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Risk Central
Digital EditionFrom Lifeguard to Chief Risk Officer: RIMS 2025 President Kristen Peed Shares Her Journey in Risk Management
R&I: What was your first job?
My first job was actually at a pool club in Raleigh, North Carolina. I was only 14 at the time and my job was to clean the pool area and make sure the guests enjoyed their experience. But, upon turning 15 that first summer, I was then allowed to do what I originally signed up for and that was to be a lifeguard. It’s funny to think that even at an early age I was drawn to a job that managed risks and protected others.
R&I: How did you come to work in risk management?
Just out of school, my first job was administrative job for BB&T (the bank), that had one of the largest brokers in the world. Those administrative duties included answering the phone at the front desk. Each day, I was greeted by the CEO and we built a great rapport. One day, he asked me to help his wife sell chicken pot pies for the church. Let’s say, I overachieved on the mission. I sold out the church’s entire inventory.
It wasn’t long after that the CEO offered me a role in the company’s sales department. From there, my insurance and risk management career blossomed and I’m now the Chief Risk Officer at SEQUOIA. There are two great lessons from that experience. First, embrace the idea that no job is too small. Accept those small opportunities and do them to the best of your ability because, the second lesson, you never know where your next opportunity will come from.
R&I: What is the risk management community doing right?
More and more business leaders around the world recognize the importance of not just managing risk but of being proactive about risk management. As such, expectations for risk professionals are at their highest.
I strongly believe that the risk management community is doing a terrific job of embracing this challenge, keeping the profession’s momentum moving in the right direction, and delivering value to their organizations.
I continue to be impressed by the RIMS community. Risk professionals are eager to learn and upskill. Beyond committing to becoming better at what we do, risk professionals are always ready to share experiences and support others. The risk community is filled with exceptional collaborators.
R&I: What could the risk management community be doing a better job of?
While the risk community continues to make important strides to keep pace with today’s risks, the community needs to continue to strengthen its ability to share its story.
In addition to informing business leaders about the power and value that risk management brings to the organization, risk professionals must be able to share that same value proposition to operations managers throughout the organization. From the managers on factory floors to technology teams, risk professionals must continue articulating how risk management supports that manager’s ability to achieve set goals.
Embedding a risk aware corporate culture is paramount to successful risk management. I’m not saying risk professionals aren’t good at it, more-so we just need to continue to improve our storytelling skills.
R&I: What’s been the biggest change in the risk management and insurance industry while you’ve been in it?
Hands down: technology.
We can start with the risk. With all of the information that organizations keep “in the cloud” and the sophistication of today’s cybercriminals, keeping our businesses protected and information secure is a tremendous challenge that wasn’t as prevalent back when I started.
That said, technology has had an extremely positive impact on risk management. From predictive analytics to claims management enhancements, technology has allowed risk professionals to elevate their risk management capabilities, improve efficiencies, serve their communities better, and more effectively address risks.
R&I: What emerging commercial risk most concerns you and why?
Not just for me, but many risk professionals have had to shift strategies to account for the severe devastation caused by natural disasters and extreme weather. History isn’t necessarily repeating itself and it has become increasingly more difficult for organizations to prepare for unpredictable weather events.
Organizations are having to reexamine their property portfolios. Some are having to retrofit existing properties so that they can withstand natural disasters while navigating rising prices for construction materials. Additionally, risk professionals are having to re-evaluate property valuations. Having a strong handle on property valuations is critical to developing an appropriate insurance program, as well as post-storm recovery and rebuilding efforts.
R&I: If you were to point to two people who served as mentors to you, who would they be and why?
Nancy Mellard, executive vice president and general counsel at CBIZ, is an invaluable member of the company’s leadership team, an incredible mentor, and an inspiration to women in business. Beyond leading the CBIZ Women’s Advantage program, serving as the first female chair of Counsel of Insurance Agents and Brokers, and delivering invaluable strategic guidance that has contributed to CBIZ’s success, Nancy always makes time to support others, like me. She is a big reason that I have continued to excel in my career and I’m so grateful to have worked with her for over 8 years.
Next, is my friend Jennifer Santiago. Jennifer is known throughout the risk management world as thought-leader whose experience and incredible knowledge about the practice is second-to-none. I had the privilege of serving on the RIMS Board for many years with her and watched her lead the Society during her presidency in 2023. Throughout that time, she has always been there for me, ready to guide me through both professional risk management issues and my volunteer service with RIMS. Beyond a mentor, she’s a great friend and I can’t thank her enough for all of her support.
R&I: What about this work do you find most fulfilling or rewarding?
I love being a mentor! I love sharing my experiences to help others and watching them grow as professionals and succeed in this business.
Seasoned risk professionals, like me, have an obligation to give back and support the next generation of risk leaders. More and more students are choosing careers in risk management – that’s great – but once they enter the field, how do we keep them here? Delivering opportunities, resources, and support for early career professionals is one of top priorities as RIMS President.
R&I: What have you accomplished that you are proudest of?
At CBIZ, I had the honor and the privilege to set up its captive from scratch. Working through all the steps: from feasibility studies and captive structure parameters, to domicile selection, defining the uses for the captive, establishing its ongoing management strategies and the fun task of naming the captive, building that captive from “the-ground-up” was the most rewarding (and challenging) accomplishments in my career. It’s an experience that not many risk professionals have the opportunity to go through and, I’ve already been able to apply lessons-learned from it in my new role at SEQUOIA.
R&I: What do your friends and family think you do?
Anyone who knows me knows that I love talking about risk management and insurance. I also love teaching others about it. My family knows exactly what I do. I’ve made sure of it! My friends, well, many of them are risk managers … so, they know too! &
