According to the April 25, 2007 Chubb International Risk Survey, C-Suite Executives and Risk Managers don’t see eye-to-eye on top threats to multinational business.
The survey’s findings illustrate the importance of an emerging trend toward closer collaboration between an organization’s risk manager and its most senior executives. Could this trend illustrate the growing importance, and rise of, the Chief Risk Officer (CRO)?
For example, “More C-level executives (43%) noted that international risks pose a greater threat to their companies than domestic risks, compared to only 16 percent of risk manager respondents. There are also differences in the types of risks that C-level executives and risk managers are most concerned about when it comes to the companies’ multinational exposures. Twenty-four percent of risk managers cited natural catastrophes such as hurricanes and earthquakes as the top threat posed by a company’s overseas business operations or the business it conducts abroad, and 24 percent of C-level executives found terrorism to be the top threat.”
“The findings illustrate the importance of an emerging trend toward closer collaboration between an organization’s risk manager and its most senior executives. To effectively allocate resources, organizations need a clear, agreed-upon big picture of global risk-one that’s built on many perspectives.”
