What is the back ground of most senior level executives in the business field? (Specifically business continuity and risk management)
I am a 17 year old black woman who is a senior in high school aspiring to be a Business Continuity Planner. #business #business-management #management #finance #entrepreneur
5 answers
JoLynda’s Answer
Of my previous bosses who held this position, one had both an MBA and a law degree, one held an MBA, and the senior executive had many years of experience in our specific industry/field of tourism and museum management and was incredibly good at lobbying the Virginia State Assembly for funds to ensure our museums were financially supported and well advertised in tourism campaigns (though to my knowledge I don't think he held a Master's degree). Two of my "senior level execs." had been a county manager and an asst. county manager for local government. Most CFO's I've worked with had either focused on the legal/risk management side of the business or on the accounting side of organizational management. One exec. had been a history teacher before getting his MBA/CPA. Another exec. had just been working in politics so long she understood the idiosyncrasies and personalities enough to hold strong until she rose up through the ranks until retirement.
I was an office assistant and showed my financial acumen enough to roll past experience as a volunteer coordinator and customer service manager to become the Operations and Volunteer Director at the last place I worked. I managed three offices, over 30 staff members, and oversaw a budget that exceeded $500k. Prior to that I had managed 81 budgets and over $1 million in annual spending. I have a Six Sigma Green Belt and was once a government consultant and also received a procurement specialist certification. My direct supervisor had been a creative director, chief exec. officer and general manager at various museums in Britain. He did not have a Master's, but held a certification or two I believe. All this to say, everyone's journey is different. Do what you enjoy, don't focus on the money unless you absolutely have to, and you'll find yourself working toward what you never knew you wanted to become.
Kevin’s Answer
- Research: regulations, historical performance, contract terms
- Math to define the impact of a risk to the business
- Organization skills to create and sequence the work steps to identify risks and resolve them
- Communication skills to inform different groups in a business on the risks and get agreement on which to prioritize
Backgrounds in accounting, math, psychology can all work depending on the type of industry.
Mary’s Answer
Laniya,
Most will have an MBA or their Bachelor's with many years of experience and additional training needed to become that C Suite executive. I'd suggest looking at the job postings on sites like Indeed, glass door, zip recruiter etc. To find out what range of educational requirements there are. Pay close attention to certifications that are listed as well. Use several different search terms, as job title can be different for same role depending on industry and company.
A search on Indeed for Continuity Planner provides a variety of listings. Try and determine what an entry level role is called so you know what the start of your career would require vs. what a senior role would require.
Risk management depends on the industry your in. In my industry, construction and engineering, risk is managed within the Project Controls realm. There are two organizations you might look up for information regarding Risk. https://web.aacei.org/ and
http://www.planningplanet.com/forums/guild-project-controls-gpc
Mary recommends the following next steps:
Andrew’s Answer
A lot of them have MBA's but when I'm talking to people in corporate they really emphasize making sure that you have your accounting classes taken care of as well. A lot of companies expect some familiarity with GAAP and other accounting tasks before considering you for promotion.
Evan’s Answer
Try to look for opportunities that let you speak in front of large groups or people more senior than you. Putting yourself into those sometimes uncomfortable scenarios gives you a chance to grow those speaking skills. Developing that half of the equation early on can make growing in risk roles much easier.
From a technical side, many BCM and Risk professionals in my industry come from COO types of roles. It's important to understand the mechanics of the industry you're in so you can speak knowledgably about what can effect it, and how to mitigate those kinds of risks.