Tom Wilson, CRO, Allianz Group
Wilson is responsible for global risk controlling and risk management policies and guide-lines for the Allianz group. He is a member of the CRO Forum and the Professional Risk Managers International Association and is a renowned speaker and author on the topics of risk management and the impact of regulations on insurers.
Who do you most admire in the field of risk management?
Those in risk at all levels that are able to influence the business in the direction of doing "good" business, day in and day out.
What have you learnt about communicating risk?
That communication is not a technical exercise and that finding the right way to communicate to trigger actions is more valuable than having the right model.
What are the major challenges ahead?
The biggest challenges in the short- to medium-term are the low interest rate environment requiring a rethinking of the industry's life and health/retirement business model; the potential for a "negative spiral", for example a loss in confidence in the Euro area driving up implied volatilities and credit spreads, reducing equity markets and causing further quantitative easing which is likely to be as effective as "pushing on string" and actually may trigger even lower rates; regulatory-driven uncertainty and volatility under Solvency II and redundancies under new regimes such as the International Capital Standard.
What will be the next big development in risk management?
It is a priority shift on ensuring business impact while staying regulatory compliant.
What are your other interests?
Travel, reading, music, cooking & wine.