Insurance Business ReviewAUGUST 20258IN MY OPINIONGone are the days when most people simply "fell into" insurance and risk management. When I speak to students, they inevitably ask how I started my career, and I have to admit, like many others 25 years ago, I fell into it myself, coming from a science background with a bit of business mixed in. All of my initial industry knowledge came through on-the-job training and time. My answer usually earns an eye roll and a questioning look, as if they wonder whether they chose the right degree. I quickly follow up with this reassurance: they have made a great choice, and here is why. The risk landscape is evolving faster than ever. Organizations require well-educated, forward-thinking professionals who can help them navigate risk in this dynamic environment to survive.Risk has always been a dynamic and changing concept. However, from the earliest times of categorizing, mitigating, and transferring risk to others, risk management has been relatively reactive and based on historical norms. For example, traditional property and liability risk models developed slowly based on an accumulation of years of experience and many incidents. Though valid and appreciative, those risks are now joined by rapidly evolving and complex siblings. The pace of technological change, globalization, political upheavals and severe weather events, to name a few, have introduced new, more complicated and Roy Hock, ARM, MBA, is a seasoned risk management professional with over 20 years of expertise in insurance, enterprise risk management, business continuity, loss control, and financing strategies. As Director of Risk Finance & Casualty Insurance at Valero Energy Corporation, he leads a team overseeing captive management, liability programs, and risk management data systems. His experience spans multiple industries, including energy and marine, reinsurance, financial services, health and fitness, private equity, and captive management. Through this article, Hock highlights the evolving risk landscape and the increasing importance of formal education, critical thinking and industry-academic collaboration in preparing future risk management professionals.THE KEYS TO BUILDING A RESILIENT RISK MANAGEMENT FUTUREBy Roy Hock, Director of Risk Finance and Casualty Insurance, ValeroRoy Hock
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