Sword Active Risk has made its risk management software (ARM) available free for universities and business educational establishments.

Staff and students are able to access and use the risk management software via Amazon Web Services at no cost. To date universities in the UK, US, Australia have started to use the software as part of student courses. The initiative supports Sword Active Risk’s commitment to the Risk Management profession and follows its work with the Institute of Risk Management (IRM). Sword Active Risk is a Technology Sponsor of the IRM’s Risk Agenda 2025 project, launched earlier this year, to investigate what the future of risk and risk management could look like in 2025.

Keith Ricketts, VP Marketing at Sword Active Risk said: “In the past ten years we have seen both the risk landscape and expectations faced by Risk Managers change beyond recognition. It will be essential that Risk Managers have, as a pre-requisite, a greater understanding of the business and that they continue to work collaboratively with other departments.

“Software tools like ARM enable the fast, easy capture of risk information and provide a powerful way to articulate the risk story working with others across an organisation.

“By enabling students the opportunity to freely access risk management software they will gain insights as to how powerful analytical tools and visual dashboards can help manage risk and business performance across an organisation. It will give young Risk Managers a step up as they enter the profession and underlines our corporate social responsibility ethos to widen access to, and support, the risk management industry.”

As part of the Risk Agenda 2025 project the IRM has recently published its report, ‘Setting the Risk Agenda – Exploring the future of the risk management profession’, which following a survey amongst risk management professionals, outlines the five key risks that risk managers face including; technological change, economic and financial instability, geopolitical volatility, climate change and longevity. It also sets out the five key trends and challenges ahead for the risk profession for 2025. A full copy of the report can be downloaded from the IRM website  www.theirm.org