Speaker discusses risk management and what it’s like to work for a global business

The Global Business Leadership Seminar Series recently hosted Steve McDonald, Vice President and Head of Market Development, Risk, the Americas for Thomson Reuters. He provided those in attendance with helpful information on what it is like to work for a global business. (Lauren Brown/The Daily Campus)

The Global Business Leadership Seminar Series recently hosted Steve McDonald, Vice President and Head of Market Development, Risk, the Americas for Thomson Reuters. He provided those in attendance with helpful information on what it is like to work for a global business. (Lauren Brown/The Daily Campus)

The Global Business Leadership Seminar Series recently hosted Steve McDonald, Vice President and Head of Market Development, Risk, the Americas for Thomson Reuters. McDonald was the second to last presenter in the seminar series and provided those in attendance with helpful information on what it is like to work for a global business.

McDonald began his presentation by providing general background information on Thomson Reuters. Although many may have entered not knowing who or what Thomson Reuters was, it became increasingly clear that Thomson Reuters was a large company and a major player in the world of business. Thomson Reuters have produced many popular products over the years, including risk management software.

McDonald focused on Thomson Reuter’s risk management database, World Check. According to McDonald, “49 out of the 50 banks use our information to manage their risk.” The database manages over 3 million records, and provides companies with information of the possible risk involved in their business dealings. McDonald also mentioned the large fines imposed on organizations for accidently making risky business decisions, exemplifying how risk management software can assist companies.

After explaining how risk management software, such as World Check, have helped companies, McDonald provided those in attendance with several real life case studies. His examples including the infamous Panama Papers and the case of Nicos Nicolaou. Once McDonald had finished his explanation on how risk management factors into the cases, he opened up the floor for some questions before he moved onto the next part of his presentation.

McDonald spent the remainder of his presentation talking about how students can heed his advice for their particular careers. McDonald also gave a brief description on his role at Thomson Reuters, making sure to mention his diverse team.

McDonald presented several quotes from an article that discussed the “Key Assets for Developing an International Business Model.” This article listed the intellectual, psychological and social capital necessary for those wishing to participate in a global business. McDonald stated he often compares himself to the assets listed on the article, and believed that those wishing to participate in a global business should do so as well, to asses whether or not they are a good fit for an international business role.

After the presentation ended, McDonald opened up the floor again for questions. Students asked him questions regarding internship opportunities, why he chose his job and what he studied during his time in college.

The information McDonald presented was invaluable for students who wished to learn more about the field of business.

“It’s hard for a college student to get out there and get started, so it’s good to hear from someone who is already in the business world, and get their perspective of the business world,” fourth-semester communications major Shataya Hammett said.

Fourth semester economics major Megan Schloff shared a similar sentiment, stating “My dad worked for this company, so it was interesting to come and hear about it from another perspective. I was looking to get more advice on how to get out there in the business world.”

The final speaker to participate in the 2017 Global Business Leadership Seminar Series will be coming to UConn on Tuesday, April 18.


Lauren Brown is a staff writer for The Daily Campus. She can be reached via email at lauren.brown@uconn.edu.