A Brand New Day with RIMS President Kristen Peed

Mar 11, 2025

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Welcome to RIMScast. Your host is Justin Smulison, Business Content Manager at RIMS, the Risk and Insurance Management Society.

Our guest, Kristen Peed, is the Chief Risk Officer of Sequoia, and RIMS 2025 President. Kristen was recently promoted to Chief Risk Officer. She tells about that role and how it differs from her other risk roles.

Kristen speaks of a few of the risks to organizations today. She shares two stories of mentorship from her past and her efforts to provide mentorship today. Kristen shares thoughts about the evolving role of the risk manager and her pathway to the C-Suite for a seat at the table. She discusses the legislative summit, the topic of third-party-funded litigation, and the need for transparency and regulation.

Justin and Kristen discuss how every day is a brand new day for RIMS, what will be celebrated at RISKWORLD 2025, and a couple of new RIMS initiatives you can expect to learn about there. Kristen shares her gratitude to all the RIMS volunteers who make her job as 2025 president possible.

Listen for Kristen's career advancement advice and her final suggestion for growth.

Key Takeaways:

[:01] About RIMS and RIMScast.

[:14] Public registration is open for RISKWORLD 2025! Engage Today and Embrace Tomorrow with RIMS at RISKWORLD from May 4th through May 7th in Chicago, Illinois. Register at RIMS.org/RISKWORLD and the link in this episode's show notes.

[:31] About this episode of RIMScast. We will be joined by RIMS President Kristen Peed.

[:48] RIMS-CRMP Workshops! The next workshop will be March 19th and 20th. Register by March 12th. As part of our continuing strategic partnership with Purima, we have a two-day course coming up on April 22nd and 23rd.

[1:03] Links to these courses can be found through the Certification page of RIMS.org and this episode's show notes.

[1:10] Virtual Workshops! On March 26th, Pat Saporito will host "Generative AI for Risk Management".

[1:18] On April 16th and 17th, Chris Hansen will lead "Managing Worker Compensation, Employer's Liability, and Employment Practices in the U.S.".

[1:31] A link to the full schedule of virtual workshops can be found on the RIMS.org/education and RIMS.org/education/online-learning pages. A link is also in this episode's show notes.

[1:40] RISKWORLD registration is open. Engage Today and Embrace Tomorrow, May 4th through 7th in Chicago. Register at RIMS.org/RISKWORLD. Also, remember there will be lots of pre-conference workshops being held in Chicago just ahead of RISKWORLD.

[1:57] These courses include "Applying and Integrating ERM," "Captives as an Alternate Risk Financing Technique," "Contractual Risk Transfer," "Fundamentals of Insurance," "Fundamentals of Risk Management," RIMS-CRMP Exam Prep, and more! Links are in the show notes.

[2:17] Our guest today is the Chief Risk Officer at Sequoia and the RIMS 2025 President, Kristen Peed. We're going to talk about her risk management career journey, what it took for her to ascend to the level of Chief Risk Officer, and what that means for her organization.

[2:38] We will also talk about the power of mentorship, networking, and what's in store for us at RISKWORLD 2025 and throughout the year as we celebrate the 75th anniversary of RIMS.

[2:50] Interview! RIMS 2025 President, Kristen Peed, welcome to RIMScast!

[3:07] This is Kristen's eighth year on the RIMS Board. It's been an amazing journey! Most of her best friends are RIMS staff members or RIMS members, all over the globe. RIMS is a huge part of her life! Justin joined RIMS almost eight years ago. They have known each other for years.

[3:33] Justin shares a memory with Kristen in Halifax. Kristen took part in an impromptu presentation, in the role of a petulant child.

[4:06] Kristen wears sneakers; she has branded herself as the sneaker queen. She has stopped counting how many pairs of sneakers she has.

[4:34] This year is the 75th anniversary of RIMS. There is a big RISKWORLD in May; its theme is Engage Today and Embrace Tomorrow with RIMS.

[4:54] Kristen Peed was recently promoted to Chief Risk Officer of Sequoia. Sequoia has ambitious growth goals, which is one of the reasons Kristen joined it. In her new role, Kristen has oversight of all corporate risks.

[5:27] These include enterprise risks, IT risks, security risks, property & casualty risks, and E&O risks. It's overarching.

[5:46] Kristen sees there has been a slow transition for risk managers in general, from a transactional, procurement role to a strategic role, where they see opportunities with risk. Where they see places where they can offer value and insight.

[6:07] Sequoia is a client-based company. Clients are reaching out to Kristen for help dealing with deep-fake interviews. Kristen looked to the RIMS Board of Directors and Cherise Papadopolo, RIMS VP of DEI, People, & Culture, and got some helpful HR information.

[6:48] Kristen was able to provide strategic advice to a Sequoia client's Chief People Officer. It's a perfect example of how RIMS helps risk managers to be viewed as strategic. The RIMS community is part of the reason Kristen was able to take on the role of Chief Risk Officer.

[7:13] The role is something Kristen has been preparing for ever since she started as a risk analyst. Every step has been more of a strategic and leadership role rather than being in the weeds doing stuff. The Chief Risk Officer helps navigate and chart the map for the "captain."

[7:55] Kristen's career advancement came both from having a plan and from being seen for her hard work. She has learned to ask for things more. She was fortunate to have some success early in her career and capitalized on it. A new boss provided amazing mentorship for Kristen.

[8:41] She asked, "What's the next role for Kristen?" Kristen realized she would like to be considered for a Chief Risk Officer role. Kristen's boss understood her value and wanted to make sure she felt appreciated. Six months later, Kristen was offered the role if she wanted to take it.

[9:45] Part of it is making your leadership aware that these titles exist, showing your value, and asking for it.

[10:05] One of Kristen's early successes at Sequoia involved using her RIMS network to put together a presentation on using surplus funds from the captive PEO insurer to fuel additional risk management activities. Leadership was excited and Kristen implemented it right away.

[11:03] Another success was the consolidation of insurance programs. Sequoia had grown quickly and had renewal dates in different places. Kristen showed her market savvy and leveraged her relationships with carriers to bring down some initial premium costs.

[12:00] Kristen says that putting the C-level title on a risk officer differentiates it. When she partners with the CISO or the Chief Data Officer, they are on equal footing. The C-level carries more weight. It also helps carriers in the marketplace see her as being in company leadership.

[12:42] When Kristen meets with underwriters and carriers, they have a greater sense of comfort knowing she has a seat at the table and understands the direction of the company and how to mitigate against risk before it hits insurance.

[13:01] Plug Time! RIMS Webinars! On March 13th, our friends from Global Risk Consultants will return to discuss "How to Make Your Property Insurance Submission AI-Ready".

[13:15] On Wednesday, March 26th at 2:00 p.m. Eastern Time, members of the RIMS Strategic and Enterprise Risk Management Council will extend the dialog that began in the recent RIMS Executive Report "Understanding Interconnected Risks".

[13:30] On Thursday, March 27th, Descartes Underwriting will make its RIMS Webinar debut with a session about parametric insurance. On April 3rd, join Zurich for "Understanding Third-Party Litigation Funding".

[13:43] On April 10th, Audit Board will present, "What CISOs Want Risk Executives to Know About Cyber Risk in 2025".

[13:51] Following the success of their recent webinar, HUB International returns for the next installment of their Ready for Tomorrow Series, "From Defense to Prevention: Strengthening Your Liability Risk Management Approach". That session will be on April 17th.

[14:07] On April 24th, RiskConnect returns to deliver "Better Together: The Marriage of Insurable Risk and Business Continuity".

[14:40] More webinars will be announced soon and added to the RIMS.org/webinars page. Go there to register. Registration is complimentary for RIMS members.

[14:26] Let's Return to Our Interview with RIMS 2025 President Kristen Peed!

[14:37] As a follow-up to the RIMScast episode with Mark Prysock on RIMS's legislative priorities, Kristen talks about third-party-funded litigation. It affects risk managers, carriers, and brokers because of premium pricing.

[15:06] It's necessary to have transparency around third-party-funded litigation and eliminate the ability of foreign entities to fund and profit from it. The concern is around nuclear verdicts that are detrimental to the industry as a whole.

[15:39] Nuclear verdicts will impact pricing, not only for that one company but for all risk managers. These verdicts are not sustainable. We need transparency. We want Congress to act upon this. We can all get behind this. Kristen doesn't think this is a partisan issue.

[15:58] Being able to partner with our carriers and brokers to have a strong message on the Hill is critical to the success and continuation of our industry.

[16:08] Time and money are finite resources. There is no bottomless pit of money.

[16:30] Kristen will soon be going to Capitol Hill with fellow risk practitioners for the RIMS Legislative Summit.

[16:43] Kristen got involved in legislative advocacy after getting a mailer for the Legislative Summit. She attended and met the staff, including Robert Cartwright. She saw It was an amazing platform for risk managers to have their voices heard by the people they elect.

[17:17] The RIMS Legislative Summit is one of Kristen's favorite annual events. It can be so impactful to the community as a whole. It will be March 19th and 20th. This is your last chance to register for it. Prepare for the trip to D.C.

[17:54] March is Women's History Month. Kristen says she was lucky to have some key female leaders placed in her life at critical moments, that helped her down this path.

[18:15] At CBIZ, Nancy Mallard was the GC for CBIZ's Benefits and Insurance Division. She was the first female chair of the CIAB (The Council). Kristen saw Nancy's leadership throughout the years in the industry. Kristen used her great example to figure out how to get involved at RIMS.

[19:15] Kristen's new boss, Kathy Ross, is amazing. She's been a great advocate for Kristen and it has been awesome to learn from her how to elevate her leadership skills. Kristen feels blessed to have had these two impactful women in her life.

[19:47] Sequoia's culture is paramount to its people. One of its service commandments is "Be of extraordinary value to others." Sequoia's mission is "Coming through for others that put their trust in us." Kristen takes these values to heart, whether in mentoring or calling on the phone.

[20:39] Kristen looks at how she can help create career paths for people and develop them, at Sequoia and in the risk community, as well. Kristen brings together interns and "externs" from other companies and stays in touch with them. She always asks them to pay the help forward.

[21:35] Plug Time! Kristen Peed was a board member of the Spencer Educational Foundation.

[21:41] The Spencer Educational Foundation's goal to help build a talent pipeline of risk management and insurance professionals is achieved in part by its collaboration with risk management and insurance educators across the U.S. and Canada.

[21:59] Since 2010, Spencer has awarded over $3.3 million in general grants to support over 130 student-centered experiential learning initiatives at universities and RMI non-profits.

[22:13] Spencer's 2026 application process will open on May 1st, 2025, and close on July 30th, 2025. General Grant awardees are typically notified at the end of October. Learn more about Spencer's General Grants through the Programs tab of SpencerEd.org.

[22:31] Spencer has several events lined up before and during RISKWORLD 2025. On May 3rd, there's the Spencer-CNA Pickle Ball Social, on May 4th, the Spencer-Gallagher Golf Tournament, on May 5th, the Spencer Soiree, and on May 6th, the Spencer-Sedgwick 5K Fun Run.

[22:51] You can register for or sponsor any of these through the links on this page or by visiting SpencerEd.org/riskworld2025.

[23:00] The Conclusion of My Interview with RIMS 2025 President, Kristen Peed!

[23:27] Kristen's theme for her presidency is Brand New Day. Every day is a brand new day of risks. Every day, new risks are popping up. Whether AI, advancements in cyber threats, wildfires, or climate change, everything is changing.

[24:12] It's a brand new day for risk managers. We have to be more nimble and strategic. That means it's a brand new day for RIMS. It's about how RIMS is going to support us in this moment and also as we move into the future, making sure we stay relevant for the next 75 years and on.

[24:41] A new track, Alternative Risk Transfer, highly focused on captives, is being presented at RISKWORLD 2025. This is something risk managers have been asking to learn more about. It's part of the strategic conversation; how do you start to offer value back to your company?

[25:09] How do you more strategically look at risk from a long-term perspective? That dovetails with Enterprise Risk Management. RIMS ERM content is relevant and has evolved over time. Captives will continue to be a value-generating part of the profession.

[26:06] The 75th anniversary of RIMS is special for Kristen because it shows that RIMS has come so far. This year, RIMS is launching the RIMS Foundation to create opportunities for early-career students. That's the critical time to help them stay in the profession.

[26:47] The RIMS Foundation will provide them with opportunities for growth, learning, and networking. This is a graying industry. We need to attract the next generation of talent to the industry and fill the pipeline with lots of people to backfill when current risk professionals retire.

[27:21] Also in 2025, RIMS has a brand new Texas regional conference from August 4th through the 6th, on the San Antonio River Walk. People are reaching out to Kristen to submit sessions. It's exciting to see all the buzz around that conference.

[28:35] Kristen's concludes: "Never quit learning. In my role, I've been doing this for two-plus decades, but I learn something new every day. When I took the RIMS-CRMP, I learned even more. It's the only risk management credential accredited by ANSI. Go and get your RIMS-CRMP."

[28:56] "It is one of the best educational opportunities you will have to demonstrate your proficiency and excellence and show your senior leadership team that you have the skills to elevate and provide strategic direction to your company."

[29:18] Justin notes that later this year, you can look for a RIMS-CRMP story, featuring RIMS 2025 President Kristen Peed.

[29:23] Kristen, it is such a pleasure to see you! I'm so happy that you're our president this year and I'm happy for your continued success. I look forward to being able to celebrate with you in May at RISKWORLD 2025!

[29:35] Kristen says she is honored to lead RIMS this year but it wouldn't be possible without all the other volunteer risk professionals around the world, all our chapter leaders, all committee members, and all our council volunteers.

[29:53] Kristen wants to thank everybody who donates their time and energy to making RIMS so relevant and future-thinking. I could not do what I do without your support.

[30:10] Special thanks again to RIMS 2025 President, Kristen Peed. Be sure to catch her at RISKWORLD 2025. She will have a presence on the main stage and during many of the ceremonies. Be sure to register for RISKWORLD 2025 at RIMS.org/riskworld.

[30:23] More RIMS Plugs! You can sponsor a RIMScast episode for this, our weekly show, or a dedicated episode. Links to sponsored episodes are in the show notes.

[30:48] RIMScast has a global audience of risk and insurance professionals, legal professionals, students, business leaders, C-Suite executives, and more. Let's collaborate and help you reach them! Contact pd@rims.org for more information.

[31:05] Become a RIMS member and get access to the tools, thought leadership, and network you need to succeed. Visit RIMS.org/membership or email membershipdept@RIMS.org for more information.

[31:21] Risk Knowledge is the RIMS searchable content library that provides relevant information for today's risk professionals. Materials include RIMS executive reports, survey findings, contributed articles, industry research, benchmarking data, and more.

[31:35] For the best reporting on the profession of risk management, read Risk Management Magazine at RMMagazine.com. It is written and published by the best minds in risk management.

[31:48] Justin Smulison is the Business Content Manager at RIMS. You can email Justin at Content@RIMS.org.

[31:54] Thank you all for your continued support and engagement on social media channels! We appreciate all your kind words. Listen every week! Stay safe!

Mentioned in this Episode:

RISKWORLD 2025 — May 4‒7 | Register today!

RIMS Legislative Summit — March 19‒20, 2025

Nominations for the Donald M. Stuart Award [Canada]

Spencer Educational Foundation — General Grants 2026 — Application Dates

Spencer's RISKWORLD Events — Register or Sponsor!

RIMS-Certified Risk Management Professional (RIMS-CRMP)

RISK PAC | RIMS Advocacy

RIMS Risk Management magazine

RIMS Leadership Corner — Featuring Kristen Peed

RIMS Webinars:

RIMS.org/Webinars