Why you need DRIVE to be successful in Risk Management

Determination:  Be prepared to make tough decisions including those that constrain business activity.  Data Driven:  Transparency is the key to identifying risks and avoiding the bias that can come with gut feel.

Resourceful: be creative in how you use your time and resources to focus on analysis and decisions that have the most impact. Respected:  Cultivate respect by being measured in what you say; using data to support your case.  Listen and be open minded.   Risk/Reward:  Understand the Risk/Reward tradeoffs – be commercial in your decisions. 

Insight/ Intuition:  Follow your intuition to identify potential future risks.    Challenge success.  Be proactive. Independence:  You have the independence and freedom to focus on the areas of risk you think could manifest a number of years down the road.  Many catastrophic risks are years in the making.

Vigilant: Defend against the recurrence of risks that have occurred in the past or in other organizations.  Complacency kills!  . Visionary:  look for the next risk that could threaten your business.  Be creative – think about the worst case scenario and use this as an opportunity to strengthen controls to prevent that scenario from occurring.

Empowered & Empowering:  You are empowered to chase down risk.  Empower your team with the same mindset.

What behaviors do you think are critical for success in risk management today?

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