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‘Too few prepared’ to manage future risks

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Only about a third of executives are confident their risk management teams are prepared to take on future challenges, according to a survey of more than a thousand industry participants.

Asked if they agreed the risk management professionals of today are prepared for what’s ahead, just 32% of executive leaders questioned for the survey agreed.

The survey of more than 1170 was organised by RIMS in alliance with Willis Towers Watson, The Hartford and Chubb.

Only 16% of respondents agreed there will be sufficient risk management graduates to meet 2025 demands.

In other key findings from The RIMS Risk Management Talent 2025 Report, more than 90% of those surveyed agreed universities should substantially alter their curriculums to meet future risk management challenges, that new skills will need to be developed by 2025 to meet business challenges, and a diversity of perspectives is vital to risk management decision-making.

"The industry has to continue to evolve at a pace that can keep up with changing demographics, a dynamic environment with emerging risks, and resource constraints," said Willis Towers Watson MD Imran Qureshi.