Draft:Financial Risk Manager

Risk Managers Adapt to Remote Work as Productivity and Stress Loom as Key Concerns

Retrieved on: 
Wednesday, July 1, 2020
Insurance, Infectious diseases, Human resources, Finance, Consulting, Banking, Professional services, Small business, Health, Other Professional Services, Actuarial science, Articles, Academic disciplines, Risk, Financial risk management, Computer security, Draft:Financial Risk Manager, Professional Risk Managers' International Association

GARP surveyed 250 certified Financial Risk Managers (FRM) to understand the effect the COVID-19 pandemic and remote work have had on both companies and risk professionals.

Key Points: 
  • GARP surveyed 250 certified Financial Risk Managers (FRM) to understand the effect the COVID-19 pandemic and remote work have had on both companies and risk professionals.
  • Unsurprisingly, most (87%) risk professionals around the world are working remotely compared with only 2% prior to COVID-19.
  • Risk management functions and processes have experienced little drop-off; respondents were generally positive about their firms business continuity, communications, and ongoing risk management operations.
  • Companies with 100 or fewer employees faced the largest increase in risk across three key areas: market risk, cybersecurity risk, and credit and counterparty risk.

Financial Institutions Intensify Focus on Climate Change Risk

Retrieved on: 
Tuesday, May 19, 2020
Finance, Consulting, Banking, Professional services, Insurance, Articles, Financial risk management, Risk, Actuarial science, Climate risk management, Economy, Draft:Financial Risk Manager, Enterprise risk management

Banks and other financial institutions are intensifying their focus on climate risk management according to a new global survey conducted by the Global Association of Risk Professionals (GARP).

Key Points: 
  • Banks and other financial institutions are intensifying their focus on climate risk management according to a new global survey conducted by the Global Association of Risk Professionals (GARP).
  • Firms are evolving their climate risk management capabilities as they are concerned about the long-term resilience of their business strategies to climate change.
  • This is probably because most firms view climate risk as a transverse risk that cuts across risk types such as credit, market and operational, as opposed to a principal risk, and so are managing climate risk within existing risk teams.
  • GARP offers role-based risk certification the Financial Risk Manager (FRM) and Energy Risk Professional (ERP) as well as the Sustainability and Climate Risk (SCR) certificate and on-going educational opportunities through Continuing Professional Development.