Daily Market Update - December 12, 2014

Risk management teams need a personality mix… Businesses need to improve travel risk management… Hackers threat to air safety…

Risk Management News

By

Risk management teams need a personality mix
A strong risk management team is made up of a mix of personality types according to new research. Keith Ricketts, Marketing Director at Sword Active Risk commented; “We found that risk managers have many different personality profiles, however, there is a stereotypical risk manager and about 60 per cent fall broadly into this category, which we call Technicians. The other types were Evangelists, who made up about 30 per cent and Drivers who made up about 10 per cent. In our experience, the ideal risk team includes a combination of these types - to be effective and bring out the best in the team you need a mix of skills.”  The technicians are analytical and naturally cautious types, while evangelists are great at getting the message across in a diplomatic and inspiring way and drivers will be focused on getting results. This combination of analysis, persuasion and determination should produce a formidable risk management team.
 
Businesses need to improve travel risk management
Geo-political unrest and increased weather incidents will require better integration of risk management for business travel. Stewart Harvey, group commercial director of international travel firm Hogg Robinson Group says that businesses are becoming smarter in the way they use travel data: “Clients are using their travel data in ways we could never have imagined three years ago. What used to be the realm of the data analyst can now be understood by anyone who can use a mouse and keyboard.” He predicts that 2015 is going to be about clients demanding more from their commercial agreements with travel management companies and improving their travel risk management procedures. Harvey says that companies have a legal obligation for the safety of their workforce and improving travel risk policies is a key part of this.
 
Hackers threat to air safety
Aviation experts are warning that hackers pose a real and growing threat to the safety of our skies. The International Air Transport Association and four other aviation organizations have recently signed an agreement for a united approach to tackle cyber risk in the industry. Stealing information is a concern for most industries but the aviation bodies are also concerned about the ‘worst case scenario’ of hackers tacking control of airline systems. The industry-wide approach will help build robust defenses against the increasingly sophisticated attacks from criminals and rogue states.  

Keep up with the latest news and events

Join our mailing list, it’s free!