How can a diverse mentorship help you succeed in Risk Management?

Having diverse mentorships has proven to be personal and professional leadership development GOLD! Some of my best mentors have challenged me to rethink and grow in "thought leadership", innovation and helped me to overcome some great challenges. I've often tapped a cross functional partner who's a key stake holder or someone who's background has key attributes I need to develop. When I wanted to understand ways to leverage data analytics more to identify and solve complex problems I found myself spending more time with my peer in that group and tapped the Head of for more mentor sessions. Often attending their office hours to learn more from them. I engage with leaders from different industries who share similar challenges for unique ideas

Everyone sees the world differently. And often, not as you expect. Try to understand where that person is coming from, why they have the outlook they have, where they are going and want to be. Choose your mentors wisely. You don't have to agree with them, but you should "hear" them. Effective management of risk demands you "hear" all the whispers and many mentors wisely whisper.

I would highly recommend getting a competent professional writing mentor with over a decade of writing experience… who can write for a wide audience from the layperson to a technical practitioner, preferably one who has been writing risk analysis/assessment for a Rating Agency for a very long time…!

I think it’s important to have diverse mentorship, because you get more exposure. Most of the banks I have worked for have differences in their approach to analysis, which is why I always find it important to familiarize myself with policy and talk to legacy risk management professionals to understand why they do it their way. When we collaborate, each has a unique perspective based on what they were taught or what they experienced in their career. I had a credit administrator say he would never approve a jewelry store because he took a loss on one (they didn’t do the proper due diligence). The more diverse mentorship, the more you learn. When you collaborate you can make sure “i’s are dotted & t’s crossed”, to protect clients and the firm

A Risk Management practice team gains massive knowledge from a diverse mentorship, as they get know-how from different perspectives and methods of risk management. Moreover, it can help you develop a more comprehensive understanding of the RM subjects to demonstrate the current and give an outlook to new opportunities for growth and development, supporting your view to be more creative and futuristic. Enhance your way of doing your business as RM to become more expert. Gives a full picture/ future outlook to visualize the future from RM perspective.

To find a diverse mentor, start by setting clear objectives on what areas you wish to grow or learn in risk management. Look beyond your immediate circle. Engage with professionals from different sectors, backgrounds, and expertise levels. Networking events, industry conferences, and social platforms such as LinkedIn can be great grounds for this. Seek a mentor from a different cultural background or gender to gain unique perspectives. Also, consider reverse mentoring – learn from younger professionals who could provide insights into new trends or technologies. Don’t limit yourself to one mentor; having several mentors for different facets of your professional life can help achieve well-rounded growth.

This is generally not hard at all. I have often approached substantially more senior people with whom I have worked, asking them for advice and feedback. Generally, they take it as a compliment rather than an annoyance. BUT, it also requires humility on the part of the mentee to accept and internalize the feedback given. I must admit that I was sometimes guilty of letting my ego get in the way of this, resulting in the loss of potentially good mentor relationships. The easiest way to find a mentor is to define what you want, i.e. career advice, technical assistance and direction, etc., and just ask. You will rarely be declined and if you are, you potential mentor probably wouldn't have been a good mentor anyway.

Agree with Mike below. All about respect, and I would add humility. If you are truly seeking assistance and advice, this shows through very quickly to an experienced person, especially since you are entering their domain of expertise and competence. If you are simply being a career or social climber, it is very apparent to the mentor that they are being used. Sincerity is as hard to fake as trust is to achieve. Be very sincere and upfront about your objectives if you want the relationship to succeed.

Diversity often drives innovation. By working with mentors who have varied experiences and backgrounds, you're more likely to approach problems creatively and find innovative solutions for managing risks. Mentors from diverse backgrounds can also introduce you to a broader professional network. This can be invaluable in risk management, where building relationships and understanding different sectors or industries can provide critical insights and opportunities.

Mentorship should always be diverse - some will help us grow technically, some will help us grow as a leader and some may help us move through life. Each nature of mentor plays an important role, hence the diversity helps us to learn the best from their experience. One should have the discernment to decide what kind of mentor is needed in their life - depending on the challenges or areas of growth they need guidance on.

Among the challenges of having diverse mentors is that the mentee must have a rich and varied background. This assumes that he has experience and, above all, strong commitment and endurance work. I think that it is through action and the real world that the relationship of trust develops between a mentor and a mentee with an ambitious objective of controlling risks at a high level of criticality.

If you want to support and even leverage diversity you need to encourage healthy champion/challenger interactions on proposed credit changes. In credit risk it's easy to convince yourself the data is showing you clear trends you can capitalize on. In that moment you need FRESH and DIVERSE eyes who can constructively poke holes in it, challenging other team members to examine segments that could contradict (or confirm!) the hypothesis. "Group mind" in credit risk means eventually losing your shirt because everyone's convinced of the same picture the data seems to be describing, even if it's catastrophically incorrect.