Digital literacy, creative mindset and influencing skills are key for risk managers

Managing risk has growing importance as a strategic enabler, and risk professionals who combine digital literacy with a creative mindset and strong influencing skills are likely to be best positioned to succeed as valued strategic business partners.

This is according to the Annual Member Salary and Status Survey 2021 released by UK risk association Airmic on the first day of its annual conference. The survey provides a picture of the current profile and future of the profession.

Other key findings include an increase in those who have joint responsibility for managing risk and insurance, which indicates that the Airmic objective to drive the integration of managing risk and insurance is moving in a positive direction.

The talent pipeline of younger risk professionals is more likely to be female, although diversity in the profession remains a “work in progress”. The potential value of mentoring is expected to increase as it helps to fulfil a need for professional and emotional connection in a hybrid or remote working environment.

Airmic members are loyal to their organisations, with more than half having worked for their current organisation for more than six years. However, Airmic highlighted that people policies and practices must be updated to reflect the new world – loyalty cannot be taken for granted.

Claire Combes (pictured), chair, Airmic, commented: “The pandemic has seen risk professionals prove their worth to organisations. Leading in risk, providing timely information to support the decision making of top management and peers, with agility and adaptability, the professional bar has been raised.”

Julia Graham, CEO, Airmic, added: “The report provides important information and indicators about the profile of the profession we serve and what matters to them the most. Airmic recognises that we have to improve our approach to ESG, and especially diversity. Airmic must also keep up with the velocity of change our members are experiencing, which points to a greater investment in our digital capability.”

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