Is “strategic risk management” just a new semantic spin in the profession’s ongoing evolution? Or does SRM represent a genuine leap beyond standard enterprise risk management?
At first blush I was skeptical, wondering whether risk managers were merely seeking a more highfalutin title to raise their stature and demand more compensation.
But after further consideration, I see the potential for legitimate professional growth if SRM puts risk managers in the room with senior management and the board of directors when a company’s course is determined, rather than being relegated to a supporting role and having to account for exposures after strategic decisions have already been made.
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