In this blog, Jennifer Hancock, Senior Vice President of Professional Development & Education at Shared Assessments, recalls pivotal moments that have shaped her approach to risk management and invites early-career risk professionals to join the new Shared Assessments Foundations Committee, a community designed to foster learning, connection, and growth in the industry. (Note: the “My” and “I” refer directly to Jennifer’s first-person storytelling).

Everyone will encounter risk at some point, it’s an inevitable part of life. For those of us who work in risk management, each brush with adversity we experience doubles as a career lesson—and I’ve had my share over the years. Several pivotal moments in my life shaped my view on risk and led to the career I have today.

Early Experiences In Risk

I grew up in Oregon’s beautiful Willamette Valley, and much of my childhood was as idyllic as that sounds. But there are two major events that stand out in my childhood memory.

An Early Brush With Climate Risk

On Sunday May 18, 1980, Mount St Helens erupted. I was 7, so one of my main takeaways was that school was cancelled. But I also picked up on some of the more serious consequences by watching my parents’ response. My mom was worried about getting the groceries we would need to make it until stores opened back up. Longer term, agricultural areas downwind of the volcano faced crop losses impacting several produce markets.

My First Lesson In ESG (Environmental, Social, and Governance)

A few years later, a major environmental controversy unfolded in my area: the battle between conservationists concerned about the Spotted Owl and the logging industry. The owl was ultimately identified as a threatened species, leading to layoffs and economic hardships in our community, which extended to my family. The experience gave me an early glimpse into the complex balance between economic interests and environmental protection—an issue that’s still fresh today, though now we discuss it in terms of ESG impact.

Notable Events In A Risk Management Career

From my first years working up to the present day, I’ve seen several big events and trends that further highlighted the importance of risk management. Some memorable examples include:

Y2K

In 1999, in one of my first jobs at a global credit card company, I was recruited for a secret, special project. Only after signing a NDA (non-disclosure agreement), they revealed I’d be working on the company’s Y2K project. For those young enough to miss the Y2K panic, the goal was to update all technological systems to ensure they would work seamlessly even when the year switched to 2000 (which would be read as 00 by some systems). My involvement in that project impacted how I think about emerging tech risks.

9/11

We weathered Y2K only to encounter a more unexpected disaster in 2001 with 9/11. In the immediate aftermath, our call volumes soared as concierge teams faced emotionally charged conversations with customers seeking help with issues related to the attacks, like disrupted travel arrangements. In the following months, the event led to further disruptions as we saw critical staff leave their jobs due to fears of ethnic and religious discrimination, causing gaps in the company’s operational and IT capabilities.

Recent Trends In Risk Management

In over 20 years working in the credit card industry, I saw a number of industry trends bring new complexity and considerations to risk management work, such as:

• Growing number of vendors – As outsourcing grew in popularity in the late 1990’s and 2000’s, the need to understand and develop strategies for third-party risk management became more essential.
• Increasing regulatory requirements – At the same time, the industry faced an increase in regulations that we had to develop policies and processes to address.
• Pandemics – Years before COVID-19, the H1N1 virus had teams rethinking the requirements for pandemic plans.
• Climate – As natural disasters become more common, disaster recovery and business continuity planning has become increasingly essential.

Old Risks Help Prepare For New

A theme you may have noticed reading through my past experiences is how many relate to current issues. Mount St. Helen’s was an early glimpse of the kind of climate disasters that are more common now. H1N1 was a precursor to COVID-19, and the staff shortages wrought by COVID reminded me of losing critical staff after 9/11 due to the political climate. While all of these experiences brought challenges, each also provided nuggets of wisdom that proved valuable during later experiences.

What’s Next? 

Now, it’s your turn. Consider what events you’ve lived through that taught you something about assessing and prioritizing risk. How have your experiences helped prepare you for a risk management career?

For early-career risk professionals, learning from others’ experiences is invaluable—but you don’t have to do it alone. That’s why Shared Assessments is launching the Foundations Committee, a new opportunity designed to help risk professionals build connections, gain foundational education, and stay on top of current risk management trends. This committee will provide a space to discuss challenges, share insights, and develop the skills needed to tackle emerging risks with confidence.

If you’re looking to strengthen your risk management foundation and grow within a community of like-minded professionals, I invite you to join us. Let’s navigate the future of risk together.