Here's how you can navigate time zone differences in virtual collaboration as a risk manager.

Risk managers in geographically dispersed teams face challenges like scheduling meetings, communication delays, and reduced collaboration due to time zone differences. To overcome these, they can create a time zone chart, embrace asynchronous communication, rotate meeting times, set core working hours, establish clear communication guidelines, and use decentralized risk management strategies. Virtual team-building exercises can foster team cohesion, respect cultural differences, and promote work-life balance.

It is very common for Asset allocators to take MOMENTUM into account, but surprisingly, not for Risk Managers. The first one is like a football striker and the other, a goal keeper. Still, kicking is crucial for both. Momentum can make you buy an asset and sell it before it turns around. And can make you dry your credit sink before a default tsunami breaks in. And yet, we spend so much time analyzing individual proposals that we dont have a ERP adjusting the supply. Something to do in numbers, hard to do in organizational culture.

By identifying risks,we can fix deadline, develop communication and team dynamics.This will impact on the time differences.While scheduling any meeting,we should fix the time such a way so that every member can attend.We should also focus on real time communication avoiding overlapping hours.

One good approach is planning the required level of engagement proactively. As a result the project team members are well aware when to join (i.e. live or post meeting feedback going through recordings & materials ). A timely feedback mechanism is essential here and if the feedback is crucial, immediate notice for action is also required. Setting the DESIGN in advance is key.

Not all team members are at their best during traditional work hours. Some are night owls, others early birds. In a global team, this diversity can be leveraged as a strength. Consider implementing a "chrono-mapping" exercise. This involves plotting each team member's peak productivity hours against their time zone. The resulting visual aid can reveal unexpected synergies and natural handoff points for 24/7 workflow. Moreover, the concept of "time zone empathy" deserves attention. Regular role-reversal exercises, where team members occasionally work in their colleagues' time zones, can foster deeper understanding and more considerate scheduling.

To plan ahead,we should consider the following issues: 1) There should be a deadline to complete the required assigned task. 2) By this,we can improve the employees productivity also. 3) To schedule any meeting in such a way,so that every member can attend.

An important touch point is understanding the critical stakeholders in the risk management and they need clear guidance well in advance.

It's called a clock, check it out, and be flexible: When you have something to share and your working hours aren't overlapping, consider whose clock should be given preference.

All stakeholders should be familiar with such tools to an accepted competent levels. Otherwise investment will not give the optimum results.

Allowing flexibility should come with responsibility too. More often project team members are not convinced enough of responsibility despite allowing them with responsibility. It is the utmost duty of project leader to carefully have project culture developed in keeping this valuable point.

If your firm allows colleagues in different locales to specify their working time zones, simply knowing what those are and respecting them makes a difference. Even better when they know that you know.

Regular reviews should be a part of the plan and team members should seriously support their feedback. Otherwise review mechanism will be limited to a desk exercise with out any contribution to project in progress.

Same project undertaken by teams diversified in time zones connected with each others should have flexibility of time cushion upto extent of 24 hours dependent on gap in time line as to give fair chance to concerned team which is behind in time zone to play their part at best level. Target time line, future committments , all deliverables should be comfortably in range of time zone for accomplishments. Furthermore meetings discussions are to be held in found common working hours at both sides in time zone. This may be happen if set hours for mutual discussion fall in 1st half of day at one side and fall in 2nd half of day at other side. Work from home an alternate option is also effective to provide ease at both sides.