The risk manager’s role shows growing professionalism and business value

29.11.2018

29 November 2018

The 2018 FERMA European Risk Manager survey reveals significant evolution in the role of the European risk manager today. A report of the survey, conducted in partnership with PwC France and Francophone Africa, was announced in a webinar today. It draws on the views of 734 risk managers in 29 countries.

·     76% of risk managers assess risks that could affect the relevance and viability of the organisation’s strategy and objectives.

·     Nearly 70% of risk managers act as risk conductors, consolidating information from other risk-related functions to give a clear and comprehensive view to top management.

·     Strategic activities such as governance, risk culture and risk appetite are increasingly part of the mission of the risk manager.

·     There is a strengthened connection with IT and information security, which is significant as cyber risks are ranked as the number one threat to future growth.

·     86% are responsible for developing risk maps, risk identification, analysis, evaluation, prioritisation and reporting.

·     Risk managers are increasingly using new technologies to be more predictive and proactive.

·     Insurance management practices are largely stable, but insurance managers are considering strategies for the possibility of a harder market.

This is the ninth European Risk Manager Survey. It has taken place every other year since 2002, and it provides a unique insight into the views and the roles of risk managers across Europe. This year, FERMA and PwC France and Francophone Africa changed the emphasis slightly to explore better the work of risk managers in supporting the success and sustainability of their organisations.

FERMA President Jo Willaert said: “We believe that demands for sustainability, good corporate conduct and rapid digitalisation are leading to profound changes in organisations. This survey shows that the role of the risk manager is evolving to meet these changes. He or she has never been better equipped to be a co-pilot for the board and top management in this transformation.”

To enhance the value of the survey results for national associations and their members, FERMA and PwC France and Francophone Africa have also broken down the analysis by country or regional group. FERMA survey leader, Charlotte Hedemark Hancke, explained: “The country profiles highlight national specificities in comparison to the European results. FERMA, therefore, has put back at the centre of the Risk Management Survey what it is that makes this project unique: local results in a European context.”

Françoise Bergé, Partner Risk Assurance and Advisory Services, PwC France: “Risk managers play their role when collaborating with other functions within the organisation to provide comprehensive analysis of the risks to the top management and the board. This report helps to understand the current responsibilities and challenge of the European risk managers and to identify emerging good practices”

The 2018 European Risk Manager Report will be available on

15 December 2018 with following link:

 

https://www.ferma.eu/2018-european-risk-manager-report

CONTACTS 

Lee Coppack, FERMA, Media Coordinator: lee@coppack.co.uk 

tel: +44 (0)208 318 0330/ +44 (0)7843 089904

Typhaine Beaupérin, CEO FERMA: typhaine.beauperin@ferma.eu

+32(2)7619431

Roxane Lauley, PwC, Press relations: roxane.lauley@pwc.com

+ 33 156571314

About FERMA

The Federation of European Risk Management Associations brings together 22 risk management associations in 21 European countries, representing 4800 risk managers active in a wide range of organisations. FERMA provides the means of co-ordinating risk management and optimising the impact of these associations outside their national boundaries on a European level.

Member associations are from the following countries: Belgium (BELRIM), Bulgaria (BRiMA) Czech Republic (CZRMA), Denmark (DARIM), Finland (FinnRima), France (AMRAE), Germany (GNVW), Italy (ANRA), Luxembourg (ALRiM), Malta (MARM), Netherlands (NARIM), Norway (NORIMA), Poland (POLRISK), Portugal (APOGERIS), Russia (RusRisk), Slovenia (Sl.RISK), Spain (AGERS and IGREA), Sweden (SWERMA), Switzerland (SIRM), Turkey (ERMA) and United Kingdom (Airmic). 

FERMA is a member of the International Federation of Risk and Insurance Management Associations (IFRIMA). For more information, visit www.ferma.eu

About PwC France & Francophone Africa

PwC is developing its advisory, audit and accounting engagements in France and French-speaking Africa by leveraging an industry-specific approach. More than 236,000 people in 158 countries belonging to the PwC international network share their ideas, expertise and innovative views to deliver high-quality service to clients and partner companies. PwC’s French and French-speaking African firms comprise 6,400 people working out of 23 countries.

For more information, visit www.pwc.fr


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