Exploring the role of the corporate risk manager

This paper reports on an exploratory study into the activities of corporate Risk Managers in thirty different organisations. The Study identifies a wide range of activities undertaken by these Risk Managers, although the scope of individual Risk Manager's work can vary significantly. This work often goes beyond insurance management, but is usually concerned with identification of "pure" risks which can adversely affect organisational performance. Objectives associated with the work of Risk Managers are less varied, but the scope of risk management implied by these objectives and their inter-relationships is often not fully operationalised.Other findings from the study suggest that the direction and extent of risk managers' work are dependent on a variety of contextual factors, associated with top management influence, external influences, the nature of the business, corporate developments, and characteristics of the risk management department. These factors need to be considered in any attempts to extend or develop the existing roles of risk managers.Other findings from the Study suggest that the direction and extent of Risk Managers' work are dependent on a variety of contextual factors associated with top management influence, external influences, nature of the business, corporate developments, and characteristics of the risk management department. These factors need to be considered in any attempts to extend or develop existing roles of Risk Managers.