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Risk Managers Must Remain 'Visible To Survive!

For risk managers to keep their jobs in this difficult economy, they must remain “highly visible” by making sure their senior management and board members ...

By Staff Writer | Updated on May 03, 2010
invisible-manFor risk managers to keep their jobs in this difficult economy, they must remain “highly visible” by making sure their senior management and board members appreciate the bottom-line savings that loss control, safety programs and alternative risk-transfer efforts produce. 

That’s the advice that was offered in Boston last week at the Risk and Insurance Management Society’s annual conference by Bill Perry, president of Logic Associates, who partnered once again with NU to produce a survey checking out risk manager compensation, duties, job satisfaction and other key factors. (To read more about the survey results, click http://bit.ly/aPrRCd and http://bit.ly/9dmPhk.)

“Risk managers need to stand up and take credit for all they are doing by quantifying their bottom-line contributions,” said Mr. Perry, in analyzing the results of the “2010 Risk Management Compensation Survey.” “Hard numbers that put risk management in a very positive light will give companies pause before cutting into their departments.”

When push comes to shove, he added, “not much has changed in terms of how you keep your job as a risk manager. You not only have to perform, but you have to show everyone above you that you are performing. It’s like the tree falling in the forest—if no one is there to witness what you are saving the organization, it’s like it never happened.”

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