By Blandine CORDIER-PALASSE, Revue RH&M n°75, p.44
In a globalised world where digital pressure competes with the fear of being disrupted, where the level of regulatory constraints (RGPD, prevention of corruption, duty of vigilance and identification of third parties, conflicts of interest, etc.) is increasing. Taking environmental, social and governance (ESG) issues into account is becoming essential. We can see that risk is at the heart of the transformation of society with the environmental, social and societal crisis.
Companies that want to prosper in the long term must therefore embrace risk at its roots, in all its meanings. The role of risk manager is expanding, with a very cross-functional scope of intervention and influence in support of the business.
1| A job as technical as it is human
It's a job that calls as much on project management, analytical and summarising skills as on people skills. In fact, a quick look at the main tasks of a risk manager shows that it requires a very complete, not to say complex, profile. The three main areas of activity are :
- Identify and map risks. Assessing and preventing them. Also financing their impact through insurance - or not, controlling and managing risks (acceptance, transfer, reduction or circumvention). Not forgetting the need to define the company's continuity after the shock.
- Act upstream by helping to spread a risk culture. And internally, communicating risks externally.
- Reporting, steering and monitoring risks.
It is becoming essential to take a global approach. Rather than a silo approach - to risk in order to coordinate its management and implement a policy. This aligns the interests of all parties in the interests of greater resilience.
Managers - who are always ultimately responsible - are increasingly opting for an expert. To assist them in this highly cross-functional role, where mathematical rigour combined with charismatic pedagogy will enable them to anticipate and prepare for the unforeseeable.
2| A rapidly evolving function that is moving up the career ladder
Companies are constantly confronted with risk. Whether in terms of liability or damage. So they are turning to new technologies to deal with them. This is why data science is becoming increasingly important to the performance and success of the risk manager function. While all companies now know how to collect data, they need to go further. They need to be able to analyse, map and evaluate it. Setting thresholds of acceptability, anticipating changes and estimating costs is also a real source of performance for the company.
In addition to the traditional financial, legal, fiscal, operational, fraud and environmental risks, there are an increasing variety of risks. These include risks related to cyber security, geopolitics and international regulations. CSR means integrating ESG issues into company management. It no longer allows us to ignore social and environmental risks, which have been extended to include the ecological energy transition? Particularly for large groups and SMEs. This explains why risk managers are moving up the corporate hierarchy (44% of risk managers report to the CEO and 31% to the CFO according to AMRAE). In addition, the subject of risk management is increasingly discussed by executive committees.
3| The risk manager helps to create value
The vision of risk management as a factor in value creation, rather than a brake on expansion, is widening the gap between forward-thinking companies and others. We see this divide among our customers when we discuss the position's positioning and scope. Some are convinced that the risk manager contributes to improving the company's performance, profitability, competitiveness and long-term viability. This contribution also serves to preserve the company's image and reputation. Others see the role only as a cost centre and a regulatory obligation.
4| Which profiles should you recruit to ensure that your risk manager is an agent of change?
An orchestral conductor, strong in law/finance and business, an engineer/geek with a talent for modelling and challenging risk models. The right profile also knows how to analyse, present and convince a Comex.
They combine common sense with rigour to develop standards that are adapted to the company's risks. The ideal risk manager also has the charisma to get everyone to adopt them. What's more, their ability to think in the long term means they can anticipate new risk issues. Legislative, regulatory and sectoral developments are bound to introduce new ones. Last but not least, he or she is also a thoughtful calculator who knows how to take carefully calculated risks, a whistle-blower, strategist and tactician with a strong sense of ethical leadership.
Finding these exceptionally well-rounded individuals is not easy, and ensuring that they have the skills and sectoral understanding to master the challenges of the business makes the search more complex. At the same time, making sure that the candidate fits in with the company's culture is fundamental to successful integration - and this is where using a headhunter who combines consultancy and recruitment brings all its value and makes all the difference.
In a function whose trajectory and positioning are growing rapidly, the competition for the best will only increase. Giving the recruitment of this complex position at the heart of the company the importance it deserves will prove, in the long term, to be a fundamental asset in developing a risk culture - pragmatic and effective - that creates value and is aligned with the company's strategy, meaning and social interest.
