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Autumn Statement: Institute of Risk Management Comment

Autumn Statement: Reaction from the Institute of Risk Management (IRM) 7th Risk Leaders Conference

Yesterday over 100 senior risk management professionals convened for the IRM’s 7th Annual Risk Leaders conference in London.

Senior representatives were in attendance including the former Deputy Supreme Allied Commander of NATO, Sir Richard Shirreff KCB, CBE, and other key players from industry including David Styles, Director of Corporate Governance from the Financial Reporting Council and Richard Pryce, CEO of QBE.

Speakers and delegates discussed the risk landscape and how this affects organisations longevity and long term viability - the Autumn Statement has gone some way in addressing the concerns of businesses in uncertain times.

Dr Ian Livsey, Chief Executive of the IRM said:

“The IRM broadly recognises the messages set out in the Autumn Statement 2016; the UK is in a period of flux with the historic BREXIT decision creating uncertainty in the markets.

Risk Managers have a vital role to play in assessing and mitigating the threats and opportunities posed in the macro economic environment.

Also appearing on our risk radar are the rapid developments in new technologies like robotics, artificial intelligence, blockchain and the Internet of Things, all of which could bring about profound changes in business models.

We welcome the expected £1bn investment for superfast broadband as this is crucial to business and trading on the global stage. The IRM also welcomed the governments’ previous pledge of £1.9 billion of investment towards cybercrime and urges that cyber is kept at the top of the political agenda.

UK plc has a massive opportunity to benefit from the £400m investment for the British business bank to invest in fintech (financial innovation) firms.

We want Britain to remain the number one destination for business“.

This was posted in Bdaily's Members' News section by Victoria Robinson .