Fundamentals of Enterprise Risk Management, 2nd Edition

CHAPTER 22

MODERN RISK MANAGERS

In the case of sawmills, it is not a question of if it will burn but when it will burn.

—LANCE EWING, PROMINENT RISK MANAGER

RISK QUOTE: A jury consists of 12 people who determine which client has the better lawyer.

—ROBERT FROST, POET

Risk Manager Roles

Clearly, the modern risk manager role starts with the culture of the organization. Some entities want the risk manager to have a narrow role as essentially a buyer of insurance, a processor of legal and other insurable claims, and an advocate for safety. Others see the risk manager in a wider role, often with the title of enterprise risk manager or even chief risk officer. A 2004 survey found that successful risk managers took on three distinct roles:

 

1.