The industry’s next generation is coming into the market, laser-focused on building careers in risk management. We asked three up-and-coming ‘ones to watch’, which tools they think are most valuable in mitigating the risks of the future
As the risk industry continues to blossom and grow, the importance of nurturing the next crop of talent is increasingly understood.
With this in mind, the risk management society RIMS presented 20 students with Anita Benedetti Student Involvement Program (ABSIP) scholarships, funding their travel and attendance to the RISKWORLD® 2024 conference in San Diego, US, this May.
The ABSIP program, which is sponsored by The Spencer Educational Foundation, recognises and rewards the achievements of the most outstanding undergraduate and graduate risk management students.
“The overwhelming success of today’s risk professionals has brought risk management to the forefront, making the profession even more appealing to college students,” says RIMS president David Arick.
“Programs like the ABSIP are critical to ensuring that these up-and-coming risk leaders are ready to dive into the profession and succeed.”
We caught up with three of the grant winners, to get their take on some of the biggest risks facing corporates today, and how the industry must evolve to be fit for the future.
WHAT DO YOU THINK IS THE MOST VALUABLE RISK MANAGEMENT TOOL AT OUR DISPOSAL?
Owen Ticer, University of Southern California: “
“The most valuable tool available in the practice of risk management is human capital. Many risk professionals are incredibly bright and creative people who are continually innovating and developing new risk management solutions.
“When risk professionals apply their knowledge and skills to address emerging and evolving risks, they help to strengthen the practice of risk management.
“Events like RISKWORLD are vital because they allow risk professionals to share their knowledge with others.”
Zuzana Nedeljakova, University of Calgary:
“Without a doubt, there are incredible data management and visualisation softwares, predictive analysis tools, etc., but I do think that the most important risk management tool is, and will always be, communication within the community.
“Events such as RISKWORLD, local RIMS chapter events like the monthly Southern Alberta RIMS breakfast in Calgary, and resources like StrategicRISK are crucial for identifying emerging risks and staying up to date with all things risk, worldwide.
“Without strong communication and relationships within the risk management community, there would be a large gap in knowledge among companies and risk professionals.”
Nick Patwardhan, Mississippi State University:
“Artificial Intelligence. One of the most important steps in risk management is risk assessment. AI can be used to streamline risk assessment by processing vast datasets, automating routine tasks, and even contributing to brainstorming.
“While AI may not replace employees, it undeniably has the capacity to significantly improve their work lives, making tasks more manageable.”
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