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Marsh Survey: Executives Expect More From Risk Managers

C-suite executives expect risk managers to better explain risks and solutions and become more involved and integrated in daily activities, according to a recent survey.

By Caroline McDonald | Updated on May 06, 2011

C-suite executives expect risk managers to better explain risks and solutions and become more involved and integrated in daily activities, according to a recent survey.

The survey, “Excellence In Risk Management VIII: Greater Expectations, Greater Opportunities,” released by Marsh at the Risk and Insurance Management Society’s annual conference here, finds that an overwhelming number of risk managers say senior management’s expectation of their department has grown over the past three years.

“The C-suite expects risk managers to jump into the fold,” says Brian C. Elowe, managing director, Marsh USA Inc., in Boston, Mass. He adds, “Don’t wait for an invitation.” For risk managers who are not members of the governance table, this is the time to seize the opportunity, he says.

Panel members at a press conference say that risk managers need to present data and other information in a way that is meaningful to their organization’s executives. Risk managers need to explain the risk and the solutions rather than submit pages and pages of data for review, they say.

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