by Rick Nason, PhD, CFA
Partner, RSD Solutions Inc
Teaching in an MBA program I have lots of students asking for advice on how to get a job. With them I always start with the “snap the fingers test”. The “snap the fingers test” works like this: Assume that I had magical powers and that upon a snap of my fingers that you would be able to switch places with anyone in the world. Who would that be?
Students generally give a knee-jerk reaction such as Bill Gates, Warren Buffet, Mick Jagger, etc. Upon a little bit more self reflection (as I look at them with a “get real” look on my face), they actually come up with a reasonable answer or more likely they cannot think of anyone (it has to be a specific person – a role such as fireman will not work with me).
Now how does this relate to risk management? Simple. Assume that I had magical powers and upon a snap of my fingers, your risk function could switch places with any other company’s risk department. Who would you choose? Are you capable of giving a non-frivolous answer? Can you name a specific company or risk department that you would like to be like?
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