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RIMS explores risk management’s post-GFC strategic rise

The Risk and Insurance Management Society has published a report chronicling the evolution of enterprise risk practices since the 2008 global financial crisis.

Executives from various industries provided insights on the topic, and examined how the landscape may look in the next decade.

“The evidence shows risk management has evolved from a promising but somewhat perfunctory exercise into a strategic management competency,” VP Strategic Initiatives Carol Fox said.

“Even so, given increasingly uncertain times, risk management professionals would be unwise to declare victory or become complacent.

“As a core organisational competency, risk management has the opportunity to play a key role in successfully dealing with a broad spectrum of risks that can impact more than just the organisation, but economies, societies, environments and industries as well.”