Women in Financial Services
What will risk look like in the future? Careers in Risk
Mark.Freed / 20 Sep 2017
On September 19th thirty members of E2W’s Risk Team and our guest panel met to discuss careers in risk, the trends we are seeing and the skills that will be required to work in the risk function of the future.
It was really interesting to hear the panel explain that there isn’t a clear route into risk and that most of them had found their way into it via other professions varying from marketing to engineering, law to finance.
These diverse backgrounds, that aren’t directly related to risk, have helped the panel navigate the changing times in financial services, allowing them to draw on their past experiences to shape future policies and procedures within their organisations. There was a great deal of emphasis put on not being ‘siloed’ or stereotyped as one risk function and being willing to learn and diversify: “step out of your comfort zone and be prepared to mould your skills,” as Jo Paisley, put it.
A striking factor of the discussion was that the future of risk is digitalised and automated, for example, being able to mitigate the factors involved in quicker transaction turnaround times and the automation that will undoubtedly follow. As a community of risk managers, we must embrace the digitalisation of processes but also keep up with the challenges they bring – cyber-attacks and artificial intelligence being just two.
Data is a hot topic and one that financial institutions must acknowledge. As an industry, it was discussed, that we must move with the times and look to online giants such as Amazon and Google for their expertise in protecting data and using it effectively.
According to the panel, working in Risk in the future is going to require nimble risk managers who can be flexible and identify opportunities. As now, strong communication skills are critical as is educating those around you – “up-skill and cross-skill” your teams! Vigilance around the advancement of technology is a must and innovative ways to train should be considered such as innovation labs and taking tips from high-tech social media organisations.
The message from our very lively and engaging debate seemed to be that despite risk being a traditional area of any financial institution, it and its practitioners need to be progressive in order for risk mitigation to be effective & to move with the times.
“Thank you for a really interesting discussion and excellent panel.” E2W member
“The event was wonderful and very informative. Even though I am not in Risk I found it so interesting and very relevant. Please thank the panel for their open and honest discussion. Their journeys are encouraging!” E2W member
Panel members:
- Emma Jameson - Head of Model Risk Control, Santander UK PLC
- Heather-Anne Hubbell – MD & Partner, Governance and Risk Management Transformation Specialist
- Fiona Grandison - Managing Director, Treasury, Deutsche Bank
- Jo Paisley – career break, (ex Global Head of Stress Testing, HSBC)
- Natasha Davydova, Managing Director, Group Technology and Operations, Deutsche Bank
- Tina Freed, COO, E2W
About E2W
E2W is the go to place for women in financial services. Our members benefit from our outstanding careers support and advice. They also enjoy collaborating and networking with other members. Join them today
E2W is also the go-to place for financial institutions to claim the gender dividend. We help leading financial institutions recruit and retain more women. To see how visit our website
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