By Frances Choi Kit Man
for the 2024 Risky Women Writing Competition, presented in partnership with Bovill Newgate
Discover the challenges faced by women in risk management as they balance demanding careers with family responsibilities. This article highlights the unique pressures of compliance reporting, navigating stereotypes, and maintaining work-life balance. Learn how Risky Women develop exceptional skills to overcome obstacles in a male-dominated field while striving for personal and professional success.
“Mom! I can’t find my homework!” screamed a voice from the living room.
“Where’s my dinosaur T-shirt?” someone moaned, one hand clutching a Lego car.
“Can I go hiking on Sunday?” whispered another, trying to cut through the noise. “I’ll take care of the kids tomorrow, I promise.”
I glanced at the clock, noting the time. The evening was slipping away, and the to-do list seemed never-ending, not to mention a New York conference call scheduled for eleven tonight.
The job in risk management was relentless. As a Risky Woman, the responsibilities were vast and the pressure immense. The never-ending cycle of reporting was one of the primary challenges. Regulatory bodies require constant and detailed reports to ensure compliance with various laws and regulations aligning with the institution’s risk profile. In addition to regulatory reports, there were regular updates needed for internal stakeholders and senior management on key risk metrics and assessments. The volume and frequency of these reports could be overwhelming, demanding meticulous attention to detail and exceptional risk management skills.
It is incredibly demanding due to the constant need to handle both routine business matters and numerous reviews and audits. These audits require precise preparation, coordination, and follow-up. Regulatory inspections add another layer of stress with detailed compliance checks, where any discrepancies can lead to significant penalties. The role comes with high stakes and accountability. Compliance with regulatory standards is crucial to a Risk Officer (not limited to women) not only to avoid fines but also to protect the organization’s and personal reputation and financial stability.
Risky Officers must effectively communicate with the business line and Operations, ensuring that any issues are reported promptly to management. Late reports or escalations can have serious consequences, as there are high expectations from management to maintain compliance and uphold the organization’s integrity. Balancing these responsibilities requires exceptional time management and strategic planning skills.
In addition to these professional duties, Risky Women must have “Super Power” to navigate the complex landscape of stereotypes. A married woman with children faces the stereotype that she might be too distracted by her domestic roles to effectively lead her team. On the other hand, an unmarried Risky Woman might encounter doubts about her emotional stability, subtly undermining her professional standing and contributions. The menstruation myth affects any woman where her decision-making skills might be unfairly scrutinized during her true or suspected menstrual cycle. People question her rationality and consistency.
Balancing these professional responsibilities with personal life, especially family commitments, added another layer of difficulty. The demanding work hours and high pressure made it challenging to maintain a healthy work-life balance. Risky Women often managed long hours and the stress of high-stakes decision-making while also fulfilling family responsibilities. This dual pressure could lead to burnout and required exceptional time management, support systems, and resilience.
The chaos of the day, from the morning rush to the evening pandemonium, mirrored the complexity and pressure of the role. Despite the challenges, there was a sense of accomplishment in passing through the world of risk management, which remains predominantly male-dominated. It presents a challenging landscape for Risky Women who aspire to carve out their careers in this field. For women, breaking into and rising within this arena is not just about showcasing their capabilities but also about challenging and transforming the status quo. The journey through such an environment is fraught with obstacles, but it is also ripe with opportunities for significant change and progress.
As a female, there is often a unique and deeply ingrained role within the family. Parents tend to rely more on their daughters, expecting them to provide emotional support and assistance. Similarly, children often turn to their mothers for comfort, guidance, and help with daily needs. This dynamic can create a significant emotional and practical burden on women, especially when they are also juggling demanding careers.
In many households, certain tasks are automatically expected to be handled by women, regardless of their professional commitments. This expectation is rooted in traditional gender roles, which often assign domestic responsibilities such as cooking, cleaning, and childcare to women. Even in modern, more egalitarian households, these assumptions can persist subtly, influencing the distribution of tasks and responsibilities.
Balancing these traditional expectations with the demands of a career, especially one as rigorous as a Risky Woman needs to stay on top of market conditions, economic trends, and regulatory changes requires constant vigilance and adaptability. At the same time, the family looks to the mother for stability and support, creating a dual pressure that can be overwhelming.
This unique role often means that women have to develop exceptional time management, multitasking skills and extreme patients. They must be adept at switching between professional and personal responsibilities seamlessly, ensuring that neither is neglected. It also requires a strong support network, both at home and at work, to help manage the multitude of tasks and expectations.
In many cases, it involves setting clear boundaries and having open communication with partners and family members about the distribution of responsibilities. Encouraging a more balanced approach to household tasks can alleviate some of the pressure and promote a healthier work-life balance. However, changing deeply ingrained expectations is not easy and requires continuous effort and negotiation.
Ultimately, while the role of women in the family is special and often rewarding, it comes with its own set of challenges. The expectations placed on women to manage both home and work responsibilities can lead to significant stress and fatigue. Recognizing and addressing these dynamics is crucial in fostering a more supportive and equitable environment for women to thrive both personally and professionally.