Global survey also highlights issues which could impact the success of strategic risk management initiatives
Active Risk (formerly Strategic Thought Group), author of award winning Enterprise Risk Management software Active Risk Manager (ARM) conducted a major survey of risk professionals in mid-2011. Phase One analysis, based on over 250 completed responses from around the globe, has shown some surprising results and provides important advice for organizations implementing enterprise-wide risk programmes.
As demands placed on Risk Professionals increase and evolve, this new research has given a valuable insight into the types of individuals organisations need in their risk team to produce the best chance of meeting corporate and project risk objectives. The research also provided an understanding to the training and development required to grow and retain Risk Professionals; strategies to improve the effectiveness of communications between Risk Managers and other departments such as Sales, Finance, Contracts and Projects and the actions necessary to reduce stresses on the risk team.
Risk Professionals completed an online psychometric survey based on the well-established DISC profiling methodology and received a confidential personalized profile report in return. The cumulative results were used to identify the main personality types active in the profession. Three groups emerged. The largest percentage (60%) represented ‘Technicians’ with the characteristics for accuracy and logical action traditionally associated with Risk Managers. More surprisingly over 30% of those who responded to the survey emerged as ‘Evangelists’ who are optimistic and inspiring leaders. This new breed of risk manager could prove instrumental when imbedding a corporate risk culture. Finally, just under 10% of risk professionals who took part in the survey were ‘Drivers’ with determined personalities more usually associated with sales professionals.
Peter Robertshaw, SVP Global Marketing at Active Risk and co-author of the research report said, “The fact that Risk Managers and risk teams are an increasingly diverse group has major implications for organizations at a time when risk is getting board attention. Businesses need to assign the right individuals to perform the different tasks inherent in corporate risk programmes and to provide training to improve their effectiveness in communicating across the business. If this is not understood organizations are less likely to succeed in embedding a risk culture and the information collected for strategic decision making could be compromised.”
The Phase One research results have been published in a summary report which includes a range of practical advice. Further white papers which focus on improving communications between Risk Managers, senior management and other job roles will be released in the coming weeks. The survey remains open and Risk Professionals are encouraged to take part. Phase Two will focus on identifying any regional and reporting line differences with results delivered in mid-October and presented at the IRM Risk Leaders Conference in London in November.
To participate in the confidential survey and to download the Phase One summary report, go to www.activerisk.com/risksurvey.
About the DISC methodology
DISC methodology is well established and is widely used by organizations, HR professionals, consultants and coaches to assess personality types. This information is often used to analyze and build effective teams. DISC is a quadrant model which classifies individuals on two axes – Proactive/Reactive (vertical axis) and Introverts/Extroverts (horizontal axis) – and determines the order of significance in which each of the four resulting personality quadrants applies. To analyze the data collected, Active Risk worked with an independent psychologist who is an expert in the DISC profiling methodology and has extensive experience of the requirements needed to effect cultural change and to improve organizational communication.
About Active Risk
Active Risk (formerly Strategic Thought Group)* (AIM:STR) addresses enterprise-wide risk management (ERM) and governance, risk and compliance (GRC) requirements with advanced software and services that can be implemented across organizations in all industry sectors.
Active Risk Manager (ARM) is recognized as having the most extensive range of ERM software capabilities available today. ARM enables the identification, communication, analysis and mitigation of risks and opportunities available in both quantitative and qualitative formats. It covers project and portfolio risk, supply chain risk management, business continuity, controls management, reputational risk, health and safety, incident management, governance, compliance risks and more.
Active Risk has main offices in the UK and USA and services customers worldwide directly and through a growing network of partners.
For further information and a detailed view of Active Risk's products and services visit www.activerisk.com or call +44 (0)1628 582500 (EMEA/Asia Pacific) or +1 703 673 9580 (Americas).
Press contact: Mary Phillips/Andreina West, PR Artistry Limited
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