The only constant is change. That has been my motto since day one! As I've grown older, change has become my constant companion, and it seems to be picking up speed.
Now, I'll be the first to admit, it's been a while since you heard from me. Blame it on the holidays and a few changes: I've taken on a new role as the COO at my credit union. In addition to my previous job, I am now also overseeing the retail side, which includes branches, the contact center, and branch operations.
I have to say that it was a sad moment when I changed my email signature, and I have yet to update my LinkedIn profile. I spent years working my way up to Chief Risk Officer, and my passion lies in risk and resilience. The reality though is that business needs changed, and so my role has as well.
Balancing my COO duties with my risk management background is going to be an interesting journey. I am sure I am not the first COO with a risk background, but I've been pondering the pros and cons of this transition for a bit now:
PROS:
I know how to express risk and quantify its impact. That's going to come in handy when I present strategies, request budget allocations, and stand by my decisions. After all, risk managers are all about improving decision-making. I'm like a two-for-one deal now.
I don't need to sell the operations side on the importance of a solid business continuity and vendor risk management strategy – I still oversee those areas.
I also still have compliance in my area, which means more influence on ensuring we stay compliant.
My platform within the organization just got a whole lot bigger. That is going to be an amazing opportunity to make an impact!
CONS:
I'm about to get busier than a beehive during summer!
Transitioning from the second-line perspective to being the risk owner is a big shift. No more presenting residual risk and passing the decision-making baton. I'm the decision-maker now, and I'll be accountable.
Oh, did I mention I'm going to be incredibly busy?
It's been a decade since I was in the retail space, so there's some catching up to do.
Not having a centralized risk function could pose some challenges, but I see it as an opportunity to foster collaboration and break down silos.
I am looking at this as a remarkable opportunity to showcase my operational strengths and continue to cultivate a culture where people ask questions, evaluate risks, and seize opportunities. It's a chance to spread the importance of risk management and resilience, especially in today's world.
Glass half full it is!
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