Risk managers need to find solutions not problems–Belgium

The response in Belgium was much the same as elsewhere in Europe and indeed around the world: The risk manager needs to be a jack of all trades and master of some. It helps to be a specialist in core areas such as the law, the language of insurance and finance. But, above all, he or she needs to understand their organisation, how it really works, who are the key movers and shakers and be able to communicate effectively with everyone, from top to bottom. Gaëtan Lefèvre, President of Belrim, Member of the Scientific Committee at Ferma and Risk and Insurance Manager with engineering firm CMI, summed it up neatly as he said: “The perfect risk manager does not exist because they would need skills in economics, the law, engineering and many other areas.” Mr Lefèvre said that it is important to have knowledge of different areas to understand the business correctly and to use the right language when discussing and implementing risk management. For example, said the Belrim president, when the risk manager talks to an insurance company he or she has to understand insurance language.hide“Yes, a fundamental risk management training is important but above all the individual risk manager needs experience of different topics and sectors. To employ a risk manager direct from college is probably not the best route as risk managers need experience and maturity, like a good wine!” he explained. Malou Gossez, Group Risk Manager with AGCS Glass Europe, fully agreed with Mr Lefèvre. She said that it is only experience that allows a risk manager to build different skills and be able to talk to the plant manager or the individual who organises contracts in the company and, above all, find solutions. The risk manager also needs experience to negotiate the right insurance coverage with the insurance market, she added. Carl Leeman, Chief Risk Officer with logistics company Katoen Natie, agreed that experience is more important than formal training for a risk manager. “You need a couple of skills which are important as a basis but experience is the key. Good decisions are made by experience and you only attain that by making bad decisions in the past and learning from that. You do need communication skills and you need to be a team leader. You have to be open to learning and need to be both a generalist and specialist. You need specific skills and also a very broad knowledge, because if you are too focused on one area then you are too limited,” he said. Sabine Desantoine, Insurable Risks Manager at ING Belgium, said that, generally speaking, a good risk and insurance manager has to bring solutions and not problems to their company. This is clearly a very important attribute or mindset for a risk manager who really does not want to be labeled as ‘Doctor No’ within the organisation. But where do you find such people in a business world where skilled and experienced operators are thin on the ground and in high demand from all sectors? Mr Leeman said that the simple answer is you have to train them. Johan Willaert, Vice President of Ferma and Corporate Risk Manager for Agfa-Gevaert, agreed with Ms Desantoine that when in search of fresh risk management talent it is critical to target individuals who are focus-minded and use their skills to find solutions and not create problems. They also have to be good at listening. “They have to be good at communication and giving advice. The basic training does not really matter, they can be a lawyer or engineer but they have to be good at communication. A good risk manager listens for 90% of the time and talks for 10% of the time. You have to be able to recognise that there is no ultimate right or wrong but the best available solutions. Can you find such people easily? No, they are rare. It can depend upon the culture of the company. If it values training and skills development that helps,” he said. Mr Leeman conceded that it is difficult to find such people. But he also added that it is easy to be fooled into thinking that there is a big demand for risk managers. This is because there are not actually that many companies in Belgium that have a formal risk management role, he said. “If one of us loses their job it can be difficult to find another job,” said Mr Leeman. Mr Willaert pointed out that this is the reason why so many risk managers cross to the ‘dark side’ and become loss adjusters, brokers or insurers when they lose their jobs.

Risk managers need to find solutions not problems–Belgium

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