FERMA Blog

FERMA European Risk Management Certification goes live online

The Federation of European Risk Management Associations announced that its European Certification programme is now live online. The first online examinations will start in September.

Says FERMA President Jo Willaert, “This is a major step forward in giving access to FERMA Certification to risk professionals throughout Europe. Application, registration, all educational materials and examinations are now open to any qualified risk professional through the internet.

FERMA Certification is the only European professional designation for risk managers. Developed by FERMA and its 22 national associations, it provides independent confirmation of the professional competences, experience and standards of individual risk managers. Certification rests on four pillars: knowledge, experience, continuous professional development (CPD) and a code of ethics. These four pillars ensure that knowledge is joined to experience and professional ethics.

FERMA will remain responsible for the content and approval of the candidates. FERMA’s partner, an established supplier of online insurance and risk management education ANZIIF, is providing the platform and will schedule examinations online every month from September.

Says Jo, “We are very excited about this step for Certification and its value in the continuing development of the risk management profession in Europe. The process is easy and candidates have direct access to the materials to prepare for the exam. Some of our members’ countries will also organise a physical training programme for candidates.

Click above for registration information

Interested risk professionals can find all necessary information about the FERMA rimap certification and register at http://bit.ly/2bK9fnA  

Current examination dates are scheduled as follows: 

Exam Dates
Thursday 21 September ’17
Sunday 15 October ’17
Thursday 23 November ’17
Thursday 14 December ’17

 

 Notes to journalists

 FERMA and its member associations launched the FERMA rimap Certification in October 2015. The first 18 successful candidates received their Certificates at the FERMA Seminar in Malta in September 2016. Since then, seven other candidates from Danish Risk Management association DARIM have qualified through a paper-based examination in Copenhagen on 25 January.

The exam is based on the Body of Knowledge developed by FERMA and its 22 members.

Media Contacts

Lee Coppack

FERMA media coordinator, +44 (0) 7843 089904 and +44 (0) 208 318 0330, lee@coppack.co.uk

Typhaine Beaupérin

CEO FERMA, +32 (2) 761 94 31, typhaine.beauperin@ferma.eu


FERMA Network Booklet 2017

2017 Facts and Figures about the risk management associations

FERMA Network Booklet 2017-PDF version

 

 


Elections to FERMA board, new term for Jo Willaert

The general assembly of the Federation of European Risk Management Associations has chosen six board members and confirmed Jo Willaert as President for an additional two-year term. The meeting took place in Brussels on Friday (30 June).

The board members elected and their national associations are:

  • Philippe Cotelle (AMRAE- France)
  • Helle Friberg (DARIM- Denmark)
  • Tapio Huovinen (FinnRima – Finland)
  • Gaëtan Lefèvre (BELRIM- Belgium)
  • Xavier Mutzig (Airmic – UK)
  • Laurent Nihoul (ALRiM – Luxembourg)

Jo Willaert said: “I am honoured to be asked by my colleagues to serve another term as president of FERMA. We have an unusual number of new board members this year. They bring remarkable experience and expertise to the board that will support FERMA as we develop our work on key issues such as cyber risks, captives and BEPS, environmental liability, Brexit and the future of the EU. They will contribute to risk leadership in Europe.”

 

Philippe Cotelle is Head of Insurance and Risk Management of Airbus Defence & Space. He has engineering and MBA degrees and was a senior space underwriter for the French reinsurer SCOR for four years before coming a risk manager. Philippe was a member of the joint FERMA working group with the European Confederation of Institutes of Internal Auditing (ECIIA) that has just published framework proposals on cyber risk governance.

Helle Friberg is Group Insurance Manager for Danish paint manufacturer, Hempel. She is responsible for the group’s global insurance programme and developed and introduced enterprise risk management within Hempel Group. She has been a member of the FERMA board for six years.

 Tapio Huovinen is President of the Finnish risk management association FinnRima. He is Director of Risk Management for the forest products group, UPM-Kymme Corporation. Tapio started his career in insurance, but soon moved into risk management. He holds engineering and MBA degrees.
Gaëtan Lefèvre is immediate past president of the Belgian risk management association BELRIM. He is the Risk, Insurance and Professional Ethics Manager for CMI Group. He trained as a mining engineer before joining the insurance industry, and then became a risk manager.
Xavier Mutzig is Group Insurance Manager for Johnson Matthey, an FTSE 100 company, where he leads the insurable risk management function worldwide. He has a background in French and English law followed by almost 25 years in the corporate risk and insurance industry. Xavier is an Airmic board member and chairman of its marketing and membership committee.

Laurent Nihoul is General Manager Corporate Risk and Insurance for ArcelorMittal, based in Luxembourg. His department is responsible for arranging global corporate insurance programmes for the group’s entities worldwide. He holds a master’s degree in finance and insurance, and has worked in various aspects of (re)insurance, including captives. Laurent is a board member of ALRiM with responsibility for (re) insurance topics.

Philippe Cotelle, Helle Friberg, Tapio Huovinen, Gaëtan Lefèvre and Laurent Nihoul are FERMA rimap certified.

The full board of FERMA is now Jo Willaert (President), Dirk Wegener (Vice President), Philippe Cotelle, Anders Esbjörnsson, Helle Friberg, Charlotte Hedemark Nielsen, Tapio Huovinen, Gaëtan Lefèvre, Maria Isabel Martinez Torre-Enciso, Ralph Mulder, Xavier Mutzig and Laurent Nihoul.

Full list of FERMA Board members: http://www.ferma.eu/about/who-is-who/board-of-directors/

Link to FERMA General Assembly 2017 photo album: https://www.flickr.com/gp/136687111@N04/7n95x9


Exclusive FERMA ECIIA Cyber Risk Governance report available

Click above to read the report!

Joint FERMA/ ECIIA Conference
At the junction of corporate governance and cyber security
29 June 2017 from 16:15 to 18:45
European Parliament, Room JAN 6Q1, Brussels

Kindly hosted by MEP Antanas GUOGA

Conference report

A joint working group, representing risk managers and internal auditors from 8 EU countries and  6 different economic sectors (bank, transport, defense, IT, food services and telecom) has developed recommendations for organizations on innovative ways to internally organize the management of cyber risks.

These recommendations include a cyber risk governance model between the key internal stakeholders and the Risk and Audit Committees.

The proposed model will increase cyber-resilience, define the key stakeholders and the conditions for success. Developing cyber governance principles for greater resilience is supported by the World Economic Forum, which published a report in January 2017: « Advancing Cyber Resilience: Principles and Tools for Boards ».

 

Click above to read the agenda and biographies of the speakers

 

 

 

 

The aim of the conference is to present and discuss the proposed report and respond to the following fundamental question: is there a governance model that would support the resilience of the European economy in terms of effective and efficient risk management and compliance?

Although companies must remain free to organize the way they manage risk, aware that there is no « one size fits all » solution, whatever the approach taken, it is essential to embed cyber security throughout the organization from the top to the operational level.

Corporate Governance and Cybersecurity Event at European Parliament 29 June 2017

Media Contacts

Lee Coppack

FERMA media coordinator, +44 (0) 7843 089904 and +44 (0) 208 318 0330, lee@coppack.co.uk

Typhaine Beaupérin

CEO FERMA, +32 (2) 761 94 31, typhaine.beauperin@ferma.eu

 


FERMA publishes guidelines for BEPS on captive (re)insurance arrangements

On 20 June, FERMA has released proposed guidelines for captive (re)insurance arrangements in order to ensure a consistent implementation of the OECD recommendations on Base Erosion and Profit Shifting (BEPS).

Click above to read the document

 

The guidelines are meant to support national administrations when transposing BEPS actions into their national laws. They cover three areas which raised certain questions of interpretation by the OECD members during the implementation stage of the BEPS actions published in 2015: commercial rationale, substance and governance, and transfer pricing – premium setting process.

Jo Willaert, President of FERMA

FERMA’s aim in publishing this information report is to allow OECD members to assess, in a consistent manner, the compliance of captive (re)insurance arrangements with the BEPS recommendations. The report draws on contributions from all its 22 member associations. It explains the concept of captive (re)insurance companies, and for the first time, presents compiled data on premiums, profitability and taxation levels from a sample of 462 captives owned by European resident multinational companies.

The President of FERMA Jo Willaert says, The objective of such guidelines is mainly to avoid creating a patchwork of diverging national legislations inspired by BEPS. Captives serve an important Enterprise Risk Management role with true business purposes for European businesses and other organisations. Although captives are only a very small portion of BEPS, FERMA believes that national authorities should be guided in how to assess captive arrangements according to BEPS recommendations.

Carl Leeman - IFRIMA President

Carl Leeman, FERMA Board member and leader of the captive project group

 “Our document demonstrates that the main financial ratios of the captive insurance industry are in line with the traditional insurance market,” Carl Leeman, leader of the captive project group and a FERMA Board member, stresses. “The paper, enriched and approved by our 22 national associations, represents a strong consensus within the European risk management community on how captives are supporting the operations of their parent organisations.

This report is the first of its type. Although its data comes from European companies, it has global application because the BEPS recommendations are being adopted by many jurisdictions around the world. FERMA, therefore, presented the report to the International Federation of Insurance and Risk Management Associations (IFRIMA).

FERMA also discussed the paper in early June with the tax department of the OECD in the context of the upcoming Public Discussion Draft on Financial Transactions and Transfer Pricing expected this summer.

Press contacts

Typhaine Beaupérin, FERMA CEO: typhaine.beauperin@ferma.eu, tel: +32 (2) 761 94 31

Lee Coppack, press contact: lee@coppack.co.uk, tel: +44 208 318 0330/ +44 7843 089904


FERMA Newsletter 77 – all articles

 


European Affairs: FERMA meeting with MEP rapporteur on latest ELD report

The latest report on the Environmental Liability Directive (ELD) will be considered during a session of the Legal Affairs Committee on 19/20 June with a vote scheduled early September. FERMA will suggest possible amendments to the current text to refocus on the initial purpose of the ELD –i.e. to prevent and reduce the number of environmental damages.

On Tuesday 30 May, FERMA met with the office of Laura Ferrara, the Italian Member of the European Parliament in charge of this report published on 8 May. FERMA appreciates the emphasis in the report on promoting a culture of prevention and risk management with possible tax incentives for the companies engaging in risk management and prevention. The report contains, however, several areas of concern for risk managers. Among them are a possible extension of the scope of ELD damages to air or electromagnetic pollution and rewording to the definition of environmental damage to make it more consistent with the rapid evolution of industrial pollutants.

A recommendation for mandatory financial security remains in this report, despite an acknowledgement that the insurance industry offers good capacity. FERMA has not changed its position that this is not necessary or desirable.

In line with our intervention during the public hearing on ELD at the European Parliament on 11 April, we will emphasise the need to preserve the capacity of European organisations to invest so they can modernise the industrial tools of the European economy.

Business organisations raise concerns over country by country reporting proposal

Business organisations including ecoDa, Eurochambres and European Issuers have written to MEPs to raise concerns over the provisions of public country-by-country reporting. MEPs of the Committees on Legal Affairs and on Economic & Monetary Affairs were expected to vote on the report on 30 May 2017. Business argues that making country-by-country reporting public for every company operating in the EU would constitute a clear disadvantage for the European Union as an investment destination.

http://www.europeanissuers.eu/positions/files/view/592c19e34636d-en

 


Letter from Brussels

Europe in transition

Two months ago, we said that the EU was at a political, economic, social and emotional turning point. We saw converging trends for less Europe. Events since then, paradoxically, have helped Europeans to rediscover themselves and could be the trigger to revive the European project and economy.

Clearly, we are still in a period of transition:

  • Political choices and decisions in some countries are reshuffling the cards of the international arena. Pro-European centrist reformer Emmanuel Macron won the French presidency over far-right protectionist rival Marine Le Pen in early May. We await the upcoming elections in the UK, Austria, Italy and Germany.
  • US President Trump pulled the US out of the 2015 Paris Agreement on climate change – to a consistently negative reaction in Europe but an uncertain impact.
  • China has pivoted towards Europe and its commitment to international cooperation in trade, and the fight against climate change.
  • The massive ransomware campaign, WannaCry, caused havoc when it hit public and private sector organisations in many parts of the world, stressing again our dependence on technology and vulnerability.
  • The surge of terrorism in Europe since 2014, with attacks in Belgium, France, German, Italy and mostly recently the UK, has emphasised the need for European cooperation on security.

The EU has engaged into a debate on its future model, scope and priorities. The debate started with the publication of a White Paper on the Future of Europe and will end by the time of the European Parliament elections in June 2019.

In this White Paper, the European Commission proposes five scenarios for the Union’s evolution depending on the choices Europe makes: “carrying on”, “nothing but the Single market”, “those who want more do more”, “doing less more efficiently” and “doing much more together”. Three topic-related reflection papers are also under discussion: the social dimension of Europe, harnessing globalisation and deepening of the economic and monetary union.

“We Europeans must really take our fate into own hands… We must fight for our future on our own, for our destiny as Europeans,” said Angela Merkel after the G7 and NATO Summits.

The success of Europe will depend on its ability to navigate the waves of change.

Typhaine Beaupérin

 

 

 

 

 

 

 

 

 

 

 

 

 


Jo Willaert elected President of IFRIMA

Jo Willaert, the President of FERMA, has been elected President of the International Federation of Risk Management Associations (IFRIMA) for a term of two years.  During his presidency, Jo plans to focus on strengthening dialogue and cooperation among risk management associations worldwide to increase coherence in the work of risk management around the world.

IFRIMA has also admitted the merged German risk management association GVNW, as a new member. This brings IFRIMA membership to a total of a total of 21 risk management associations worldwide.

IFRIMA directors 2017:http://www.ifrima.org

 

 

 

 

 

 

 

 

 

 

 


Closing date for European Risk Management Awards draws near

The deadline for entries into this year’s European Risk Management Awards, hosted by FERMA and Commercial Risk Europe, is fast approaching. Nominations, which must come from FERMA member associations, are due by 28 July.

The 2017 awards follow the successful launch event last year and will once again reward excellence in risk and insurance management, as well as best-in-class performance from key service providers. They will conclude in an awards ceremony and gala dinner in London on 6 November.

Categories:

  • European Risk Manager of the Year
  • Lifetime Achievement
  • Innovative Insurance Programme
  • Rising Star

For more information contact

Véronique De Hertogh: veronique.dehertogh@ferma.eu or see HERE