What are the best ways for risk management professionals to stay current with industry trends?

Joining professional associations like GARP or PRMIA in financial risk management offers several benefits. Access to specialized publications and webinars keeps you updated with the latest industry trends. Attending events and obtaining certifications enhances your professional skills. Most importantly, these associations offer networking opportunities, allowing you to connect with peers, exchange ideas, and gain insights from experienced professionals in your field. This not only broadens your perspective but also opens up avenues for career advancement and collaboration.

I think the common view is to chase credentials and "upgrade" yourself by sitting for more courses and exams like FRM, Financial Engineering and learning more about AI. While these technical skills are useful and may give you an edge, by itself it doesn't necessarily make you an up-to-date risk manager. For me, the key way to stay current with industry trends is to read widely and speaking constantly with the business. What are the potential flashpoints that could hurt the book badly and how can risk managers help mitigate them. Be proactive. If you are a commodity risk professional, take time to understand the bond and equity markets and also build up your understanding of the socio-economic-political tensions in the world.

One of the most effective strategies for professionals to stay abreast of industry trends is by becoming active members of relevant professional associations tailored to their specific field or sector. Take, for instance, individuals engaged in financial risk management; they can greatly benefit from affiliating with esteemed organizations like the Global Association of Risk Professionals (GARP) or the Professional Risk Managers' International Association (PRMIA). By joining such associations, professionals gain access to a wealth of resources and opportunities. These include access to cutting-edge publications, informative webinars, engaging events, valuable certification programs, and extensive networking avenues.

These associations serve as knowledge hubs, providing a wealth of resources, networking opportunities, and a platform for ongoing education. They offer a collaborative environment where professionals converge to share experiences, exchange ideas, and discuss emerging trends. Moreover, these forums host seminars, workshops, and conferences, offering firsthand exposure to the latest developments and innovations within the industry. Membership in such associations often grants access to exclusive publications, research papers, and reports, delivering valuable insights and up-to-date information.

Continuous Learning: Engage in ongoing education through courses, certifications, or workshops focusing on emerging risk trends. Industry Publications: Regularly read industry journals, articles, and publications to stay updated on evolving risk landscapes. Networking & Conferences: Attend industry conferences, webinars, and networking events to exchange insights and learn about current trends from peers. Professional Associations: Join risk management associations and participate in forums, discussions, and webinars they offer. Mentorship & Collaboration: Seek mentorship or collaborate with experienced professionals to gain firsthand knowledge of current industry practices and trends.

I would suggest subscribing to LinkedIn newsletters of top voices in Risk management. These days its a simple and powerful tool.

There are 3 types of thought leaders to enhance your risk management perspectives. - follow top global thought leaders for best practices. - follow top local thought leaders for contextualised practices. - follow top global and local leaders in another seemingly unconnected industry to innovate your risk management approach. This is your edge.

Make your long term goal plan and stick with that. Maintain financial de risking through FDs. Your long term goal will warn you for continuing to unlearn and learn.

To keep up with what's happening in risk management, professionals can read magazines like Risk Management Magazine and websites like Risk.net. They can also follow experts on social media and join online events hosted by groups like the Risk Management Society. Going to conferences and joining discussion groups online or in person can help too. These things help professionals learn new ideas and stay updated on what's going on in the field.

To expand more on just following thought leaders on social media platforms like LinkedIn and X (fka Twitter), do consider directly engaging with those thought leaders by liking, commenting on, and sharing their posts. Thoughtful comments can spark interesting discussions and increase your visibility as well. From my experience. I have found active engagement more fruitful in learning than passive engagement.

participating in webinars and events pertinent to your field or sector is effective method. These events can be either online or offline, free or paid, and can cater to local or global audiences. Attending such gatherings provides invaluable opportunities for professional development and networking within the risk management community. For instance, professionals in the field may consider attending events like the Risk Management Summit, an annual gathering that convenes risk management professionals from diverse industries and geographical regions. Similarly, the Risk Awareness Week offers an online platform featuring expert speakers and practitioners discussing pertinent risk management topics. L

Participating in webinars offers a unique opportunity to gain insights from the experiences and expertise of others. These virtual events bring together professionals, thought leaders, and industry experts who share their knowledge, challenges, and success stories. Attendees can learn about emerging trends, innovative practices, and real-world applications directly from those who have navigated similar situations. The interactive nature of webinars allows for Q&A sessions, fostering direct engagement and the exchange of ideas. This broadens our understanding, and provides practical takeaways that can be applied to one's own work or industry context.

Staying updated and well-informed within any industry is fundamental to professional growth and maintaining a competitive edge. Attending webinars and events tailored to your field or sector presents a robust platform for continuous learning and networking, offering a third but invaluable avenue to remain current with industry trends. Webinars, both live and recorded, have emerged as an accessible and flexible means of learning. They offer a diverse range of topics and insights, often delivered by industry experts or thought leaders. These online sessions allow professionals to delve into specific subject matters, explore emerging trends, and gain practical knowledge from the comfort of their workspace or home.

There is a good chance we will get very internally focused within our work places and it will curtail innovative thinking and out of the box ideas. With our working and personal lives becoming even more busier it is quite difficult to find time for external knowledge activities. However, if you can combine your work place with external Risk management organisations it can be a win win situation. One example is bringing new thoughts / webinars into your own organisation by sponsoring events / networking session which many companies are open to. This can not only help you but also your organisation you are working for !!

Attending seminars is another way of meeting industry peers on top on joining an association. As for webinar, since information is accessible nowadays. The best insights lies in noting down the questions on the floor during Q&A session.

I suppose READING in this social media world is very underrated. Reading subject specific articles/ blogs gives so much insight in an area. One can always build on and connect the dots and validate their understanding. There are various mediums available such as online reading, subscription to a journal/ magazine, blogs, management books, etc. Happy Reading !!

O processo de atualiza??o nas práticas de gest?o de riscos passa pelos mesmos caminhos de qualquer área. Estar acompanhando sempre os profissionais de referência no setor em redes sociais como o LinkedIn, além de páginas especializadas. Como refor?o, a presen?a em eventos é workshops ajuda bastante, sobretudo à ter um network qualificado na área.

Read publications and reports from reputable sources. Form a rough understanding on the trend. And be open to non-reputable sources or forums like Reddit or Quora. These places gives you unfiltered views about what might actually be happening on the ground. Then draw connections and form your independent opinion.

Since I read a lot about risk management, I come across a lot of new information which grabs my attention. One of the topics that I really enjoyed reading about was ESG risks, thus I researched about a course that details this subject. There are a lot of online free courses which explains risk management topics, you can find them on coursera for example. I have taken a lot of courses and specialization certifications from top university and institutions through coursera!

Enrolling in courses and programs allows you to connect with peers, instructors, and industry experts. Networking with fellow participants can provide valuable insights and perspectives on current industry trends. Furthermore, it can also lead to certifications and credentials, which not only validate your knowledge but also demonstrate your commitment to staying current with industry trends.

Para estar atualizado com as tendências do setor é essencial a busca ativa de informa??es através de sites especializados, redes sociais e com o seus contatos e parceiros comerciais, compartilhando e fortalecendo ainda mais o seu network. Estamos vivendo um momento onde a informa??o é a chave do sucesso.

Actively engaging in professional development activities such as attending conferences, workshops, and webinars focused on risk management topics. Additionally, they should regularly read industry publications, journals, and reputable online resources to stay informed about emerging risks, regulatory changes, and best practices. Networking with peers, participating in online forums, and joining professional associations can provide valuable opportunities to exchange knowledge, share experiences, and stay updated on the latest developments in the field. Lastly, pursuing relevant certifications and continuing education courses ensures that professionals remain knowledgeable and adaptable in an ever-evolving risk landscape.

Here are some ways risk management professionals can stay up-to-date on industry trends wrt risk management - Identify risk domains Follow reputable sources Use online tools and platforms Learn from others Reflect and apply Read industry publications Attend industry conferences Network with other professionals in the field

By actively engaging with peers, mentors, team members (both senior and junior), you gain different perspectives on risk management and varied insights on how other professionals address various challenges in the risk sphere. There are various risk strategies and tools that may help one in different situations and it is best to learn from those who might have applied them in real scenarios rather than restricting oneself to purely theoretical knowledge. The engagement with peers could be informal like sharing ideas and best practices over a cup of coffee or through messaging in groups or it may be in a formal setting through participation in round-table sessions and breakfast meetings; or even through networking at conferences or events.

By actively engaging in continuous learning. This includes subscribing to reputable industry publications, attending conferences, and participating in webinars or workshops. Networking with peers and joining professional associations provides valuable insights and access to a community of experts. Embracing online courses and certifications can enhance skills and keep professionals informed about evolving risk management methodologies. Lastly, staying informed about global economic and geopolitical developments ensures a comprehensive understanding of the factors influencing risk landscapes. Combining these approaches helps professionals proactively navigate and address emerging challenges in the dynamic field of risk management.

One of the best ways for a risk management professional to stay relevant is to ensure that we are positioned for all kinds of growth and adversities that will be coming our way. If we think about it, we will never be able to make all the right judgement calls in the short term. It is an educated guess, but it may still be wrong. But if we are prepared to ride through the downside risks and positioned for any upside gains at the same breadth, we may not be right in the short term, but we will be able to capture almost all of the long term gains of the entire market over decades of investing experience! So understanding how markets work and managing our own emotions in the swings of the markets can allow us to continuously stay relevant.

Keep tracking on (non-exhaustive): 1. Regulatory environment; 2. Economic environment; 3. Model development strategies, frameworks, techniques and approaches within the specific sector; 4. Technologies and programming skills better suited for the execution of No. 3; 5. Product development in the respective field, inside and outside your company; 6. Of course: your company strategy and goals.

Be careful of what experts have to say. So many tell you the problem without ever offering a solution. So many articles about how heat maps are useless and dying, but never an alternative suggested. Be cautious about those who proclaim expertise, but have little substance. They will be expensive cowboys for little value. Build a network and ask them to contribute to your specific point. You can never stop a Risk Manager having an opinion!

It is important to gain insight on latest practices and trends, but all methodologies do not fit every organisation. Understand the organisation’s structure in depth and assess whether improvement in the existing risk management is required and implement newer practices if the revised strategy will enhance the existing controls and eliminates gaps.