New Ferma president convinced certification key to unlocking risk management potential

Echoing comments made to Commercial Risk Europe before the forum, he also said that working closely with the European Commission on all matters involving risk management and insurance buying, as well as Ferma's 2016 benchmarking survey and seminar in Malta next year will be other key priorities. Ferma launched its certification scheme during its forum in Venice last week and awarded the first 'founder' risk manager certifications to risk professionals that have been involved in the development of the programme. It published further details of the programme, known as rimap, and invited risk managers to apply for certification from spring 2016. The first certifications are expected to be awarded at the Ferma seminar in Malta next October. Speaking at the closing of the Venice forum, Mr Willaert, who is also corporate risk manager for Agfa-Gevaert in Belgium, said: "Certification or rimap as I can now call it is the major project of Ferma. The certification programme has been embraced by the member associations and now also by the Pan Asian association Parima. We know that it is the answer to the existing needs of risk management education and recognition all over the world."hideHe said that rimap will establish risk management as a true profession with independent confirmation of practitioners' knowledge, experience and ethical standards. "It will give the world outside the risk management community-board members and senior managers and other professionals-an appreciation of the value that professional risk managers provide. And it will help us strengthen the academic foundations for risk management education and training," said the new Ferma president. Speaking to CRE prior to the Ferma forum, Mr Willaert stressed that launching certification is an achievement but said that Ferma now needs to ensure it works in practice. "We are at the start of the certification journey and now we have to prepare for the first examinations and ensure the programme is a success. So certification is a priority for my first year [as president] and beyond," he explained. Speaking on stage in Venice last Wednesday the risk manager said that placing Ferma at the heart of European decision-making on insurance and risk management legislation will be a big focus of his presidency. Lobbying the key European institutions will be a big priority for the incoming Ferma president. "We will ensure that we articulate our arguments with the Commission president Jean-Claude Juncker and the Commission directorates in relation to the regulations that are relevant to risk managers and risk management. We want Ferma to be at the heart of European decision making on insurance and risk management legislation," he told the audience. Mr Willaert also paid tribute to Julia Graham, his predecessor as Ferma president. He said Ms Graham did 'a fabulous job' to bring Ferma's message to 'all the corners of the world'. He said she was a true ambassador for Ferma and risk management. "I am delighted that she was a mentor during my deputy presidency period and I am convinced she will continue to play this role during the remainder of her term on the Ferma board. We wish her great success in her new job as technical director of Airmic," said Mr Willaert. Speaking to CRE prior to the forum, the Belgian said he is convinced that risk management is on the rise and will become a key business function, but said there is much to do before it assumes its rightful position. "I am convinced that risk management is in the spotlight and will become more and more important. The regulators and lawmakers are increasingly paying attention to risk management. In annual company reports we see you now have to detail your risk management efforts, for example. Risk management is certainly growing in importance and I am very confident that the function of risk management will also grow in the management game and become one of the key functions in the senior activities of the company," Mr Willaert said in an interview. However, Mr Willaert believes that outside of the financial services world, risk management suffers from a lack of recognition. This is primarily caused by poor definition of the function's role and lack of understanding over the benefits it can bring, he continued. He made it clear that the profession faces a battle to overcome this hurdle. "A risk manager should be considered as important as the other key functions in the company. On paper this is probably the case but in the real world very often is not the case. A risk manager should be close to the board and the trusted adviser to the board on risk management, which again today is not always the case. There is a lot of work to do to ensure we as a profession can boost our standing and influence," he said. "Because we cannot clearly define what the function of risk management is, there is a lack of understanding over the role of risk as a consequence. This is something that we as an industry need to work hard on and is why certification is so important to me," he added. The Belgian was quick to point out that his presidency will follow a collegiate approach and, rather than rip up the rule book, offer continuity with the action plan approved by Ferma's executive committee under former president Julia Graham. This includes focus on issues such as Solvency II, the Environmental Liability Directive (ELD) and data protection rules. Mr Willaert stressed that he has some initial thoughts on where Ferma should be heading over the next two years, but wants to encourage input from colleagues and members. One of his first tasks as Ferma president will be to speak with colleagues on the federation's executive committee to get their ideas about what the organisation should concentrate on. "So as well as my current priorities there will be other concerns that will come from my colleagues on the executive committee," said Mr Willaert. He also explained that his presidency will deliver continuity on the many pressing issues that Ferma has already agreed to focus upon. "Within Ferma we already have a list of strategic actions that have been approved under the presidency of Julia Graham. For example Solvency II, the ELD and cyber data protection rules," said Mr Willaert. "There are a lot of targets that are already on the list. I certainly do not want to break the mould and ask the board for new targets. So I will work out with the executive committee what the priorities are on the list. So one of my targets is continuity because many of the issues are ongoing." The success of Mr Willaert's presidency will be built around the 'excellent' Ferma team and a spirit of cooperation, he said. "We have a very good team at Ferma. I am supported by great people-they are very enthusiastic, loyal and professional. It is a small team but it is strong. So I won't be doing things alone and will have the staff in Brussels to rely upon. So it will be a successful period I think," said the incoming Ferma president. Mr Willaert believes his 40 years of experience in the risk management and insurance industry, including 25 years as a broker, will stand him in good stead as Ferma president and allow him to add value. "I want to use my experience, including 15 years as a risk manager, for the good of Ferma. From my experience as a broker I like compromise and diplomacy. As a broker you have to be able to bring people together and find solutions with people that don't necessarily have the same ideas. I like that kind of work, which I think lends itself to the role of Ferma president," Mr Willaert told CRE. "I also like dealing with a variety of cultures. So I think I can bring an added value to Ferma, which is why I took on the role," he continued. In conclusion Mr Willaert said: "All Ferma presidents have put their own footprint on the presidency because of their strong identity. I think my identity is quite different, as is my background. That is why the two-year presidency is important and gives Ferma the opportunity to reinvent itself without losing its focus and its strategy."

New Ferma president convinced certification key to unlocking risk management potential

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