DVS 2013: “Community of trust leads to successful corporate risk culture”

Businesses must factor into their risk strategy a plan to develop and improve their corporate risk culture, said the insurance head of healthy and safety equipment specialist Dragerwerk AG & Co ahead of the DVS conference in Munich this week.

Risk should be seen as a “natural component of business” and “not as a weakness or mistake”, said Mathieas Kohl.

“Alongside operative challenges, such as improving transparency in the value chain, the strategic issue of developing a risk culture within the company is particularly important. How can I create an atmosphere where risk is considered a natural component of business and not as a weakness or mistake on the part of employees, managers or entire divisions?

“In my view, the modern risk manager is not only an expert in the field but, more importantly, a moderator, a motivator, and a mediator.”

Community of trust

Kohl adds that the direction must come from the top.

“Building up a community of trust is, for me, absolutely essential, as is a clear understanding throughout the company, including at management level, that the journey is the reward and that a corporate risk culture cannot simply be implemented at the touch of a button.

“Changes to philosophies and strategies are quick to formulate on paper, but the implementation of these changes takes time and organisation. Without the right tone from the top, you will find it difficult to make any progress with a suitable corporate risk culture.

“It’s comparable with a change of formation in football. These changes take time and you need to be able to accept potential setbacks, see these as opportunities and commit yourself to your convictions.”