The Institute of Risk Management (IRM) asks its members what working in risk is really like and what hints and tips they'd share with people looking to move into the industry.

The Institute of Risk Management (IRM) asks its members what working in risk is really like and what hints and tips they'd share with people looking to move into the industry.

Phil Parratt

Risk Manager

Kier Group

How did you get your job?

I started my career in the civil service (DHSS as was), moving to their outsourcing contract management team.  I then made the ‘brave’ move of resigning from the Civil Service and joining the contractor.  Having worked on the existing contract I got involved in wider business development, leaving the contract and working out of Head Office for a couple of years.

After helping with the mobilisation on a major contract I understudied the group Risk Management Director, taking the knowledge and skills back to my part of the business.  I divided my efforts between getting good risk management practice in place during the bidding and set up of new contracts as well as improving risk management at existing contract and business unit levels.  My role developed and I ended my time with that employer as Head of Risk Management for one of their UK divisions.

I then spent five years working on a consultancy basis practicing risk and resilience management.  This took me to places and sectors that I had not experienced before including some time in the Middle East – several months in the UAE (based in Dubai), two weeks in Bahrain and a memorable three days in Iraq at the time the American forces were withdrawing.

I then took a role with a maritime defence contractor which increased my knowledge and experience of the defence sector as well as complex engineering programmes, with multiple stakeholders, in a secure environment.

In 2015 I was alerted to my current role by an ex-colleague.  Recently I have moved from a Business Unit role to supporting major bids and alliances in infrastructure.  Collaborative working in accordance with BS11000 is becoming an increasingly hot topic, usefully supporting effective risk and opportunity management and I have just been invited to join our Group Collaborative Working Forum.

What’s a typical day like as a Risk Manager?

I don’t think there is any such thing as a typical day, they are so varied.  Although there are a number of regular items in the diary, there are always the phone calls which start with “Are you busy at the moment? We have just received…….”

I facilitate risk workshops, participate in reviews, write reports, train staff and take part in a variety of meetings for bids and internal governance to name but a few tasks.

What do you enjoy most about your job?

Working with a wide variety of people, across different disciplines, and at all levels of seniority and experience.  People skills are a vital part of being an effective risk professional and you need to be able to tailor your approach accordingly.

What are the challenges?

Convincing some individuals that risk management is a management tool which helps drive the business, not just something that they do periodically just to satisfy internal governance.  Once you have won them over however, they become the biggest advocates for risk management.  Jargon – the sheer volume of acronyms and abbreviations that subject matter experts use especially when the same acronym means different things to different people depending on their discipline.  A common challenge is people’s perception that as a Risk Manager, you are there to manage their risks for them – always an interesting discussion……

In what way are your IRM qualifications relevant?

Having worked in risk management for a number of years, I decided that I really needed to get a formal qualification in my discipline, taking the Certificate exams in November 2014.  Thankfully I passed although doing written exams for the first time in 30 years came as a bit of a shock to the system!

In business you are surrounded by professional people with qualifications in their specialisms and having a formal qualification in risk management reinforces that it is a vital component of successful business.  Allied to experience it makes for a powerful combination when introducing or enhancing processes and changing behaviour.

What would you say to others thinking about joining IRM as a member?

Do it as soon as possible!  You will find a wealth of knowledge and support for your chosen career.  Members are always willing to share experience in the name of improving the way in which risk is managed and the profile of the profession.

How has your role developed and what are your career ambitions? Has being linked to the IRM helped?

Having started out not knowing much about risk management, it has become a subject I am passionate about.  My role has evolved either through my seeking engagement in areas where I perceived that I needed to expand my knowledge and through others wanting to make use of my skills and experience.  As regards career ambitions, I have never been particularly bothered about job titles, preferring to seek out areas that interest me and see where the application of my skill set takes me.  Being an IRM member certainly adds some gravitas when I am applying risk management at all levels.

 Top tips

  • Be open-minded – use your two ears and one mouth in proportion as you never stop learning
  • Work on your people skills – it really opens doors and gets buy-in
  • Maintain your sense of humour in challenging times – risk management has been perceived as a ‘dry’ subject so show it isn’t!
  • Gain as wide an experience of business sectors as possible – you will be surprised at the number of commonalities and what can be applied elsewhere
  • Enjoy yourself – embrace personal opportunities even if they are outside your ‘comfort zone’ (see earlier reference to Iraq!)
  • Use professional networking – you never know where it will lead (also Iraq)
  • Make use of the support and resources of the IRM – use CPD to maintain and enhance the relevance of your skills and participate in Regional and/or Special Interest Groups

Find out more about the Institute of Risk Management and our Training, Membership and Qualifications.