Inside story: Lawrence Hababeh
Where are you based?
What volunteer role(s) do you do for the IFoA?
I am a member of the Risk Management Board, and lead the research stream for the Climate and Sustainability Working Group. I also chair the Black Swans Insurance Working Party and previously chaired the Climate Change Member Interest Group, and speak regularly at IFoA conferences and events.
How long have you been volunteering?
What’s involved in your role(s)?
As a Board member, I promote areas of research and support working parties that are focused on climate risk and sustainability issues pertinent
to risk management. I cover the Environmental, Social and Governance (ESG) workstream, which is intended to integrate an ESG framework into risk governance and enterprise risk management (ERM) frameworks, and the Climate Change Scenario Testing Working Party, which intends to construct a framework for long-term climate change scenarios and assess the long-term effects of physical and transition climate risks.
I am also the chair of the Black Swans Insurance Working Party.
What new skills or knowledge do you think you have developed?
Volunteering is a great opportunity to develop skills, not just about risk management and actuarial matters but also interpersonal skills, governance and strategic thinking skills. These skills are important and help in running a long-term project, such as the Black Swan Insurance Working Party.
Has this assisted your lifelong learning?
Hearing others’ views and perspectives has improved my understanding of risk management. I am constantly learning about cutting edge topics such as climate change and biodiversity, emerging risks and systems thinking applied to risk management. I have learnt a huge amount by reading, writing, talking and thinking with the people I’ve met through the Risk Management Board
and various working parties and member interest groups.
Do you think volunteering has helped you in your day job?
Very much. ThThe project management, leadership, communication, governance, and strategic thinking skills you need to be an effective volunteer are also the skills you need in many management and executive positions. Volunteering also gives you greater credibility. People get to know who you are and how you work. It has helped me to create a more international career and a brand.
What would you say to others considering a volunteer role?
Do it! It is an opportunity to meet a diverse range of people, with different backgrounds, ideas and perspectives. It will be time well spent.
Do you prefer a staycation or holiday abroad?
Holiday abroad – Scotland is beautiful.
What word best describes you?
What would you consider to be the most brilliant moment of your career to date?
As a co-lead for the IFoA COVID-19 Action Taskforce ERM workstream,
we conducted a sessional meeting on COVID-19 and the effectiveness of ERM frameworks recently. It was very successful, and well received by the risk management community. The results have justified the labour.
How do you relax away from the office?
I enjoy walking, cycling and reading.
Lawrence Hababeh, Director, Tawq ALMakhater (HedgeGenomic), specialising in risk management, quantitative and strategic risk consulting