9 The IERP®Monthly Newsletter July 2018
In implementing enterprise risk management in your organisation, people will be your most important resource. It doesn’t matter whether you are seeking to establish or support enterprise risk management in your organisation, making strategic decisions for your company, or managing the talent. Establishing a good network of working relationships is essential to your success as a risk practitioner, and developing your emotional intelligence is what will enable you to influence top decisions and culture in your organisation – without using overly aggressive, fear-based tactics.
3 Benefits of Developing Emotional Intelligence as an Enterprise Risk Practitioner
Emotional intelligence is more than just being a decent human being (though some have trouble with that, too). It is the ability to understand emotions, both yours and others, so that you can manage your behaviour and have healthy connections with others. Some are predisposed to having more emotional intelligence than others. However, it is a set of skills that can be developed and improved upon to the benefit of your career growth as well as your job effectiveness.
1. Improve Communication and Collaboration
Empathy and understanding the points of view of others are important factors to emotional intelligence. Actively seeing things from another’s perspective doesn’t necessarily mean you will agree with them, but it does aid in identifying their assumptions, objectives, and needs. Considering diversity – whether in opinion, personality, expertise, or background – can help you to meet the other person halfway.
A risk manager often has to communicate or collaborate with a variety of people and departments, from the Board and senior management, to those on the ground. Each will have their own sets of responsibilities, and identifying what those interests are helps in adjusting how you communicate your ideas, whether you’re in a group meeting or trying to get a decision signed off. On the flip side, take heed that you don’t use your emotional intelligence to manipulate or exploit.
Managing an ever-changing set of risks requires a constant consolidation of information from a variety of sources. By being more cognizant of different perspectives, you can also be a few steps ahead of the game through being able to look at certain issues from every angle.