What are the most in-demand skills for risk management professionals in Facility Management (FM)?
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Risk management is a vital function in Facility Management (FM), as it involves identifying, assessing, and mitigating potential hazards and losses that may affect the people, assets, and operations of a facility. Risk management professionals in FM need to have a diverse set of skills to deal with various types of risks, such as environmental, health and safety, security, financial, legal, and reputational. In this article, we will explore some of the most in-demand skills for risk management professionals in FM and how they can help you advance your career in this field.
One of the core skills for risk management professionals in FM is the ability to collect, process, and interpret data from various sources, such as audits, inspections, reports, surveys, and sensors. Analytical skills enable you to identify the root causes of problems, evaluate the likelihood and impact of risks, and prioritize the most critical issues. You also need to be able to use tools and techniques, such as risk matrices, risk registers, risk maps, and risk dashboards, to communicate and visualize your findings and recommendations.
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Manish Odeka
Chief Risk Officer at Hiranandani Financial Services
Presence of Mind with common sense approach Understanding of Business model and Processes Knowledge of Governance and Regulatory Compliance
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Luciano Cedrone, CPP CPTED
Certified Protection Professional (CPP) | Strategic Growth Driver & Creative Problem-Solver | Content Creator
Facility Management (FM) relies on risk management to enhance safety and operational efficiency in a quickly evolving and dynamic environment. Managers need to have a wholesome perspective that considers not only local but also global risks to the business. Skills such as regulatory expertise, emergency response, data analysis, cybersecurity, supply chain management, communications and project management can help mitigate those risks and protect the business. Ongoing education is also essential in FM's ever-evolving landscape.
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Zeeshan Ahmad
Management Auditor | Fraud Investigation, Detection, Prevention | Digital Fraud | Consumer Fraud
Risk Assessment and Analysis Compliance and Regulations Data Analytics Technology Skills Emergency Response Planning Effective communication skills Project Management Knowledge of sustainable practice Strong leadership and problem-solving skills
Another essential skill for risk management professionals in FM is the ability to communicate effectively with different stakeholders, such as facility owners, managers, staff, contractors, clients, regulators, and insurers. Communication skills involve not only verbal and written communication, but also listening, negotiating, and influencing skills. You need to be able to explain complex and technical information in a clear and concise manner, tailor your message to your audience, and persuade others to adopt your risk management strategies and solutions.
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Hemanth Narayanan
Leadership in financial retailing for more than 18 years with top BFSI firms in India Successfully started and built portfolios across Affordable Industry
Using a sensible strategy with wider presence of mind. Knowledge of Business Processes and Models Professionals in facility management that handle risk must possess a wide range of abilities in order to minimize hazards and build settings that are efficient, safe, and compliant. Maintaining current with best practice's and industry developments is also essential for ongoing professional growth.
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Thomas Fletcher Seymour CFE, CCEP
Compliance Consultant at Seymour Resolutions LLC
Leadership needs truth. Any delays will increase the risk and cause it to continue forward! You don’t know what’s wrong if you are never told and you can’t hold anyone responsible! It’s the tone at the top!
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Sara Taki
Audit Manager, MSc, SCPA
Effective communication skills, both written and verbal, are vital for conveying risks, developing risk management strategies, and negotiating with stakeholders.
As a risk management professional in FM, you also need to have a solid knowledge of the relevant laws, regulations, standards, and best practices that apply to your facility and industry. Compliance skills involve understanding the legal and ethical obligations and expectations of your organization, as well as the potential consequences of non-compliance. You also need to be able to monitor and update your risk management policies and procedures to ensure they comply with the changing regulatory environment and industry trends.
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Jonathan Ruf
Cyber Risk Executive at Apple Bank
I live by the motto, security first Compliance we naturally follow. Make sure to use the proper Frameworks to ensure you are aligning with your compliance requirements.
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Tim Smith
Putting, and keeping, safety on our highways first!
As a leader, you have to know the regulations and policies first. You have to know the resources available to confirm and as a leader you have to know when you need to go look and validate. Once you know that you know the regulations or policies, you have to set the goal of “zero” and hold people accountable to that goal while coaching to improve, not copping to discipline. If you are “copping” and disciplining, then the event has already happened. Coach to prevent instead.
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Janaye E.
Product Compliance Professional, CIPP/C
Equally as important is communicating the “why” behind decisions and translating legalese into an easy-to-understand format when sharing compliance requirements.
Risk management professionals in FM face various challenges and uncertainties in their daily work, such as unexpected events, emergencies, incidents, and crises. Problem-solving skills enable you to respond quickly and effectively to these situations, by applying your knowledge, experience, and creativity. You need to be able to identify the problem, analyze the options, implement the solution, and evaluate the results. You also need to be able to learn from your mistakes and improve your risk management processes and practices.
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Ade Suhendar
Head of Credit Review Global Banking, Credit Risk Management
In my two cents, the top skill needed in risk management is definitely problem-solving. This is the skill that lets risk managers sort out complicated problems and come up with "do-able" strategies that keep the organization safe. To become a skilled problem-solver, you are required to be agile and adaptive. A problem-solver’s agility translates into creating solutions that are as dynamic as the risk landscape itself, ensuring that the organization is always prepared, not just reactive. This agility is more than just quick reactions; it's about setting up a solid solution that helps the organization stay resilient through ups and downs.
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Miguel Rau
MBA Candidate @ SDA Bocconi Class 2024 | Strategy | Transformation | Sustainability
Effective risk management involves a continuous process of improvement. In the course of day-to-day operations, unexpected events may arise that require prompt handling. However, professionals in risk management within the facilities management sector should adopt a Lean Six Sigma approach and employ deep problem-solving techniques to identify the underlying issues and resolve them.
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Mirza Ali Baig- FCCA
Audit, Compliance & Risk Specialist | Regulatory Compliance | Digital Banking | Fintech | EMI (e-Money) | Payments | Assurance
Facility management professionals need to be adept problem solvers. These skills enable professionals to identify, analyze, and effectively address a wide range of issues and challenges that can impact the safety, efficiency, and functionality of facilities. Effective problem-solving skills not only help risk management professionals address current issues but also contribute to long-term facility efficiency and safety. These skills are essential for maintaining a well-functioning facility and ensuring the organization's success.
Finally, risk management professionals in FM need to have leadership skills to manage and motivate their teams and stakeholders. Leadership skills involve setting clear goals and expectations, delegating tasks and responsibilities, providing feedback and recognition, and resolving conflicts and issues. You also need to be able to foster a culture of risk awareness and responsibility, by promoting risk management values, principles, and behaviors. You also need to be able to inspire and influence others to follow your vision and direction.
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Mirza Ali Baig- FCCA
Audit, Compliance & Risk Specialist | Regulatory Compliance | Digital Banking | Fintech | EMI (e-Money) | Payments | Assurance
Leadership skills are not only about guiding teams but also about setting the tone for the entire facility's culture. Strong leadership can positively influence risk management practices, safety measures, and the overall success of facility operations.
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Helio Cantillanes
Ingeniero en gestión de riesgos
El liderazgo en la gestión de riesgos no parte con la responsabilidad del gestor de riesgos sino más bien se inicia por los valores de la organización y que partir de gerentes y superintendentes bajan a toda la organización. Cuando entramos a un tema del proceso de gestión de riesgos el liderazgo claro que implica trabajar con personal clave que conozca los procesos, las responsabilidades deben estar definidas en cada estamento de la organización y el lenguaje debe ser común.
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Dilan Perera [MBM, BSc, CSBA, CAMS]
Audit | Compliance | Risk | Governance | Internal Controls
All the points highlighted are important and paramount in the subject. I would recommend to have little bit of common sense and taste of business perspective when running your show as Risk Management professional. It'll increase your value and ease your tasks as well.
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Camille Doe
Manager, Internal Audit, CIB and Subsidiaries Audit °°Global Markets°° Financial Analyst °°Data Analytics Expert
Being Critical and Intentional in Facility Management and its associated risks is very essential to safeguard and Protect lives and Assets at the barest minimal cost. (Reputation, Legal, Financial costs etc)
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Janette M, Cruz (ASQ-CQA, ASQ-CQIA, BBA, AAS)
Regulatory.Compliance & Quality System Manager -Global
Agree with all. Thanks for this article. I would add the Recognition aspect to appreciate the value of people with these skills. How they model those skills and what they have done it is works share it as a best practice and standardized in policies, procedures where appropriate for future generations and to motivate others. Also clear responsibilities and accountability for risk management is Key.