Remaining buoyant (TT Mar09 p38-39)

The recession represents an opportunity and a threat in equal measure for anyone involved in risk management. While the downturn allows an even sharper argument to be made for the ability of enterprise risk management (ERM) to help companies remain buoyant when the going gets tough, the pressure on costs may persuade firms to save money by downsizing their risk management investment. It is essential that everyone involved in risk management should be able to demonstrate and communicate the value of their role.