HOW DOES SCOR FOSTER A CULTURE OF RISK KNOWLEDGE AND AWARENESS ACROSS THE ORGANIZATION? R.G. Several initiatives help employees build awareness and understanding of risk. The Emerging Risk Assessment Group is open to all employees, encouraging participation in identifying new and emerging risks. The SCOR Corporate Foundation for Science funds ongoing research projects in key areas related to risk and hosts conferences where employees are invited to learn more about these topics. We also partner with other risk and insurance organizations, such as the CRO Forum, to share risk knowledge with the rest of the industry. WHAT ARE SOME OF THE TOOLS SCOR USES TO MANAGE ITS BUSINESS RISKS? R.G. Our risk management and mitigation tools include SCOR’s solvency scale, which sets an optimal target range for capitalization and outlines the various management initiatives for steering the solvency position back to this optimal range if required. We also have a capital shield strategy, which sets out the traditional and innovative risk mitigating mechanisms used to protect our capital and solvency and better balance our risk profile and diversification. WHAT ROLE DOES THE EMERGING RISK RADAR PLAY IN SCOR’S RISK MANAGEMENT STRATEGY? R.G. The emerging risk process supports our risk management strategy by identifying and monitoring future or fast-changing risks. This requires close collaboration across teams to provide insights on opportunities related to these emerging risks. The process involves a wide community of observers and results in individual risk assessments, enhancing our preparedness and resilience. It also contributes to our Raison d’Être – combining the Art & Science of Risk to protect societies – and our strategic objective to be future-ready. “The emerging risk process involves a wide community of observers and results in individual risk assessments, enhancing our preparedness and resilience.” R.G. CONTRIBUTOR INTERVIEW RAPHAEL GOLDEMANN Senior Risk Manager TRANSFORMING TOMORROW WITH OUR VISION 41
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