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Airmic is delighted to publish our 2019 survey report, supported by our partners, AIG, Control Risks, KPMG, QBE and Willis Towers Watson, and made possible by the contributions of our members.
This report should be read in conjunction with five supporting reports which address key issues through the lens of Governance, Threat Monitoring, Emerging Risks, Turning Data into Information and Geopolitics.
The world is increasingly volatile, uncertain, complex and ambiguous. Businesses must move faster, drive innovation and adapt to and shape their changing environment. The pressure to manage and report risks has never been greater. Consequently, boards and business leaders operate in an increasingly unforgiving environment and need a defined approach and the support of professionals fit to help them fulfil their risk oversight responsibilities. Companies that can depend on their boards to deliver this oversight across the spectrum of risks have an advantage.
Whilst, at face value, practices for managing risk might seem unaffected by this context, the underlying business dynamics of today are so different from those of the past, they trigger the need for recalibrating risk management and rebalancing the effort between managing traditional risks and emerging risks.
The spotlight is on risk and on the risk profession. However, there are implications for risk professionals with ambitions to gravitate from a back-office analytics and controls orientation to the centre stage of supporting commercial and other management decision-making in a risk-intelligent organisation.
More than any other factor, the key to the successful agility of risk professionals is to develop substantially new mindsets and for their capabilities to move at the same pace.
This is the New World.
The survey findings published in this and the five supporting reports will enrich our knowledge about the opportunities and ambitions of our profession, focus the Airmic education and technical agendas, and provide clarity of vision to inform our strategic thinking and plans.
Deputy CEO and Technical Director