Risk management steering committee is recruiting

Do you want to be at the heart of Airmic's risk management strategy and to contribute to the latest thought leadership? Or would you like to share ideas and debate topical challenges with other risk professionals?

Airmic's risk management steering group does all those things and more, and it is looking for new members.

Driving excellence in risk management is one of the key pillars of Airmic's strategy. Understanding the needs and the challenges facing Airmic members and working with the wider industry to provide guidance and thought leadership is therefore vital. Flagship reports such as Roads to Resilience and Roads to Ruin are examples of the results of such work.

The risk management steering committee is at the heart of this. Meeting quarterly, it brings together like-minded risk professionals to discuss current issues, and to contribute to Airmic’s risk management agenda. With work beginning on the next flagship report, now is an ideal time to influence the thought leadership in risk management.

Daniel Evans, deputy chair of the committee, said he would encourage any Airmic member who has day-to-day input into their organisation’s risk management to get involved. “One of the great benefits of the committee from a personal perspective is sitting down with different risk managers from a range of backgrounds and learning from everyone’s experiences. It’s very interesting to see how different industries tackle risk management issues differently.”

He added: “It’s hugely valuable from a career perspective but it’s also a great way to feed your own ideas into the technical projects that Airmic produces.”

The examples below provide a snapshot of just some of Airmic's current risk management projects that the committee is involved in.

Reputational Risk:

A huge 90% of Airmic members see reputational risk as one of their biggest concerns, yet only a very small minority have a specific mitigation strategy. Reputation can be a company’s most important asset, yet it is extremely hard to manage because of its complexity and potential magnitude. There isn’t even, as yet, a common definition of reputational risk. Airmic is working with the Reputation Institute to develop a more sophisticated understanding of reputation, looking at the key drivers and exploring how to quantify its impact. The aim is to help risk managers better manage the risk.

Risk and the business model:

Airmic is working with CIMA, the chartered institute of management accountants, on making the case for a new way of thinking about risk – one that directly links risk management to the business model. There are ever-increasing demands on boards to not only understand risk, but to ensure it is fully embedded in the company’s tactical and strategic thinking. Risk management has developed significantly over the last decade but now needs to evolve further to achieve this. This thought leadership will explore how risk can be managed using the business model and how best to make the case to boards.

Roads to Resilience:

Airmic’s flagship report Roads to Resilience, published last February, used a series of case studies in best practice to explore the reasons for corporate success across a range of industries. The report provided a rich source of lessons about risk and was widely acclaimed. The task now is to draw out the practical advice and key next steps that will help our members use the report to contribute to the success of their organisations. To this end, Airmic is working on a practical implementation guide to Roads to Resilience as well as an online support tool.

If you are interested in being involved in the committee, or have further questions, please email katie.moore@airmic.com.