The 2018 FERMA European Risk Manager survey reveals significant evolution in the role of the European risk manager today. A report of the survey, conducted in partnership with PwC France and Francophone Africa, was announced in a webinar today. It draws on the views of 734 risk managers in 29 countries.
· 76% of risk managers assess risks that could affect the relevance and viability of the organisation’s strategy and objectives.
· Nearly 70% of risk managers act as risk conductors, consolidating information from other risk-related functions to give a clear and comprehensive view to top management.
· Strategic activities such as governance, risk culture and risk appetite are increasingly part of the mission of the risk manager.
· There is a strengthened connection with IT and information security, which is significant as cyber risks are ranked as the number one threat to future growth.
· 86% are responsible for developing risk maps, risk identification, analysis, evaluation, prioritisation and reporting.
· Risk managers are increasingly using new technologies to be more predictive and proactive.
· Insurance management practices are largely stable, but insurance managers are considering strategies for the possibility of a harder market.
This is the ninth European Risk Manager Survey. It has taken place every other year since 2002, and it provides a unique insight into the views and the roles of risk managers across Europe. This year, FERMA and PwC France and Francophone Africa changed the emphasis slightly to explore better the work of risk managers in supporting the success and sustainability of their organisations.
FERMA President Jo Willaert said: “We believe that demands for sustainability, good corporate conduct and rapid digitalisation are leading to profound changes in organisations. This survey shows that the role of the risk manager is evolving to meet these changes. He or she has never been better equipped to be a co-pilot for the board and top management in this transformation.”
To enhance the value of the survey results for national associations and their members, FERMA and PwC France and Francophone Africa have also broken down the analysis by country or regional group. FERMA survey leader, Charlotte Hedemark Hancke, explained: “The country profiles highlight national specificities in comparison to the European results. FERMA, therefore, has put back at the centre of the Risk Management Survey what it is that makes this project unique: local results in a European context.”
Françoise Bergé, Partner Risk Assurance and Advisory Services, PwC France: “Risk managers play their role when collaborating with other functions within the organisation to provide comprehensive analysis of the risks to the top management and the board. This report helps to understand the current responsibilities and challenge of the European risk managers and to identify emerging good practices”
The 2018 European Risk Manager Report will be available on
15 December 2018 with following link: