Risk or resilience?

Is it time to rebrand what Airmic members do? Should we ‘think resilience’ rather than risk management, and should the most senior practitioners consider themselves as ‘heads of resilience’? While not necessarily going that far, technical director Paul Hopkin’s experience of producing Airmic’s latest research has got him thinking that a change of emphasis is needed.

In last month’s edition, Airmic board member John Ludlow warned that risk professionals would be side-lined unless they started to think and behave like business people. Taking up the argument, Airmic technical director Paul Hopkin believes that, while risk management skills will always be relevant, there needs to be a new focus on resilience.

“Either we come together and develop business leadership skills, become a mainstream business discipline and add significant value, or we stay as fragmented technical people, called upon only when needed,” John Ludlow warned readers of this publication in September.

Whilst these comments represent Ludlow’s personal views, they have struck a chord with technical director Paul Hopkin as he oversees Airmic’s latest research, ‘Roads to Resilience’. The work is being carried out on the association’s behalf by Cranfield Business School, and is intended to showcase organisations that exhibit best practice, the key word in the title being ‘resilience’.

He has noted that a small number of organisations have recently advertised for ‘Heads of Resilience’, whose job descriptions approximate to what one might normally expect of a Chief Risk Officer.

“This is a much more upbeat title, it sounds less technical and it emphasises the benefits that our members bring to their organisations,” he says.

What’s in a word?

‘Roads to Resilience’ is due out later this year, and is intended as something for risk managers and their boards to consider. “Resilience is a key board responsibility and, as we know only too well, some boards do not take it as seriously as they should. In the eight case studies in our report where things have gone right there has been someone with risk management responsibilities who has been head of resilience in all but name,” says Hopkin.

He believes that risk managers should focus on the benefits of resilience, getting away from "constant emphasis on the negative impact of risk".It may only be a change of word, but Hopkin believes the different focus and perspective will result in a less theoretical, more results-oriented outlook; it will help Airmic members to contribute more within their organisations and move up the value chain.

“Of course technical risk management skills will always be essential, but they should be a given. You automatically assume that they will deliver results. Our mind-set should be about delivering fundamental benefits as well. And resilience is what all Airmic members, no matter what their role, bring to their organisations,” he says.

If you have any views on this subject or the future role of risk managers, please contact the editor at mark.baylis@airmic.co.uk

Paul Hopkin - “Our mind-set should be about delivering fundamental benefits”