New Report Explores Risk Management’s Move from Defense to Offense
As the risk management profession evolves from a protective function to one that can create value for an organization, RIMS Executive Report “The Evolving Role of the Risk Professional” emphasizes that the need for determined and adept risk leaders to build risk management capabilities at every level of an organization has become an essential component to organizational success.
The new report, released at RIMS Canada Conference, explores the history of risk management, from its evolution from a traditional or defensive approach, to a more advanced, integrated approach, and then to the contemporary risk management discipline known as enterprise risk management that encourages organizations to leverage risks to create value. The report also takes an in-depth look at the responsibilities of today’s risk professional.
“Regardless of where enterprise risk management is initiated within an organization, the risk professional’s role and responsibilities have evolved over the years to reflect greater visibility with a broader span of focus and value,” said Carol Fox, RIMS Director of Strategic and Enterprise Risk Practice. “It is abundantly clear that successful future risk leaders must be adaptive, informed and ready for whatever changes the future may bring.”
RIMS Canada Conference, held from September 9 to 12 in Saskatoon, Saskatchewan, featured a panel discussion Are We There Yet? The Evolving Role of the Risk Management Professional. The panel addressed key findings from the Executive Report including the various roles, responsibilities, as well as current and future challenges for risk practitioners and the profession. To learn more about the conference or the panel, visit www.rimscanadaconference.ca
The full report can be downloaded at www.RIMS.org/RIMStore.