Effective risk management minimises the risk of unforseen events. For me, risk management enables our business to make informed choices about which paths take to achieve our strategy. The happy side effect of managing our risk position is that by managing risks, we ensure we remain compliant with our regulatory obligations.As a practicing solicitor, I am very aware of the benefits of identifying and managing risks, and the consequences of not effectively mitigating those risks. This experience has been vital in the financial world, as a structured approach to creating a governance and compliance framework is critical. My role includes maintaining and embedding LINK's approach to risk management, by helping the business identify risks, discussing the options to manage those risks, and providing independent oversight and challenge to provide assurance to the Board. I am responsible for reporting LINK's risk position to the Senior Management Team, the Risk Committee and the Board, allowing critical decisions to be considered in light of the risk implications. Stakeholder management is a critical component of successful risk management, and engaging in a positive and proactive way with both internal and external stakeholders is a constant focus. Distilling technical risk management theories down to a non-technical set of guides and instructions for first line colleagues is helpful in getting the right level of buy-in, which in turn drives our risk culture. Ensuring individuals are recognised when they make valuable contributions is also a key driver.There is no "one size fits all" approach to risk management, and the structures, processes and reporting we have in place at LINK has evolved to reflect the unique nature of the business and the environment within which it operates. Having good people to work with makes all the difference, and I work with a great team. To keep at the top of our game, it is important to learn from constructive feedback and share it with others too, so that we can all improve and achieve higher performance.
