I reckon most of us have probably heard of the Myers-Briggs Indicator Type test. Well if you haven’t, you can check your ‘personality’ at https://www.16personalities.com/free-personality-test. According to this test, I am an ENFJ-T. However, I won’t elaborate too much about this – there’s something else interesting about your personality.
Do you know that every individual also has a risk personality? Psychological Consultancy Ltd created an assessment to evaluate one’s risk personality. These personalities are shown in the Risk Type Compass® below.
Unfortunately, we would be unable to take the assessment as these are mainly created for businesses. This assessment has particular relevance to the banking and finance, insurance, energy, manufacturing and consulting sectors. Why do I have to say all these? Because as maths students, many of us are attracted to those industries.
Especially in the sectors mentioned above, an effective management of risk within the industry is vital to its growth. A study done by researchers over a 19-year period on over 1000 senior bankers from more than 150 were carried out. The study measures the riskiness of strategies of these bankers. It found that personalities were the integral factor in risk-taking.
Most organisational failures are typically caused by taking too much risk or taking insufficient risk, e.g. a group of predominantly risk-takers tend to amplify risk-taking, and a group with a great number of risk-averse members are less likely to take them. Hence, we need a more diverse range of personalities to balance this out to achieve an effective risk management! Of course, there are other factors that would make this work, such as establishing working relationships and concise communication with your colleagues in the firm. Other than winter, a number of us are in the season of applying for internships. Perhaps, if you are confident of your risk type or personality, could this probably be a point to mention to employers? (ehem, maybe.)
It is good for us to know ourselves deeper. Not just our risk personalities, but who we really are. More fully understanding yourself is a catalyst to personal growth – in studies, applying for jobs, decision-making and many more. Most significantly, always be genuine to yourself – no one is better than you at being you!