Whether you’re considering a risk, crisis and resilience management career or are simply curious as to the workings of this role within organisations, this blog post explains everything you need to know about the topic. 

What is Risk Management? 

Risk management is a vital discipline in business and organisational dynamics. The definition of risk management within business is the process of assessing the risk of crisis situations occurring; including finding, analysing and controlling threats to your organisation in order to ensure short- and long-term strategies for resilience. 
 
The overarching objective of risk management lies in fortifying decision-making, safeguarding any assets and enhancing an organisation's resilience against unpredictable factors. For a prospective student eager to explore this fascinating domain, delving into risk management promises an intellectually stimulating and rewarding journey at the intersection of business and strategic foresight. 
 
If you haven’t come across certain terms or concepts used in relation to risk, crisis and resilience management before, or you are interested to discover more about the different types of risks, don’t worry; our glossary defines some of the key terminology you’ll need to succeed in this field. 

The role and importance of a Risk Management professional 

A risk, crisis and resilience management professional is, in essence, the organisation’s problem solver. They require a combination of skills including strategic thinking, strong communication, adaptability and flexibility to achieve their organisation’s goals.  
 
A successful risk, crisis and resilience management professional will identify, mitigate and respond appropriately to risk and crisis, in order to make their organisation more resilient for now and the future. Conducting regular risk assessments, but also being prepared to address unpredicted risks and crises is crucial to this role’s success.  
 
This role is vital within business for many reasons, including: 

• Identifying and mitigating risks. 

• Protecting assets and resources. 

• Enhancing decision-making. 

• Promoting business continuity. 

• Ensuring compliance and regulatory adherence. 

• Building organisational resilience. 

• Building stakeholder trust. 

• Reducing costs. 

Skills required as a Risk, Crisis and Resilience Management professional  

Crisis management skills for handling unexpected events

Crisis management skills are essential for effectively handling unexpected events as they require quick thinking, decision-making and the ability to maintain composure under pressure. A successful risk, crisis and resilience manager is able to navigate through uncertainties and mitigate the impact of crises on their organisations. 

Resilience skills for managing and recovering from disruptions 

Similar to crisis management, unexpected events must be dealt with nimbly and efficiently, in order to mitigate damages. Resilience skills are vital for managing and recovering from disruptions on any scale, empowering organisations to adapt, thrive and emerge stronger. 

Adaptability and flexibility for navigating uncertainty 

The very nature of risk, crisis and resilience management is that you always have to be ready to deal with the unexpected. Being adaptable and flexible is essential for navigating uncertain, unplanned and tricky situations effectively.

Communication and stakeholder management skills 

Exceptional communication skills are essential for a successful risk, crisis and resilience professional role. These skills are used to convey critical information clearly, maintain transparency and encourage effective collaboration during challenging and uncertain situations, to achieve the ultimate goal of ensuring the organisation is resilient to the external factor/factors. 

How an MSc can help you succeed as a risk management professional 

Aside from having a head for business and a keen eye for detail, a successful Risk Manager will have developed the skills listed above through crisis management training, resilience management and reputational risk and crisis management training. 
 
If a Risk Management career sounds like something you’d like to explore, gain the skills and knowledge you need to effectively manage risk and crisis in an organisation.  
 
Discover the benefits of choosing to study MSc Risk, Crisis and Resilience Management on our course page: