A global pandemic, increased geopolitical risk, conflict, bushfires, Brexit, flooding and political unrest – the Institute of Risk Management asks its senior members from our Special/Regional Interest Groups (SIGs/RIGs) and Global Ambassadors about their views on the outlook for risk management in 2021. Iain Wright CFIRM, Chair, Institute of Risk Management
2021 has got off to a difficult, but not entirely unexpected, start. Many countries are sadly (but necessarily) back into lockdown measures due to the pandemic, but with the vaccine rollout under way we hope for a light at the end of the proverbial tunnel. The world has changed as we know it. Organisations have had to adapt to survive and ways of working are more reliant on technology than ever as many staff work from home. Organisations are facing increased and increasing risks from both internal and external factors that have undoubtedly been exacerbated by Covid-19, including: people risk (mental health, wellbeing, physical health of staff), increased cyber-attacks, supply chain disruption and ongoing market confidence/volatility across sectors, which is exacerbated by geopolitical volatility in some areas. In the UK the post-Brexit landscape has changed how people and goods move between the UK and mainland Europe. This will undoubtedly be keeping those of you dealing with supply chains busy as you navigate the new ways of working and ensure business continuation. The IRM has set up SIGs for both Brexit and pandemic risk, details of which can be found on our website. I think it’s fair to say that risk professionals have never been so busy and pivotal to the survival of organisations of all types globally; risk management has been at the heart of the global response and our profession is firmly in the spotlight. Risk managers’ competence and resilience have been tested like never before and lessons have undoubtedly been learnt. We’ll be releasing the findings of a follow up to our survey of the global risk management response to the pandemic shortly. *Please note the view expressed below reflect the individuals rather than their company views. This year’s views focus on: > Charities and the Third Sector
> Health and Care
> Climate Change
> Innovation
> Construction/infrastructure > Energy and Renewables
> Non-Executive Directors/Chief Risk Officers (NED/CROs)
> ERM in Insurance
> Nuclear
> Financial Services
> Operational Risk
World view: > APAC
> South Africa
> India
> Spain/Latin America
> Iraq
> United States of America
> Kingdoms of Saudi Arabia and Bahrain
> Zimbabwe
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