AXA XL uses two forms of cookies on this site:

  1. to enable the site to operate and retain any preferences you set
  2. for analytics to make the site more relevant and easy to use

These cookies do not collect personal information. For more information about our cookie usage, please click here. To comply with EU privacy laws you must consent to our use of cookies.

By using this site, you agree that we can place these types of cookies on your device. If you choose to change your cookie settings you will be presented with this message the next time you visit.

Fast Fast Forward

The Value of a Robust Risk Culture as Times Change

Jacob Rosengarten, Chief Enterprise Risk Officer, XL Group


Proposed regulatory updates and initiatives coupled with an uncertain economic outlook have added new layers of complexity to our own risk management processes.  According to Jacob Rosengarten, XL Group’s Chief Risk Officer, to manage risks associated with these changes, “It takes years to create an effective risk culture. Cultures are ultimately created by routines, practices, processes and a sense of trust that is built around those. We need to always take care that the best of our risk cultures do not degrade, either through arrogance or laziness. There are many unfortunate stories where very smart companies made very silly mistakes caused, in good part, by tears in the cultural fabric of that company. Maintaining effective risk cultures thus requires constant vigilance and nurturing, and a population of colleagues willing to step forward and initiate constructive change when they observe practices that are not working as intended, or any form of degradation in the risk culture.” 

Visit Clear Path Analysis for a full copy of the report.

© 2018 AXA SA or its affiliates
AXA XL is the P&C and specialty risk division of AXA.