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.
Education will allow risk managers to be recognised as risk experts. Our professional certification rimap® provides assurance for decision makers that there is a recognised European standard for risk management knowledge and skills that they can rely on. The rimap examination is only the start; there is always an evolution in the knowledge and skills that the risk manager needs to communicate with authority to decision makers.
The skills and competences of the next generation of risk leaders will have to be broader, with a more analytical mindset and a deeper understanding of digital and other technology. The digitalisation of the world and more specifically cyber risks are changing the risk landscape and risk governance, requiring the creation of cross-enterprise strategies. These will have profound impacts on the risk management profession. Continuous learning is, therefore, essential for risk managers to keep up to date and remain relevant, and the rimap programme recognises this with its requirement for CPD.
Education is close to my heart and my belief in the future of the profession. It is one of the themes for my term as President of FERMA, and one full day at the 2017 Risk Management Forum will be dedicated to education in recognition of its importance to us.