The Financial Times have reported that risk managers are likely to see their pay rising by as much as 50 per cent over the next five years as companies seek to avoid the market, legal and reputational risks exposed by the financial crisis, according to a  recruiter Whitehead Mann.

However, some within the investment banking world still do offer their risk management departments an influential postion within the firm.

Whitehead Mann, which surveyed 50 senior risk management professionals at FTSE 100 companies, found that nearly 80 per cent said they had noticed a changed attitude in their companies to managing risk, led by more serious approaches to regulation and tougher trading conditions, as well as shareholder demand, fear of litigation and directors’ fears of personal liability.

Even so, 14 per cent said they were still not influential in their organisations, indicating that companies need to nurture a culture that takes risk more seriously and to hire more senior executives who have not only technical skills but are also able to interact at board level. More than one-third of companies didn’t have a risk committee.

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