There is little doubt that we are in the midst of ra pidly-changing world events, from geopolitics to he alth, economic, and climate based occurrences creating new risks and opportunities for businesses. These changes have further highlighted the need for augmenting organisa tional risk management across every sector, prompting India Inc to steadily shift its focus to wards hiring more risk-intelli gent professionals instead of focusing solely on pure domain expertise. While domain ex- perts bring specialised know- ledge of their field, risk-intelli- gent professionals back it up with risk awareness and miti- gation abilities that are critical that can occur in pursuit of its organisational goals. Given that certain risks are inevitable in any business, risk-intelli- gent officers ensure that these uncertainties are dealt with in a planned manner so as to mini- mise their adverse impact.
In this scenario, Enterprise Risk Management (ERM) has emerged as a highly sought-af- ter skill among job aspirants.
Upskilling with ERM
A change has been seen among professionals who are upskilling with ERM as against those who do not have the title of risk manager. The pandemic has focussed businesses on the need to be prepared and brought risk management firmly into the spotlight. Typi cally pursued by risk professio nals alone, today, a high de mand for risk-intelligence has made the ERM qualification universally applicable. It can also be pursued along with un dergraduate education or even a professional career.
[The author is CEO, Institu te of Risk Management (IRM), India Affiliate]
Published on Times of India
Date :- 21 02 2022
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