Recent reports from the Harvard Business Review and Ernst & Young have shown that effective enterprise risk management (ERM) is becoming increasingly important to senior management. Organizations are moving out of the Compliance cul-de-sac and seeing that ERM can add significant value to the bottom line. But up to now there has been little focus on the employees who have to deliver on the promise.
Our recent ‘What Makes a Great Risk Manager?’ survey, which had 800 responses, found that many of today’s risk managers are feeling highly pressured in their jobs. Analysis showed that 20% of risk professionals are facing major stress, when just 2% of sales professionals fell into this category in a comparative study.
Organizations have to focus on the career and education needs of their risk professionals if they want to retain and develop teams that can make corporate risk initiatives effective at improving profitability and performance. Initial feedback we have received from risk managers is that organizations with formalized risk training and career paths are in a tiny minority.
To gain more insight we have decided to run a follow-on survey on ‘What Makes a Great Risk Career?’ Risk professionals are invited to take part in the research. Take our survey now.
I’m certain the results will be enlightening!