Risk management practices have come under increased scrutiny in the wake of the global financial crisis. Regulators, auditors, clients, investors and other key stakeholders are pressuring organizations to identify and explain how they manage the risks they face. These discussions take place in the C-suite and boardrooms around the world, but one individual who could offer valuable insight–the risk manager–often does not have a seat at the table.

Risk managers are often viewed chiefly as insurance buyers, and as a result of a longstanding soft insurance market and a growing trend toward a more procurement purchasing style, they may be even further distanced from the ambit of the C-suite.

This "perception gap" was highlighted in Marsh's recent Excellence in Risk Management survey, conducted annually in collaboration with the Risk and Insurance Management Society (RIMS). Only 10% of C-suite respondents said they felt the risk management function was inadequately represented at the board or C-suite level, compared with 38% of the risk manager respondents.