Business Partner Role Research Articles

Risk Management at Crunch Time: Are Chief Risk Officers Compliance Champions or Business Partners?

Risk management departments in financial institutions have been undergoing major transformations. New regulatory requirements have raised the bar on compliance and expanded the remit of risk management significantly. The compliance imperative requires banks to implement a firm-wide risk management framework complete with analytical models for the measurement and control of quantifiable risks. In addition, recent corporate governance guidelines advocate the 'business partner' role of risk management. The COSO Enterprise Risk Management framework (2004) explicitly defines risk management as a high-level strategic activity, contributing to board-level decision making, planning and performance management. This role requires that senior risk officers possess an understanding of key strategic uncertainties, and that they communicate these to senior management and the business lines. But how do senior risk officers strike a balance between the twin roles of compliance champion and business partner? Too much reliance on the regulatory crutch may erode the credibility of the risk function as a business partner, while too much emphasis on the business advisory function might weaken its policing capability. In this paper, I assess the roles that risk functions and, in particular, senior risk officers play in fifteen international banks. Because the research was carried out between June 2006 and June 2007, it offers a rare snapshot of the 'calm before the storm' - the state of risk management at fifteen large players before the liquidity and credit crunch became apparent in the second half of 2007. The findings suggest that the role of chief risk officers (CROs) had expanded dramatically, with more than half of them frequently involved in firm-level strategic decisions. However, various compliance and risk modeling initiatives were still works-in-progress in the majority of these large international banks at the onset of the market turmoil. CROs voiced divergent views on the uses, benefits and limitations of risk models, suggesting that they promoted different 'calculative cultures' (quantitative enthusiasm versus quantitative skepticism). Strategically involved CROs therefore interpreted the business-partner role of their function in different ways. Some risk functions aspired for an influential expert voice in key business decisions (the risk function as strategic advisor), while others strived for the formal integration of risk management with performance management (the risk function as strategic controller). The achievement of the Strategic Advisor role in some banks and the Strategic Controller role in others, calls for a clarification of stakeholder expectations on risk management. This would reduce the danger of an expectations gap opening around particular risk management approaches that are adequate for certain banks but ill-suited for others.

Strategic HR Roles in India: HR – Dares to be the Think Tank?

Conner and Ulrich's (1996) Multiple Model Survey Questionnaire was validated in this two stage research study. In the first stage, 4 organizations were purposively chosen and a random sampling was conducted on 44 managers to pilot test the questionnaire. In the second stage, the study was conducted on a sample of 600 managers, falling in nine industrial sectors. The study seeks to probe, HR -Line managers' perception of the strategic HR roles, the status of the strategic HR roles, and the impact of the background variables on the strategic HR roles. Descriptive statistics, Correlation, Coefficient and Bi-variate analysis was tabulated. Findings indicated that there was no difference in the perception of the strategic partner role in the managers of the Public Sector and Multinational firms. There was a significant difference in the perception of HR mangers and line managers, while Hierarchical level impacted the Business partner role of HR. The results provide support for the strategic HR roles, which are of a moderate quality, found in the managers of the IT sector. Implications for a think tank role of HR are discussed along with future research areas.

Is HR ready to take on the role of business partner?

Is HR ready to take on the role of business partner?

From Partners to Players: Extending the HR Playing Field

AbstractHR professionals must always be “becoming” or constantly changing and adapting. For the last decade, many have argued the business partner role as a complement to traditional HR administrative work. We argue in this paper that HR professionals should move beyond partners to become players. HR professionals as players are “in the game, on the field, making a difference” through their HR work. In this article, we suggest that to become players, HR professionals must learn to coach, architect, build, facilitate, lead, and provide a conscience to business leaders. Specific knowledge and tools for each of these roles are described. © 2001 John Wiley & Sons, Inc.

FROM INFORMATION PROVIDER TO BUSINESS PARTNER: WHAT ROLE FOR THE MARKET RESEARCHER?

In a rapidly changing business environment market researchers are facing challenges to their industry from other suppliers of information services. This may result in market researchers becoming information providers rather than being business partners to management. However, for market researchers to develop a meaningful business partner role, will require changes in terms of their skills and approach to senior management. Ways in which these changes can be achieved are suggested.