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Luc Neuberg (ALRiM): A Quarter Century of Promoting Risk Discipline

 

As ALRiM celebrates its 25th anniversary, founder Thierry Lopez, former presidents Alain Bastien and Marco Zwick, and current president Luc Neuberg discuss the evolution of risk in relation to ALRiM's original direction, introduced by board member Michael Derwael. Today its members come from a wider array of business sectors, offering a global approach to the risks its members seek to control.

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How has ALRiM evolved over the past quarter century?

 

When the Luxembourg Association of Risk Management (ALRiM) was founded 25 years ago, it focused mainly on the activities of banks’ and, later on, investment funds’ risk managers. Its members were mainly risk managers. Since then, functions such as administrators, front, middle and back office workers are represented by the members, bringing different perspectives and concerns to discussions. And this keeps evolving!

Every year, ALRiM is pleased to host the World Economic Forum's (WEF) Global Risk Report presentation: recent presentations have illustrated the broadening risks scope.
 

Accordingly, today, ALRiM sees its mandate as also encompassing new concerns such as environmental, social and governance (ESG), as well as cyber risks that impact all actors in society and the economy. ALRiM's scope is thus broader than just financial risks and represents the concerns  and perspective of its members.

 

“ALRiM now includes board members and people from a wider range of business sectors, reflecting the generalization of risk management as a key component of governance”


Is there a single issue that has helped determine ALRiM's direction?

 

Risk management has moved beyond the risk management department and has become essential in every organisation, at all levels. Risk management has become an integral part of governance. It encompasses a much broader scope than its past focus on financial risks.


ALRiM has become a well-known and recognised player in the Luxembourg financial centre and its main mission is to promote a risk management culture for all players in the centre and for all types of companies.
 

How is ALRiM seeking to develop an awareness of the need for risk management?

 

ALRiM promotes the major idea that risk management is not a cost center but adds value; that its members seek to manage risk not minimize it. As president of ALRiM, Luc Neuberg saw his mandate as broadening the debate about risk beyond the purely financial to include societal risks. ALRiM is a centralized depositary of sources and information but shuns any elitism, seeking to be open to everyone. ALRiM works with many associations, it attends conferences including those of the Economist Club, LFMA, and ATEL; it co-organizes and addresses important conferences such as ABBL for banks, Alfi for the funds, and the WEF to reach wider audiences. Another extremely important way ALRiM promotes risk management is through training at all levels including continuous training which is a key element in developing the culture.

 

 

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