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You’re starting a new job in Risk Management. How can you develop a growth mindset to ensure success?

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Risk management is a dynamic and challenging field that requires constant learning, problem-solving, and communication skills. Whether you are a risk analyst, consultant, auditor, or manager, you need to be able to adapt to changing situations, identify and mitigate potential threats, and provide valuable insights to your stakeholders. To succeed in your new role, you need to develop a growth mindset, which is the belief that you can improve your abilities and overcome obstacles with effort, feedback, and perseverance. Here are some tips on how to cultivate a growth mindset in risk management.

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1 Embrace uncertainty

Uncertainty is inevitable in risk management, as you have to deal with complex and unpredictable factors that affect your organization’s objectives, performance, and reputation. Instead of fearing or avoiding uncertainty, embrace it as an opportunity to learn, explore, and innovate. Seek out new challenges and perspectives that can help you expand your knowledge and skills. Ask questions and seek feedback from your colleagues, mentors, and clients. Be open to different opinions and perspectives that can help you improve your risk assessments and recommendations.

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Carl C. Schuessler, Jr., DHP, DIA, GBDS

Managing Principal at Mitigate Partners | Delivering EMPLOYER-Built Health Plans | I Build Trusted Partnerships by Customizing Competitive Benefit Plans, Reducing Costs by Up to 38% and Saving Clients Over $100K Annually
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Below are some strategies to cultivate a growth mindset in your new role: Embrace Challenges: Learn from Failure: Seek Feedback: Continuously Learn: Adopt a Solution-Oriented Mindset: Set Stretch Goals: Cultivate Resilience: Foster Curiosity: Build a Supportive Network: Celebrate Progress: By adopting a growth mindset and implementing these strategies, you can cultivate a mindset of continuous learning, improvement, and adaptability that will set you up for success in your new role in risk management.

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2 Learn from failure

Failure is not a sign of weakness or incompetence, but a natural and necessary part of the learning process. In risk management, you will encounter situations where your assumptions, methods, or solutions are wrong, incomplete, or ineffective. Instead of dwelling on your mistakes or blaming others, learn from them and use them as a catalyst for improvement. Analyze what went wrong, what you can do better, and what you can learn from the experience. Apply your learnings to your future projects and share them with your team. Celebrate your progress and achievements, no matter how small.

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3 Seek feedback

Feedback is essential for your growth and development as a risk professional. It helps you identify your strengths and weaknesses, improve your performance, and align your goals with your organization’s expectations. Seek feedback regularly and proactively from your managers, peers, and clients. Ask specific and constructive questions that can help you understand how you can improve your risk analysis, communication, and decision-making skills. Listen to feedback with an open mind and a positive attitude. Thank them for their input and act on it.

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4 Collaborate with others

Risk management is not a solo activity, but a collaborative one. You need to work with others who have different backgrounds, expertise, and perspectives on risk. Collaborating with others can help you broaden your horizons, learn new skills, and generate better solutions. Seek out opportunities to join or lead cross-functional teams, projects, or initiatives that involve risk management. Share your ideas, insights, and best practices with your colleagues. Learn from their experiences, challenges, and successes. Support and appreciate their contributions.

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5 Keep learning

Risk management is a fast-changing and evolving field that requires continuous learning and updating of your knowledge and skills. You need to keep up with the latest trends, tools, and techniques that can help you perform your role more effectively and efficiently. Dedicate time and resources to your professional development. Read books, articles, blogs, and reports on risk management. Attend webinars, workshops, courses, or conferences. Join online or offline communities of practice or networks. Seek mentors or coaches who can guide you and challenge you.

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Ruperto Agustín Chapo?an Quiroga CIP, PMI (PfMP, PgMP, PMP, ACP, RMP, PMOCP)?, SFC?, SS YB.

Mech. Elec. Eng. | Portfolio Manager | Program Manager | Project Manager | Risk Manager | Agile | WEE | BIM | PMO | Contract Management EPC | ISO 21500 (Industries Energy, Mining, Telecommunications and Construction)
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To develop a growth mindset as a Risk Manager I believe you can: Adopt a growth mindset with a spirit and understanding that people will continue to learn and hone higher level skill sets, develop resilience, requires capable dynamic leaders to react and make decisions in environments full of volatility, uncertainty, complexity and ambiguity, learn quickly and implement what you learn in your daily work, effectively communicate ideas and thoughts in a clear and effective way to avoid misunderstandings and errors, and develop leadership skills, to be able to guide the team effectively.

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Suhas Vidhate

Technical Product Manager @ Cipla | M.Tech. Pharmaceutical operations and management - BITS | Advanced Strategic management - IIMK | Six Sigma black belt - KPMG |
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Analyze the risk: what are the certainty and uncertainty? What are the opportunity? Analyse the Risk impact. Measure the depth (financial and long-term), stakeholders involved. Find key stakeholders (more impacting). Risk mitigation plan: Seeking advice and feedback with experts, seniors. Stakeholder interactions, ways to minimize the risk impact, finally make a blue print of risk mitigation plan. Execution: initiation, ineraction, continues moniroring, responsibility awareness with all stakeholders, resolution of bottlenecks. Monitoring and accepting: readiness to accept impact, initiation of plan B. etc. Opportunity: analyse competitors and opportunities for growth.

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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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You’re starting a new job in Risk Management. How can you develop a growth mindset to ensure success?

1

2

3

4

5

6

1 Embrace uncertainty

2 Learn from failure

3 Seek feedback

4 Collaborate with others

5 Keep learning

6 Here’s what else to consider

Risk Management

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You’re starting a new job in Risk Management. How can you develop a growth mindset to ensure success?

1

2

3

4

5

6

1 Embrace uncertainty

2 Learn from failure

3 Seek feedback

4 Collaborate with others

5 Keep learning

6 Here’s what else to consider

Risk Management

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