Learning the risk management ropes–France

“Globally, in the large corporations, the risk management function is taking a financial direction. Everybody has become more careful with the use of money as a consequence of the financial crisis and obviously finance is turning into a stronger concern in all areas, including risk management,” said Anne-Marie Fournier, a vice-president at AMRAE and Risk Manager at luxury goods group Kering. “It really makes sense therefore that our function reports to the treasury or the CFO of the company as we are using ever more financial tools like captive insurance and insurance cat bonds.” Ms Fournier continued: “Finance and insurance are increasingly related and prevention measures are large investments made by companies. It all comes down to choosing the right investment that a company wants to make.” A risk manager’s background can vary of course and today someone interested in entering the profession has a wide choice of both specialist risk education and more general business courses. But experience is also a big plus.hide“Risk managers can have a background in areas like finance, legal or have technical skills in the sector where the company operates,” said Marc de Pommereau, an AMRAE vice-president and Head of Insurance at GDF Suez Energy Services. “They also need to have enough experience and maturity to be fully appreciated by their co-workers. It is interesting to complement a risk manager’s formation education, at some point in the course of your career, by pursuing a specific training on risk management. The ARM courses offered by the AMRAE Formation, for example, are perfectly adapted to the different academic and professional backgrounds that a risk manager may possess.” “I come from an engineering background. But, in addition to my work as an engineer, I’ve also had experience with insurance,” said Michel Blanc, a member of AMRAE’s board and the risk manager at chemical multinational group ARKEMA. “Engineering is a good background for risk managers, but not the only one. There are many risk managers who have a legal background and it works well for them as well. “ “The best kind of education and training for risk managers depends on the responsibilities that they have,” remarked Sophie Mauvieux, a member of AMRAE’s Scientific Committee and Group Risk & Insurance Manager at IT security group GEMALTO. “If they focus on ERM, an operational background is needed…If they have to deal with insurance, a specific qualification in the field or previous professional experience in an insurance company or broker is a real plus.” Alain Ronot, a member of AMRAE’s board and Head of Insurance at Capgemini, the multinational technology and outsourcing consultancy, believes that his previous career as an insurance broker gives him an advantage in his current role. “My experience as a broker of large risks at an international level enables me to have a view of many of the problems related to the management and the treatment of risks, both in a traditional and non-traditional way,” he said. “It also helps me to identify what has been implemented and could be put in place in terms of prevention.” He added: “In the past, dealing with tenders launched by several clients helped me to understand the challenges faced by different companies. On a more practical level, while doing risk audits with clients, I’ve visited many sites, which enabled me to learn the issues that take place in different sectors.” It also helps to see the market from the point of view of the partners in the insurance sector, said Mr Ronot, who has worked at Gras Savoye Willis, AON, Marsh and Siaci Saint-Honoré. “When we see a business partner from the outside, there are things that we do not understand as a broker. So, as a client, I try to engage with our broker partners in a very direct and open way,” he said. “One must bear in mind that it is necessary to let the broker do its job correctly, and not to try and do it in its place.”

Learning the risk management ropes–France

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