FERMA Newsletter N°75



Newsletter #75

February 2017


World Economic Forum recommendations enhance FERMA's work on cyber risk governance 

Work by World Economic Forum (WEF) on cyber resilience demonstrates the value of the work now underway by Federation and European Risk Management Associations (FERMA) on governance for cyber risks in European organisations, according to the President of FERMA, Jo Willaert.



FERMA Forum 2017 off to a racing start in Monaco

FERMA has re-tuned the engine of the Risk Forum, so the 2017 meeting will get off to a racing start on 15 October in Monaco. 


The  Forum website is live, exhibition registrations are buzzing and there are already exciting new items on the programme. 


Visit 2017 FERMA Forum website now !


FERMA Forum 2017 Putting Risk Managers in Pole Position - steering risks in turbulent times


15-18 October 2017

Grimaldi Forum, Monaco


         Read more on our website



Business travel risks - we need your views





The survey is part of the research that FERMA is conducting with the International SOS Foundation into the changing nature of risks for a travelling workforce. The results, with practical recommendations, will be published at the FERMA Forum 2017 on 15-18 October. 



Have you replied yet to the one-minute survey

"Workers on the move - Managing new risks"? No? 


All you have to do is answer six short questions.



Increased risk reporting requirement webinar on 9 March


The webinar will illustrate how risk managers can support their boards in expressing the risk appetite of the organisation and provide input in the 'annual report' process. The EU system will be compared to the US approach.


The series of webinars that started in 2016 with AIG and the European directors' association ecoDa will continue in 2017 with the objective of improving the risk conversation at board level. A new webinar about the increased EU transparency and reporting requirements will take place on Thursday 9 March at 14.00 CET.


The webinar will build on the working breakfast organised at the European Parliament in June 2016 about the country-by country reporting proposal...

            Read more on our website



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FERMA Website



New name, wider appeal for Czech association 


The Czech risk management association has changed its name from ASPAR CZ to the Czech Risk Management Association, CZRMA, to welcome a broad spread of risk managers in addition to those specialising in insurance management. 


Read more here



Letter from Brussels

The European Commission's Economic Outlook 2017, published on 14 February, was unexpectedly positive with the European economy showing resilience in the face of numerous challenges and uncertainties, and all member states expected to see growth over the period of 2017 and 2018.


This projected upturn is the most positive in almost a decade, but although the forecast is clear, it is against a background of "higher than usual uncertainty".


Read more on our website




rimap: exam success in Denmark

In cooperation with Danish member association DARIM, nine risk managers went through the rimap® certification process on 25 January 2017. Once it had been confirmed that all of them met the rimap eligibility criteria, they took a two-hour examination, similar to the one delivered during the European Risk Seminar in Malta on October 2016.


Read more on our website


Expert views 

New tool kit need for cyber resilience and cyber risk governance


By Daniel Dobrygowski 


Business leaders today recognise that the profound reputational and existential nature of cyber risks means that responsibility for managing them sits with the board and top level executive teams. As the World Economic Forum stated in its 2017 Global Risk Report, we are facing a pressing governance challenge to construct the rules, norms, standards, incentives and institutions and other mechanisms needed to shape the development and deployment of the emerging technologies of the Fourth Industrial Revolution.


Read more on our website



President's Column

Looking ahead, I find it hard to predict what the world will look like even five years from now. Clearly, it will be increasingly complex, volatile and interconnected. In this turbulent world, education becomes a critical difference for professional risk managers.


Everyone has already accepted that silos are a barrier to success in a globalised environment. The risk manager will be the person who can give an overall and independent view of risk across the organisation. Such an independent view from someone close to decision makers is essential but has not been common enough, research since the financial crisis has shown.




European News


ERM approach argued for data protection officers 


FERMA has called for an ERM approach to be included in the Guidelines on Data Protection Officers (DPOs) in its comments to the Article 29 Working Party considering this aspect of the EU General Data Protection Regulation (GDPR). It sees parallels between the roles of the data protection officer and risk managers. 


                                                                                                                                                 Read more on our website



Risk management awards 2017 announced


FERMA and Commercial Risk Europe have announced that the second European Risk Management Awards will take place on 6 November 2017 in London. This follows the successful launch of the awards event in Brussels last year at a gala dinner attended by more than 250 senior members of the European risk and insurance management community.

The official launch of the European Risk Management Awards 2017 will commence in March when we announce the list of judges, categories and important dates.  


Read more on our website





European News

Adoption issues over country-by-country reporting


Published in April 2016, the European Commission proposal for public country-by-country reporting of results by large companies continues to face legal disagreements between the European Parliament and the Council of the EU, which represents the interests of the 28 member states. MEPs and member states disagree on the legal basis upon which the text should be adopted. MEPs, supported by the European Commission argue that the proposal is within the scope of European Competition policy as harmonising the conditions of the single market. This would mean an ordinary adoption procedure where the legislation is adopted jointly by Parliament and the Council.



European News

NFR guidelines: new stakeholder conference on 16 February


The Commission delayed publication of the Non-Financial Reporting (NFR) Guidelines, initially expected in December 2016. On 6 December, the Commission explained that it had to take account "recent international developments, including at G20 and FSB level [...] to consider as far as possible the work of the industry-led Task Force on climate-related financial disclosures established by the Financial Stability Board (FSB)".






FERMA a.i.s.b.l.




© Copyright 2016 FERMA. All Rights Reserved. No distribution or reproduction of this issue or any portion thereof is allowed without our written permission except by the recipient for internal use only within the recipient's own organisation.


This Newsletter is produced by FERMA. If you have any questions concerning this Newsletter, please contact Typhaine Beaupérin at FERMA on +32 2 761 94 31 - email: typhaine.beauperin@ferma.eu  


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