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What are the best ways to transition into a risk management role with FM experience?

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If you are a facility manager (FM) who wants to advance your career and take on more strategic responsibilities, you might consider transitioning into a risk management role. Risk management is the process of identifying, analyzing, and mitigating potential threats and uncertainties that could affect an organization's objectives, assets, and operations. As an FM, you already have valuable skills and experience that can help you succeed in this field. In this article, we will share some of the best ways to transition into a risk management role with FM experience.

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Jahanzaib Qureshi

Facility & Workplace Experience Leader| Unilever, Frieslandcampina Engro, Tapal |
Nishith Agarwal, CPP, M.ISRM, LSSGB, PGDMO, PGDMHR

Head General Administration & Facilities management, Risk & Crisis management, Security, Thought Leadership, Process…

1 Understand the scope and value of risk management

Before you pursue a risk management role, you need to have a clear understanding of what it entails and why it is important. Risk management is not just about avoiding losses or complying with regulations. It is also about creating value and enhancing performance by aligning risk appetite with strategic goals, optimizing resources, and improving decision making. Risk management is relevant to every aspect of an organization, from finance and operations to governance and culture. As an FM, you can leverage your knowledge of the physical, technical, and human aspects of your facilities to contribute to the overall risk management framework.

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Nishith Agarwal, CPP, M.ISRM, LSSGB, PGDMO, PGDMHR

Head General Administration & Facilities management, Risk & Crisis management, Security, Thought Leadership, Process Improvement, ASIS Board Certified, Aviation Operations & Instructor (Manned & Unmanned), Veteran
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The first and the most important step towards Risk management is to understand the type of threat that your organisation is facing. Without this the effort may be misdirected. After a creful analysis of threats then teh processs may commence and depending on the severity, impact and probability teh mitigation steps may be prioritized. Some risks may be identified as opportunities for better performance. As a FM expert your skills and knowledge base may be exxtermely cruical to identify risks and align the mitigation strategy..

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2 Assess your current skills and gaps

In order to transition into a risk management role, it is important to assess your current skills and identify any gaps that need to be filled. Core skills essential for risk management include analytical and critical thinking, communication and collaboration, problem-solving and creativity, and leadership and influence. As an FM, you may already possess some of these skills, but you may need to further develop or enhance others. For instance, you may need to hone your financial and strategic risk analysis, as well as learn new tools and techniques for risk identification, assessment, and reporting.

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Nishith Agarwal, CPP, M.ISRM, LSSGB, PGDMO, PGDMHR

Head General Administration & Facilities management, Risk & Crisis management, Security, Thought Leadership, Process Improvement, ASIS Board Certified, Aviation Operations & Instructor (Manned & Unmanned), Veteran
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As a normal FM practitioner you would be carrying out risk management at smaller level daily. You would have SOPs in place to mitigate regular risks. The importance lies in moving beyond these daily risks and look at long-term risks, organisational factors and question things which were taken for granted till now. A large step would be to collaborate with other departmenst and look at their perspectives and how your and their actions affect risks.

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3 Pursue relevant education and certification

One of the best ways to boost your credibility and competence as a risk manager is to pursue relevant education and certification. There are many courses and programs that can help you learn the fundamentals and best practices of risk management, as well as specific domains or sectors. For example, you can enroll in a general risk management course offered by the Project Management Institute (PMI) or the International Organization for Standardization (ISO), or a specialized course on facility risk management offered by the International Facility Management Association (IFMA) or the Facility Management Institute of Australia (FMA). You can also obtain a professional certification from a recognized body, such as the Certified Risk Manager (CRM) from the National Alliance for Insurance Education and Research, or the Certified in Risk and Information Systems Control (CRISC) from the Information Systems Audit and Control Association (ISACA).

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Nishith Agarwal, CPP, M.ISRM, LSSGB, PGDMO, PGDMHR

Head General Administration & Facilities management, Risk & Crisis management, Security, Thought Leadership, Process Improvement, ASIS Board Certified, Aviation Operations & Instructor (Manned & Unmanned), Veteran
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While you may have practical knowledge and some basic idea of risk management on alower scale, to go deep into structured risk management you require certificatiosn an dgood coaching. This sets your risk management processes in corrcet order and provides you with desired skill sets to foresee and plan accordingly. Playbooks are helpful but they need to be customised as per your settings.

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4 Seek mentorship and networking opportunities

Another way to transition into a risk management role is to seek mentorship and networking opportunities with other risk professionals. You can benefit from the guidance, advice, and feedback of someone who has more experience and expertise in risk management, and who can help you navigate the career path and challenges. You can also expand your network and connections with other risk practitioners, who can share insights, resources, and opportunities with you. You can find mentors and networks through your existing organization, professional associations, online platforms, or events.

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5 Demonstrate your value and potential

To transition into a risk management role, it is essential to demonstrate your value and potential to your current or prospective employer. Highlight FM experience and skills that are relevant and transferable to risk management, such as managing complex projects, ensuring compliance, and optimizing performance. Show interest in learning and applying risk management concepts, tools, and techniques, such as conducting risk assessments, developing risk plans, and monitoring risk indicators. Consider volunteering or taking on additional responsibilities that involve risk management, such as participating in risk committees, leading risk workshops, or supporting risk audits. Additionally, seek feedback and improvement on your risk management skills and performance, then showcase your achievements and results. By doing these things, you can increase your chances of transitioning into a rewarding and challenging career in the field of risk management with FM experience.

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6 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?

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Jahanzaib Qureshi

Facility & Workplace Experience Leader| Unilever, Frieslandcampina Engro, Tapal |
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One of the finest role FM can take because of their risk assessment expertise is Safety and Security, Safety and security is all about identifying hazards and Risks. Other role is sustainability FM can identify risk associated with adopting non sustainable practices.

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What are the best ways to transition into a risk management role with FM experience?

1

2

3

4

5

6

1 Understand the scope and value of risk management

2 Assess your current skills and gaps

3 Pursue relevant education and certification

4 Seek mentorship and networking opportunities

5 Demonstrate your value and potential

6 Here’s what else to consider

Facility Management (FM)

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What are the best ways to transition into a risk management role with FM experience?

1

2

3

4

5

6

1 Understand the scope and value of risk management

2 Assess your current skills and gaps

3 Pursue relevant education and certification

4 Seek mentorship and networking opportunities

5 Demonstrate your value and potential

6 Here’s what else to consider

Facility Management (FM)

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