Job Market Loosens For RMs
By Caroline McDonald
NU Online News Service, Aug. 23, 11:05 a.m. EST?Employment opportunities for risk managers are expanding, as companies look to fill more mid-level and staff risk management positions, according to an industry expert.
But Bill Perry, president of Logic Associates Inc. in New York, a leading risk management head hunting firm, in an interview with National Underwriter, also said that risk managers seeking employment or a job change should to continue to beef up their skills and education.
Employers, he said, are "still looking for the upgrade and the education." Mr. Perry is also finding "that more than ever there is an expansion" of risk management staff.
Mr. Perry said he has seen some upgrading in terms of risk managers being laid off and replaced by others "more educated and well-rounded."
However, he said he is seeing more "number one risk managers" willing to take on "a really viable number two role with a strong company. We're not dealing with the egos like we used to deal with."
These high-powered positions, he said, are "going anywhere from $100,000 to $150,000."
Risk managers are now willing to take these positions because "so many companies are going out of business and so many companies are questionable," he explained. They're asking, "why wouldn't I want to go to work for a Fortune-200 or Fortune-500 Company that I think is going to be in business? I'll be a number two there versus staying where I am in a questionable company."
Though "everybody's talking about it," enterprise risk management has yet to see a real hiring trend, he continued.
Mr. Perry said some companies are trying to formulate enterprise risk management departments, and the term is being "bantered about," but he is seeing very few insurance risk managers being upgraded to the enterprise risk management position.
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