Interview No. 6 with Dominic Rau, member of the Swiss Risk Award Judging Panel. Dominic is Board Member and senior manager in banking and insurance and works at Swiss Re. He became a member of the SRA a long time ago, has contributed as a speaker and contributes to the selection process of the Swiss Risk Award.

โ“๐–๐ก๐ฒ ๐ข๐ฌ ๐ซ๐ข๐ฌ๐ค ๐ฆ๐š๐ง๐š๐ ๐ž๐ฆ๐ž๐ง๐ญ ๐ข๐ฆ๐ฉ๐จ๐ซ๐ญ๐š๐ง๐ญ โ€“ ๐ข๐ง ๐›๐ฎ๐ฌ๐ข๐ง๐ž๐ฌ๐ฌ ๐š๐ง๐ ๐ข๐ง ๐๐š๐ข๐ฅ๐ฒ ๐ฅ๐ข๐Ÿ๐ž?
Risk management supports individuals to engage in risks that would otherwise be beyond their capacity. Risk management in firms ensures transparency and a common risk appetite with its owners. It ensures that potential losses are limited and incur only in areas that are within the previously agreed risk appetite. Risk management thinking, consequentially applied throughout society, will not only boost our ability to innovate and advance.

โ“๐ˆ๐ง ๐›๐ฎ๐ฌ๐ข๐ง๐ž๐ฌ๐ฌ โ€“ ๐–๐ก๐š๐ญ ๐ก๐š๐ฏ๐ž ๐ฒ๐จ๐ฎ ๐ฅ๐ž๐š๐ซ๐ง๐ญ ๐จ๐ง ๐ซ๐ข๐ฌ๐ค ๐ฆ๐š๐ง๐š๐ ๐ž๐ฆ๐ž๐ง๐ญ ๐ญ๐ก๐š๐ญ ๐ฌ๐ก๐จ๐ฎ๐ฅ๐ ๐›๐ž ๐ฌ๐ก๐š๐ซ๐ž๐?
Here are a few thoughts that help me to stay focused:

  • Decisions are always taken by people. They must be empowered but also held accountable for the consequences of their decisions.
  • Resilience and contingency must be built in good times.
  • A good tool to keep focus is ranking risks by quantifying them.
  • Always identify and name the key parameters of your business and test the solidity of your case.



โ“ ๐ˆ๐ง ๐ฉ๐ซ๐ข๐ฏ๐š๐ญ๐ž – ๐–๐ก๐š๐ญ ๐ข๐ฌ ๐ญ๐ก๐ž ๐›๐ข๐ ๐ ๐ž๐ฌ๐ญ ๐ฉ๐ž๐ซ๐ฌ๐จ๐ง๐š๐ฅ ๐ซ๐ข๐ฌ๐ค ๐ฒ๐จ๐ฎ’๐ฏ๐ž ๐ž๐ฏ๐ž๐ซ ๐ญ๐š๐ค๐ž๐ง?
The biggest personal risk I took was to start a family. I traded freedom and discretion in my life and my career for a huge and prolonged commitment, of which I only knew from hearsay how magic its outcome apparently can be. The decision was based largely on gut feeling, which is very common for our biggest and often our best investments. 

โ“๐–๐ก๐š๐ญ ๐š๐๐ฏ๐ข๐œ๐ž ๐ฐ๐จ๐ฎ๐ฅ๐ ๐ฒ๐จ๐ฎ ๐ ๐ข๐ฏ๐ž ๐ฒ๐จ๐ฎ๐ง๐  ๐ฉ๐ซ๐จ๐Ÿ๐ž๐ฌ๐ฌ๐ข๐จ๐ง๐š๐ฅ๐ฌ ๐ข๐ง ๐ซ๐ž๐ ๐š๐ซ๐๐ฌ ๐ญ๐จ ๐ซ๐ข๐ฌ๐ค?
Classical job profiles are blurring and AI will change the way we look at expertise. Flexibility becomes more important.

I would advise any young professional to โ€œgo full inโ€ with dedication, take decisions and own them. Establish strong networks with other professionals, follow your curiosity โ€“ for example at the Swiss Risk Association โ€“and develop a career resilience in the good times on which you can rely once you may need it.

โ“๐’๐ฐ๐ข๐ฌ๐ฌ ๐‘๐ข๐ฌ๐ค ๐€๐ฌ๐ฌ๐จ๐œ๐ข๐š๐ญ๐ข๐จ๐ง โ€“ ๐ฐ๐ก๐ฒ ๐š๐ซ๐ž ๐ฒ๐จ๐ฎ ๐ฉ๐š๐ซ๐ญ ๐จ๐Ÿ ๐ญ๐ก๐ž ๐ง๐ž๐ญ๐ฐ๐จ๐ซ๐ค ๐š๐ง๐ ๐ฐ๐ก๐š๐ญ ๐ข๐ฌ ๐ฒ๐จ๐ฎ๐ซ ๐ฉ๐ž๐ซ๐ฌ๐จ๐ง๐š๐ฅ ๐ฏ๐š๐ฅ๐ฎ๐ž?
I became member a long time ago out of passion for risk management. I was excited by the breadth of topics and attracted by the interesting colleagues,. Over time I could establish relationships and I benefit today of a network of good colleagues, that I can call, when I need a sparring partner or advice. The SRA also helps me to stay on top of recent developments

I also find it rewarding to contribute as a speaker or in the jury of the Swiss Risk Award.