Risk managers increasingly involved in corporate strategy
- Published: Tuesday, 02 August 2022 08:42
The Federation of European Risk Management Associations (FERMA) has now published the results of its 2022 European Risk Manager Survey, in cooperation with PwC France. The results confirm that we are in a period of transition in which risk managers are increasingly involved in corporate strategy.
Charlotte Hedemark Hancke, chair of FERMA Survey Committee 2022 said: “The results of this 2022 survey show the risk manager is increasingly collaborating with other risk-related functions and consolidating information for the top management, including on strategic topics such as sustainability and digital risks.”
The survey has now taken place every other year for 20 years. It represents the most comprehensive picture of the views of professional risk managers across Europe.
Other key findings include:
- Risk discussions at Board/top management levels are more frequent.
- Two-thirds of risk managers have either direct access to the CEO or via their line manager.
- Resilience is more than ever a priority for top management, and the role of the risk manager is evolving as a consequence.
- Risk managers are taking additional responsibilities, especially for business continuity and crisis management.
- In terms of transition to a digital and green Europe, collaboration between risk management and IT and information security has consolidated over the past few years and is now a normal aspect of their work.
- Risk managers are also increasingly involved in sustainability matters and environmental, social and governance (ESG) related risks.