Exploring the Finer Points of Risk Management
Deb Barnes had just stepped into a new role at QIC when she decided to attend the Risk Management for Corporate Leaders (RISK) program at Harvard Business School (HBS) Executive Education. She hoped the program would bolster her risk-management expertise to keep pace with her new responsibilities. She discusses what she learned from the program and how she applies that knowledge to the workplace.
Why did you decide to apply to this program?
I applied to the RISK program because of a strong endorsement from my boss, who had previously completed it. I had recently taken on a larger role in my organization's headquarters, with the responsibility of leading the firm's investment risk management team. This program seemed ideally suited to the challenges I was about to face.
What were your goals, and did the program help you meet them?
I wanted to deepen my knowledge of strategic risk management and develop skills in identifying, managing, and mitigating emerging risks. The program delivered on these objectives—and many more—through case studies, peer discussions, and interactive lectures. I left HBS with a far broader understanding of risk management than I could have anticipated prior to the program.
Which insights from the program resonated with you the most?
Since completing the program, I often find myself referring to the program's case studies at work. I use them to bring context to conversations, and I find my colleagues can relate to their key takeaways. The cases were fascinating, and offered powerful, real-life examples of risk management at its best and worst.
What surprised you most about the on-campus learning experience?
I was surprised at how much I could learn from risk professionals in other industries. I realized that we share many similar experiences, and I also gained brand new insights that have shaped the way I look at the world around me. I expected high-quality teaching from HBS, but the lecturers and guest speakers exceeded my expectations. They all offered extraordinary global perspectives based on deep experience in risk management.
What return on investment have you gained from this program?
Because of my experience in this program, I have implemented a number of HBS-inspired initiatives, and I'm now confident that my organization is more resilient to strategic and emerging risks. Some examples include appointing a Chief Protection Officer; establishing Investment Risk Roundtables with domestic and international peers; redesigning various forums and committees to create a better environment for challenging and debating ideas; enhancing our reporting frameworks; and establishing "coffee roundtables" with our CRO and staff at various levels of the organization to enable a better flow of information.
How would you describe the program's value to someone considering it?
This program is extraordinary. It's absolutely worth the investment of time and money.