There is a difference between risk and uncertainty, explained Mr Lindkvist. Risk is what may happen in the short-term, such as the Eurozone debt crisis, but uncertainty takes a longer-term view. “Risk can be dealt with using statistics—uncertainty cannot,” he said. “If you think too much about risks you will miss things in the future.”

In order to get to grips with future risks and uncertainties, risk managers need to adopt the job title and role of chief imaginary officer, the trendspotter advised.

To fulfil this role risk professionals need to make full use of events such as the Ferma Forum and increase the amount of time they spend discussing ideas. They need to experiment more and accept that failure is not the end of the world, he added. In fact, according to the speaker, they must use past failures to inform future plans and strategies. Above all risk managers must be patient and accept that good ideas can take a while to bear fruit.

“If you want to change things do it slowly—no one will notice anything,” he lightheartedly advised.

The futurist told delegates that when he first heard of risk management, he imagined a group of professional magicians who could see into the future. But on closer inspection, and with consultation with C-suite officers, he began to get a very different picture.

Risk managers were often referred to as insurance buyers, compliance officers, statisticians and even people that throw money at problems. Whilst his initial opinion was obviously fanciful, he argued that risk managers do have a problem in the way they are perceived by management. “There is a disconnect between the way that the group perceives you and what you actually do. Ferma needs to help bridge this gap,” he said.

On future trends, Mr Lindkvist believes that the global change in demographics, or ageing population, will increase innovation.

“Old people have more time on their hands so the rise in demographics will lead to more innovation,” said Mr Lindkvist. The big challenge for many companies therefore is how they keep their experienced and older staff. It is not all about the production line of youth, on which so many concentrate, he added.

He also noted that many chief financial officers, who tend to employ a tickbox approach to management, are promoted to the role of chief executive officer. But, along with risk managers, they should avoid such an approach if they are to anticipate future trends. “You will miss things if all you want to do is put them in boxes,” he advised.

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