the financial services industry, consider the following steps:Market Analysis: Conduct thorough market research to identify emerging trends, potential gaps, and areas of opportunity within the industry.Risk Assessment: Evaluate the risk-return profile of potential growth areas to ensure alignment with your organization's risk appetite and strategic objectives. By adopting a proactive and strategic approach to identifying and pursuing new growth areas, you can effectively manage risks while unlocking opportunities for business expansion and value creation.

If you can do it alone, you can do it better with partnerships. Sure we can push a rock up a hill but having a partner help you carry it is always better. I have been accused pushing that rock and even carrying that rock alone. But I have learn that partnerships are keep to success and key toachieving greater heights. When you collaborate with others, you not only distribute the weight of the load but also benefit from diverse perspectives, skills, and resources. Partnerships can amplify strengths, mitigate weaknesses, and foster innovation. Partnerships cultivate a sense of community and shared ownership, making the journey more fulfilling and sustainable. As the saying goes, "Alone we can do so little; together we can do so much."

One thing I’ve found helpful is engaging stakeholders from various departments and level of the organization. By involving key stakeholders early in the process, you can gather diverse perspectives and insights that can inform your search for new growth areas and opportunities. Additionally, building strategic partnership can be instrumental in unlocking new avenues for growth. By collaborating with other organizations, you can access new markets, technologies, and expertise that can enhance your competitive advantages. However, it’s crucial to conduct thorough due diligence to ensure that any partnerships align with your organization’s static objectives and mitigate potential risks.

Continuous skill development is vital for adapting to evolving business landscapes. Risk managers should invest in training and development programs to equip themselves and their teams with the necessary competencies to pursue new opportunities

Quando um profissional investe em suas habilidades, desenvolvendo e capacitando assuntos mais gerais possível, ele desenvolve uma visão holística que trará maior segurança, sensibilidade para tomada de decisões e inovação estratégica.

This is simple... Invest in yourself by investing in programs and courses that make you a well-rounded manager and partner. I heard the other day that you should be adding new skills to your tool box every 10-18 months. Keep investing in yourself by learning new skills.

Continuing education and skills development is the foremost helpful thing you can do to invest in your future as a risk professional. With emerging risks being a constant threat staying abreast of the latest and greatest best practices, regulatory changes, and industry standards is setting yourself up for a successful future!

Keep our ears to the ground and always listen to our calling we have inside our mind that we would need to achieve in our next project so that we will be able to recognize any golden opportunity that will match it and be presented to us out of the blue so that we'll be able to seize it with both hands on the spot.

1. Learn, learn learn. Go back to school and make reading a habit :) 2. Have a beginners mindset. 3. Add value. 4. Create impact with your skills, experience and knowledge 5. Network. If you are intentional, it will be noticed and there won't be dearth of opportunities.

Identifying risks associated with new growth area would be my first priority like legal risk, regulatory risk, financial risk, reputational risk and so on. For instance, legal risks, when our company is planning to enter in an international market. ,I will assist to analyze the legal requirements if they suit the working policies, financial capacity, market target. For example the product might not be legally accepted by the majority in relationship to culture/religion of the country. So investing in a such target market would be risky. There might be new opportunities but assessing them in both short and long term benefits is important other wise it would bring high risk to the organisation that might lead to the decline of the firm. .