BREAKING NEWS: Airmic to publish guide to achieving resilience in changing times

Airmic has consolidated the findings of four risk and governance reports into a guide that examines the changing risk landscape and its effects on the risk management function.

To be published this afternoon, The changing world of risk management, draws together fIndings from Airmic’s Roads to Resilience, its Financial Reporting Council implementation guide (published in MaY), the recent Tomorrow’s risk leadership (a joint Airmic and Tomorrow Company’s report) and Looking through the risk lens published by the Chartered Institute of Management Accountants (CIMA).

These reports cite globalisation, interconnected risks, technological advancement and a constantly evolving risk landscape as factors that have complicated and changed the risk role. Achieving business resilience is now harder than before.

The guide outlines the current state of risk management and forecasts how the function will evolve. It aims to provide risk managers with the tools to “elevate their practical skills” and help them lead the risk debate in their companies.

Speaking to StrategicRISK before the guide’s publication, Katie Moore, Airmic research and development manager, who was involved in producing the document, said: “The report takes a view on where risk management currently is in terms of resilience. The message was resoundingly clear: everyone is making moves to become more resilient, but few risk managers feel they have achieved this, so there is a lot of room for growth and improvement.

“The report will detail findings from a resilience survey that Airmic conducted in January 2014. It asked members to rate their business resilience and provide a rating for where they aim to be 12 months down the line.

“We took this feedback and the initial research done for Roads to Resilience to determine the key characteristic of each principle of resilience. We also detail examples of best practice.”

Tomorrow’s Company risk leadership report feeds into this guide to provide a definition of the roles and responsibilities of tomorrow’s risk leaders.

The new guide also provides advice on how risk managers can use CIMA’s business model to ensure risk management reaches every part of the business.