Q&A With Ian Ascher, Risk Management Consultant
Ian Ascher has been working in risk management for several companies over many years. Here, he shares insight into his experiences both professionally and personally.
Tell us a bit about what you do.
The Managing Director of Global Risk Management is responsible for defining and building the organizations risk tolerance. From there we make decisions on how to efficiently retain to transfer operational risks. We buy insurance for certain risk, but we “self-insure” risk for selected exposures. The frequency and severity, along with our experience aids in how we formulate these decisions. Broader industry trends and emerging risks also play a role in how we think about utilizing available insurance products to protect the bottom line. The main intent is to preserve earnings, and protect the firms balance sheet from material loss impacts that would otherwise distress company results. I have a large team that helps me manage this process by risk type and geography.
What gave you the idea for what you do? How did it start?
My ideas were born out of course work while doing my MS, but working within a business allowed me to put theory into practice. There is a big difference between purchasing insurance and actively managing a Risk Management program set to increase value and create opportunities for your firm. I started with attempting to gain as deep of an understanding of possible of the business and the underlying exposures. From there you can develop plans and propose ideas around sustaining firm value.
What’s your favorite thing about your chosen profession?
There are new challenges every day, and we ultimately support the business to meet their goals. We work to provide solutions that allow the business to operate and grow, but have programs running in the background to step in when things don’t go according to plan – we help solve.
What keys to being productive can you share with us?
Prioritize, prioritize, prioritize. Don’t fit a square peg in a round hole, and don’t sacrifice quality for the sake of deadlines. Communicate and advocate for what you need to provide optimized solutions. Don’t be afraid to take a break, clear the head and seek advice.
Tell us one long-term goal in your career.
The Risk Management function has room to grow. There is a real need for Chief Risk Officer roles in companies today, and I aspire to be one.
What’s the most valuable lesson you’ve learned through the course of your career?
Become comfortable, being uncomfortable. Everything will not be perfect, but we should justify the decisions we are making with the benefit of the firm as top of mind.
What advice would you give to others aspiring to succeed in your field?
Network as much as you can. Don’t think a role is beneath you, and don’t be scared of taking a role for less pay because it is perceived as a downgrade. Having taken some of those myself, I learned more than I would have in any other role and progressed much further and faster than I would have under any other circumstance.
What are your favorite things to do outside of work?
Music brings me a lot of peace, as does bike riding. Most importantly, I spend as much time with my 3 year old son as much as possible. Viewing the world through his eyes is an amazing experience.
Name a few influential books you’ve read and/or websites you keep up with that you’d recommend to readers.
Built to Last, Good To Great, The Black Swan, 7 Habits of highly effective people
What advice would you give your younger self?
Stress less, work hard, find passions outside of work and prioritize your family.
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