New Risk and Insurance Management Society (RIMS) President Carolyn Snow has predicted a profitable future for her industry.

Ms Snow has been a member of the US-based society for 14 years and has been on its board for seven.

“Risk management has arrived,” she said. “Business leaders around the world realise this business function can do more than just protect assets.

“Risk practitioners are being called on to identify and create value for their organisations and now have a tremendous opportunity to contribute to their companies’ strategic direction.

“RIMS will provide our global network of risk practitioners with a clear vision of the future of the profession, to better equip them to advance their risk programs through 2020 and beyond.”

Ms Snow, Director of Risk Management for US healthcare company Humana, will hold the position for a year. She takes over from last year’s president John Phelps.