The majority of risk leaders are involved in strategic decision-making in their organisations, with 66% of those who lead the function confirming their involvement in such decision-making, according to Airmic’s latest Big Question survey.

The results of the association’s poll aligns with the findings of the World Economic Forum’s recent report on the outlook for chief risk officers, which underscores how a strong risk function can provide organisations with a competitive advantage. The findings highlight the growing recognition that effective risk management is not just about crisis response but also a key driver of long-term strategic success.

Julia Graham, CEO of Airmic, commented: “Organisations have realised how essential risk management is in times of crisis such as during the pandemic. With the current period of extended geopolitical turmoil, organisations need to embed risk management in their strategic decision-making, so as to navigate through the permacrisis.”

The WEF report also noted an increase in the percentage of chief risk officers deeming elections and political regime change to be a risk of concern – particularly after the recent US presidential election, in developments which have been contributing to economic policy uncertainty as well as to investor caution globally.

Hoe-Yeong Loke, head of research at Airmic, said its still early days for President Trump, and that his latest round of tariffs is just the beginning. “Unlike during his first term, Trump has shown even more willingness to use tariffs towards achieving wider foreign policy goals – such as curbing illegal immigration and drug trafficking – rather than purely on trade considerations. All of this creates an even more volatile and dynamic global environment, which calls for risk professionals to step to the forefront to guide their businesses and organisations.”

Commenting on the findings of Airmic’s poll, Leigh-Anne Slade, head of Media, Communications and Interest Groups, noted that risk professionals have the opportunity to expand their influence within their organisations – if they choose to take it. She stressed that by actively engaging in strategic discussions, they can go beyond traditional risk mitigation and assert their role in shaping business decisions.

“For many of our members’ organisations, risk management is already largely involved in preserving and enabling the organisation to deliver on its strategic goals,” she explained. “They could be much more involved in the setting that strategy with the board – especially before crisis hits.”

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