The role of risk management in corporate resilience: new survey-based report
- Published: Tuesday, 28 September 2021 08:11
A new report published by the Federation of European Risk Management Associations (FERMA) and the global management consulting firm McKinsey looks at the role risk and insurance managers are playing in developing the resilience of their organizations.
The report presents the views of risk and insurance professionals and senior executives about a post-pandemic view of resilience management in their organizations.
Key findings include:
- More than 90 percent of those surveyed said that the global pandemic made risk management and resilience more important to their organizations.
- The majority of survey participants feel their organizations are well equipped to manage resilience overall. Risk and insurance managers are involved in the process in a meaningful way with further room to lead initiatives, especially in predictive capabilities such as scenario planning and stress testing.
- More than 60 percent of the participants acknowledge resilience as a top priority or very relevant in strategic decision-making.
- Looking forward, almost three-quarters of the risk managers surveyed see a clear need for both improving risk culture and more strongly integrating resilience in their organizations’ strategy.
Read the survey report (PDF).