Marcia Cantor-Grable, director of emerging risk and regulatory developments, Prudential
Cantor-Grable has a group-wide risk management role, focusing on identification and in particular emerging financial and non-financial risks. She is the current chair of the CRO Forum's emerging risk initiative working group and sits on the audit and compliance committee at M&G Investments.
What will be the next big development in risk management?
A new perspective and approach to defining and identifying the "new normal" in a world of constant, disruptive, interconnected changing risks. There is a real challenge on the applicability of historic modelling assumptions and approaches concerning mean reversions over the long term – do we know what this means anymore?
Who or what has inspired your work?
More of a what - risk management is a discipline where lateral thinking challenges conventional wisdom.
Who do you most admire in the field of risk management?
It is not a person, it is the attributes. People with the ability to see beyond the obvious, able to combine strategic and analytical thinking, understanding of business models and the way external events affect that model. Strong communicators able to deal with multiple stakeholders inside and outside the organisation and at different levels of seniority. People who are constant learners and curious, who embrace change, take teams along with them. They are personally comfortable challenging their approaches to risk management whether that's skill sets, fit-for purpose processes or organisational designs.
Regardless of all these elements, attitude, courage in the face of stressful and trying situations and honouring personal values separate those who can look at themselves in the mirror and know they did the right thing and those who can't. And, yes, I have and do work with people with these attributes.
What advice would you give to someone wanting to emulate your success?
Within a risk management context, to see opportunities out of ambiguity, to acknowledge the strengths and weaknesses, and don't waste time on the blame game when stuff happens because you'll only diminish yourself by behaving badly. Have confidence in your decisions and be prepared to defend, but at the same time don't be dogmatic.
What have you learnt about communicating risk?
Translate the technical to business impact, keep it simple and tell the people and forums who should know "as soon as". Tailor the message to the audience. Don't use jargon to obfuscate or conceal a lack of understanding. Don't overdo the statistics.
What are your other interests?
Hiking, Pilates, travel.
