An IRM qualified professional has an eye for detail for every scenario and not just numbers/statistics. This includes evaluating everything from supply chains to staffing, managing broader initiatives and more people and collecting, analysing data to make strategic decisions.
Making timely decisions is crucial for managing risk as if the time passes then the cost of time, labour and equipment may rise. Be it a risk analyst or a Chief Risk Officer, an IRM professional is equipped with intense decision-making skills.
Risk is never stagnant; it is ever-evolving. An IRM qualified professional may have to handle a reputation crisis one day, and deal with a threat to data integrity another day. It is all about embracing ambiguity and shifting focus.
An IRM qualified professional ensures that everyone understands the company’s risk management strategy. This means knowing how to liaise with staff, seniors, auditors, law firms, insurance brokers and industry peers and when to escalate matters to the board of directors. This also includes influencing people for effective negotiations and the power of persuasion to sway fellow executives.
The term “risk appetite” means to gauge how much risk an organisation can take up and successfully account for. An IRM qualified professional understands the risks that the company is taking and applies the appropriate tolerance metrics to find a balance in limiting risks.
An IRM qualified professional demonstrates analytical and creative problem-solving skills that will help in designing risk management solutions and processes for an entire organisation.