Dancing to a different tune

Dancing to a different tune

Dancing to a different tune

A changing mindset is required of risk managers of the future as they have to adapt to a fast moving environment in which the challenges fly thick and fast. Relying on history for likely behaviours is not necessarily going to help in a world of political, economic and individual upheaval. Risk managers at the recent Institute of Risk Management South…

Risk management begins with an  understanding ‘risk appetite’ and ‘risk tolerance

Risk management begins with an understanding ‘risk appetite’ and ‘risk tolerance

Risk management begins with an  understanding ‘risk appetite’ and ‘risk tolerance

The recent Institute of Risk Management South Africa’ annual conference gave delegates an opportunity to engage with thought leaders, as Gareth Stokes reports Among the benefits of attending the 2017 IRMSA Annual Conference are opportunities to engage with thought leaders from the risk management profession. One example of this is the pioneering work on concepts such as ‘risk appetite’ and…

Leading risk associations to work towards mutual certification recognition

Leading risk associations to work towards mutual certification recognition

Leading risk associations to work towards mutual certification recognition

Five of the world biggest risk management associations – Ferma, Rims, Alarys, Parima and Irmsa – have signed a letter of intent to work towards mutual recognition of their respective risk management certification or designation programmes. The work will begin by seeking to ensure risk managers can secure continuous professional development (CPD) points for attending each of the association’s events.…

Energy-related risk manager group launches

Energy-related risk manager group launches

Energy-related risk manager group launches

A new group for oil, gas and renewable energy-related risk managers is being formed by the Institute of Risk Management (IRM). The initiative is launching with a LinkedIn survey, which is open until 2 October, polling the views and concerns of risk managers across the energy spectrum. Project leader Alex Larsen, CEO of Baldwin Global, explained that the survey is…

Risk managers warned they must remain relevant

Risk managers warned they must remain relevant

Risk managers warned they must remain relevant

Risk managers must keep pace with technical developments if they are to remain relevant to their business, warned a leading South African broker. Speaking at The Insurance Event 2017 in Sun City, Spiros Fatouros, CEO of Marsh South Africa, warned that risk managers themselves risk becoming outdated if they are not able to keep pace with the disruptive changes ahead.…

Risk managers must think the unthinkable

Risk managers must think the unthinkable

Risk managers must think the unthinkable

Risk managers should be thinking the unthinkable and should stop believing in black swans, delegates were told at a risk event in Cape Town. Chris Palm, chief risk adviser at the Institute of Risk Management South Africa (IRMSA), was speaking at the IRMSA Cruywagen Risk Lab in Cape Town, explaining that he struggled with the concept of black swans because…

Risk management pay surveyed for first time

Risk management pay surveyed for first time

Risk management pay surveyed for first time

South African risk managers enjoy increasing pay packages, with benefits, according to a first ever survey by the Institute of Risk Management South Africa (IRMSA). IRMSA commissioned 21st Century to conduct a customised remuneration and benefits survey for its members (individuals and organisations) within the risk management industry. “This survey, the first of its kind in South Africa for the…

Warning to manage risks, not just process them

Warning to manage risks, not just process them

Warning to manage risks, not just process them

Too often, chief risk officers focus on the process of risk management, rather than on managing risk, according to a leading South African risk manager. Totyelwa Nonco, risk management, technical support, at South Africa’s National Treasury, warned: “Often at times, when making reference to an efficient risk management, chief risk officers frequently direct their attention to how well the risk…

Lloyd’s head of innovation to speak in Botswana

Lloyd’s head of innovation to speak in Botswana

Lloyd’s head of innovation to speak in Botswana

Dr Trevor Maynard, head of innovation at Lloyd’s, is joining an international line-up of speakers at the Risk Frontiers Southern Africa – Understanding the New Normal one-day seminar on 6 July. He will be joined by speakers from across Africa, including Laurie Pieter-James from the Cyber Risk Institute; Nico Synman from the Global Transport and Asset Intelligence Bureau; and Dr…

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