Swiss Re calls for country risk officers to coordinate international responses to risk

In response to risks that span across geo-political boundaries — climate change, global economic recession, political risks, etc. — Swiss Re is calling for the establishment of ‘country risk managers’ to help prioritize and co-ordinate holistic risk management approaches.
Country risk managers would take responsibility for national and international co-ordination of risk perceptions and management strategies, Swiss Re says in its focus report, Country risk management: making societies more resilient.
According to Swiss Re, a country risk officer would identify risks in collaboration with the scientific and insurance industries, engage in risk dialogue with government departments, parliaments and the public, and co-ordinate international responses to cross-border risks.
The position would help to build a bridge between different perceptions of risk not only within countries, but between countries as well, Swiss Re says in its report.
“A country risk officer would act as a central point of contact for the purpose of managing a comprehensive, multi-area risk portfolio,” the report says.
“Such an ‘all-hazards approach’ demands a high degree of coordination between the various levels of government and administration, private-sector operators and the insurance industry, also reflecting the inter-connectedness of the risks faced.”
“Crisis cannot be prepared for and managed in the best possible way without unhindered communication between the various offices and departments involved.
“The country risk manager can take on this role, make use of synergies and avoid duplication within government offices by ensuring that the plans for a variety of risk scenarios are implemented in a coherent and effective way.”