Dirk Wegener, President of FERMA and Global Head Corporate Insurance, Deukona – Deutsche Bank
Why is the theme ‘’Corporate Risk & Finance: how to finance the ever growing universe of risk? ‘’ relevant in today’s Covid-19 crisis?
When we set the title of the Seminar, we had of course not envisage the Covid-19 crisis. But what we had in mind was the necessity to quantify risks as a precondition to assure appropriate financial instruments in case such risks materialize. Covid-19 is, for the globalized societies of today, a unprecedented event and therefore presumably not rightly reflected in existing quantification models. With the Seminar, we aim to empower risk managers to have a meaningful dialog with their Finance colleagues and improve the risk quantification skills.
How will the role of the European risk managers evolve in order to aim for a sustainable and digital future?
Today, the pandemic is at the forefront of risk managers’ concerns. However, it has also accelerated the digital transformation and associated cyber risk. Likewise sustainability will remain a key issue and source of opportunities as well as risks. Cyber and sustainability risks are easily systemic and questions arise about the capacity of ERM to identify the relevant risk scenarios. Risk managers are keen to play a role in the discussions and contribute to the resilience of their organizations. To do so, future risk managers will need to be agile, communicative and collaborative to conduct an effective conversation on future risks and risk management processes.
Why is participating to the European Risk Management Seminar important to you?
Of course and alike anybody else, I am expecting to learn new things and gain insights in state of the art techniques. But as the president of FERMA it is also a great opportunity to exchange views and ideas with my European colleagues and obtain their feedback on our activities.