Opportunities to Improve Organizational Alignment & Emerging Risk Discussions Highlight Annual Excellence in Risk Management ...
28 4월 2015 - 1:00AM
Business Wire
Findings from a new report jointly published today by Marsh, a
global leader in insurance broking and risk management, and RIMS,
the risk management society™, highlight opportunities for senior
executives to facilitate better organizational alignment of their
risk management departments and for risk professionals to help the
company focus discussions regarding emerging risk issues.
The 12th annual Excellence in Risk Management survey finds that
overall, critical risk management functions continue to advance and
their overall influence grow within organizations — a trend that is
likely to continue given the complexity of the global business
environment. More can be done, however, to improve the risk
management department’s strategic effectiveness.
For the first time, the Excellence survey sought to better
understand how organizational alignment affects the execution of a
risk management strategy. Among the findings, the survey revealed
that risk management departments that do not report into finance
are generally better aligned with other strategic functions within
their organizations — most notably in the areas of enterprise risk
management, compliance, IT risk management, privacy, and
security.
Additionally, 27% of the risk professionals who report into the
CFO or treasurer said they expect an increase in spending for
training risk management staff, whereas 46% — nearly double — of
those reporting elsewhere expect an increase.
“Finance executives certainly have an opportunity to facilitate
greater organizational connections for the risk management
departments that report to them in order to position them for
broader impact across the enterprise,” said Brian Elowe, a managing
director at Marsh, and co-author of the report.
Opportunities also exist for risk management when it comes to
emerging risks. According to the survey, only 27% of risk
professionals said that identifying emerging risks would be a
priority in the coming year, which is counter to the message being
heard from many boards that are concerned with “what’s around the
corner.”
Furthermore, when asked how companies view the potential impact
from some of the top global risks as discussed in this year’s World
Economic Forum Global Risks 2015 report, the majority of risk
professionals categorized state collapse, climate change, and water
crisis as risks that are not of immediate concern, with many saying
they would never impact their organizations. This is despite all
three ranking highly in this year’s Global Risks report in terms of
their likeliness to happen and their potential impact over the next
10 years.
“These findings certainly suggest that more can be done to
elevate discussions around emerging risk issues within
organizations, with an eye toward potential long-term operational
and/or financial consequences,” said Carol Fox, director of the
strategic and enterprise risk practice at RIMS, and a co-author of
the report. “The good news is senior leadership more than ever is
relying on risk management to provide strategic input around
business strategy, so there is a real opportunity for risk
professionals to lead discussions in this area.”
The Excellence in Risk Management XII survey is based on more
than 300 responses to an online survey and a series of focus groups
with leading risk executives in February 2015.
Findings from the survey were released today at the RIMS 2015
Annual Conference & Exhibition. Copies of the survey are
available on www.marsh.com and www.rims.org.
About Marsh
Marsh is a global leader in insurance broking and risk
management. Marsh helps clients succeed by defining, designing, and
delivering innovative industry-specific solutions that help them
effectively manage risk. Marsh’s approximately 27,000 colleagues
work together to serve clients in more than 130 countries. Marsh is
a wholly owned subsidiary of Marsh & McLennan Companies
(NYSE:MMC), a global professional services firm offering clients
advice and solutions in the areas of risk, strategy, and people.
With 57,000 colleagues worldwide and annual revenue exceeding US$13
billion, Marsh & McLennan Companies is also the parent company
of Guy Carpenter, a global leader in providing risk and reinsurance
intermediary services; Mercer, a global leader in talent, health,
retirement, and investment consulting; and Oliver Wyman, a global
leader in management consulting. Follow Marsh on Twitter
@MarshGlobal, or on LinkedIn, Facebook, and YouTube.
About RIMS
RIMS, the risk management society™, is a global not-for-profit
organization representing more than 3,500 industrial, service,
nonprofit, charitable and government entities throughout the world.
Dedicated to advancing risk management for organizational success,
RIMS brings networking, professional development and education
opportunities to its membership of more than 11,000 risk management
professionals located in more than 60 countries. For more
information, visit www.RIMS.org.
Photos/Multimedia Gallery Available:
http://www.businesswire.com/multimedia/home/20150427005980/en/
MarshSally Roberts,
303-952-9453sally.roberts@marsh.comorRIMSJosh Salter,
212-655-6059jsalter@rims.org
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