Announcements

  • Program Announced for RIMS Canada Conference, September 11–14 in Halifax

    After a two-year break, risk professionals from across Canada will reconvene at RIMS Canada Conference, the country’s most expansive and impactful risk management event of the year.  Scheduled from September 11 to 14 at the Halifax Convention Center, the conference’s education program features nearly 40 diverse sessions that explore strategies to address a world of new and dynamic risks, strengthen organizational resiliency and empower innovation. Leaders in the profession will share their insight and experiences in sessions covering:

     

    • Cyber Protection and Incident Response Strategies
    • Environmental and Climate Concerns
    • Diversity, Equity and Inclusion Opportunities
    • Inflation Risk and Insurance Best Practices
    • Property Valuation
    • Merger & Acquisition Considerations
    • Risk Professional Skill Development and Networking Opportunities, as well as
    • Other Emerging Risks

     

    “As the RIMS Canada Conference theme suggests, business tides are turning and it is up to risk professionals to transform recent adversities and uncertainties into game-changing opportunities for our organizations,” said RIMS President Patrick Sterling. “After a two-year hiatus, we are excited to welcome Canada’s risk management community back and deliver this thought-provoking experience for them to learn from the best and expand their networks.”

     

    In addition to the nearly 40 educational sessions, RIMS Canada Conference welcomes a sensational line-up of keynote speakers that includes best-selling author and CEO Barb Stegemann, Janice Gross Stein, the Founding Director of the Munk School of Global Affairs, University of Toronto and comedian, writer and actress Kate Davis.

     

    On September 9th, RIMS will host a “Risk Appetite Management” pre-conference workshop in Halifax. The workshop delivers best practices for identifying key metrics to build risk appetite and risk tolerance frameworks and statements. The workshop is separate of the conference.

    To register for RIMS Canada Conference, visit www.rimscanadaconference.ca.  To learn more about RIMS Canada Council, the Society’s 10 Canadian chapters and additional resources for risk professionals, visit www.rimscanada.ca.  RIMS global website is www.RIMS.org.

  • RIMS President's Corner: At The Top of Our Game

    Whether its regulatory changes, the introduction of new technologies, sudden turns in the economy or something we haven’t even thought of yet, risk professionals have an awesome responsibility to make sure our organizations are prepared. RIMS powerful community continues to contribute and deliver so that we have what it takes to stay at the top of our game.  

    To stay at the top, sometimes you have to focus on yourself, and your own professional development. There is no time like the present to catchup on those Risk Management Magazine articles and RIMScast podcast that you never got around to or join a RIMS virtual workshop. And, we have several for you to choose from this July:   

    • The Risk Appetite Management virtual workshop (July 13-14) will explore how a well-devised risk appetite framework can help you link strategy and risk management and, ultimately, strengthen your organization’s risk culture.
    • Alternative risk financing is becoming an essential option that all risk professionals must consider. RIMS is excited to deliver one of its newest virtual workshops Captives As An Alternate Risk Financing Technique(July 13-14). This is a great opportunity for practitioners at all levels and at every step of the risk financing process.
    • Claims Management (July 19-20) is fundamental to our risk management programs. This virtual workshop will look at best practices to analyze an organization’s vulnerabilities and tips for defining your organization’s attitude toward risk and claims.

    In addition to workshops, we have a wide range of online courses to choose from.  Visit the Society’s education portaland pick one to strengthen your game.  

    The education doesn’t stop at your computer screen.  After a two-year hiatus, we are excited to welcome Canada’s risk management community back. RIMS Canada Conference is scheduled for September 11-14 in beautiful Halifax and we have a great line-up keynote speakers. So, in addition to the game-changing education, attendees will get to hear from best-selling author and CEO Barb Stegemann, Janice Gross Stein, the Founding Director of the Munk School of Global Affairs, University of Toronto and comedian, writer and actress Kate Davis. Registration is open.  We can’t wait to, literally, see you.  

    I know it seems like we just got home from RISKWORLD 2022, but it’s time to start planning for next year. RIMS will accept session submissions for RISKWORLD 2023 in Atlanta starting July 11 and, later this month, the exhibition participation process will begin (links to both will be added when they open). Speakers, attendees, volunteers and our attendees all play a big role in making RISKWORLD the leading risk management event in the world. Learning from others is the key to elevating your risk management game.  We can’t wait to see and hear what our global community has in store for RISKWORLD 2023.

    Around the world, our RIMS leaders continue to demonstrate this community’s unrivaled expertise. Enterprise Singapore awarded RIMS with the Enterprise SG-SSC/SAC Commendation Award for our contributions to the development and adoption of Singapore’s official ISO 31010 risk management standard. I want to congratulate all the volunteers who took part in this initiative including Roland Teo, the head of the RIMS Singapore/ASEAN Regional Advisory Group, who will accept the honor at the 2022 Quality & Standards Partners Appreciation Event this month.

    Lastly, I would like to celebrate the lives of two influential risk management leaders who, during their lifetimes, committed their hearts and souls to advancing the profession. As RIMS Executive Director, Jack Hampton demonstrated an unwavering commitment to growing knowledge and professionalism in our community.  RIMS is so grateful for his service and is committed to carrying-on his legacy.

    Dan Kugler was a RIMS and Spencer Educational Foundation Board Director who devoted much of his professional life to risk management education. He led numerous courses at universities, engaging students and promoting this amazing profession. Spencer has established the Dan Kugler Memorial Risk Manager on Campus Grant in his honor. To learn more or to contribute, you can visit the grant’s webpage.  

    It continues to be an amazing honor to lead RIMS and to share all of these game-changing and skill-sharpening resources. I sincerely thank all of the risk professionals who share their experiences – as session submitters and speakers, as exhibitors, as chapter leaders, as standard setters, as authors and as engaged members.  You allow us all to stay at the top of our game.

    Sincerely,

    Patrick Sterling
    RIMS 2022 President

  • RIMS EXECUTIVE REPORT: GETTING STARTED ON CYBERSECURITY

    Due to limited resources and security infrastructures, cybercriminals often consider small- to medium-sized businesses more attractive targets, according to the newly published RIMS Executive Report “Getting Started on Cybersecurity.”

    Authored by members of RIMS International Council, the report explores the latest trends in cyberattacks against small- to medium-sized businesses, as well as the following five areas of consideration that allow businesses to more effectively address, mitigate and prevent cyber-related incidents:

    1.     Identifying Important Information

    2.     Scenario Planning

    3.     Proactive Response Planning

    4.     Employee Policies and Guidelines

    5.     Monitoring and Building Cyber Support Teams

    “As the world has made dynamic strides in digitizing many strategies and process, we have in turn created a much larger attack surface for cybercriminals,” according to the report.  “With the increased proliferation of cyberattacks every year, it is of paramount importance that every small- and medium-sized business identifies and better understands their threat profile and vulnerabilities.”

    The “Getting Started on Cybersecurity” report, located in RIMS Risk Knowledge library, is available to members only for the first 60-days. For additional information about the Society’s global initiatives, resources and educational programming, visit RIMS Global at www.rims.org/community/global-professionals

  • RIMS President's Corner: Globally Aware

    Awareness is a cornerstone of risk management. In order to mitigate the negative impacts of risks, it is critical for risk professionals to be aware of their surroundings, their competitors, employees, processes and the business world around them. That awareness not only allows us to avoid crisis, it empowers our organizations to remain resilient, it keeps our employees safe and our goals within reach.  

     

    In addition to the business advantages of being aware, being socially aware is equally as important. I want to start this President’s Message by recognizing the recent horrific and senseless attacks in New York, Texas and Tulsa that took the lives of innocent people and that will forever change the lives of countless others. Unfortunately, these events are becoming more and more prevalent, while the questions about the motivation and audacity are endless, and the answers to end them seem further and further out of reach. While we can’t change the past, we can certainly learn from it and I strongly believe that risk professionals can be a big part of the solution.

     

    Last month, with the help of RIMS Diversity, Equity and Inclusion Advisory Council, we created awareness about aggressions toward Asian Americans and the heritage of Pacific Islanders.  In the U.S. we celebrated the thousands of veterans who sacrificed their lives for their country and, in June, we recognize Pride Month and Juneteenth to celebrate individuals who continue to face so much adversity.  I encourage RIMS members to take notice of these celebrations, to share their personal experiences, as well as opportunities for the Society to recognize other groups.  Addressing social issues is a learning process and RIMS relies on our members to help us continue to take strides in this area.

     

    As our world has become even more connected than ever before, it is important that we are globally aware as well.  RIMS worked with AXA XL’s team to produce the Managing Global Geopolitical Risk in 2022 and Beyond” RIMScast discussion that focused on the present and long-term risk management implications of the Russia/Ukraine war. Our podcast series have become an awesome resource and I encourage you to tune-in and listen to how global risk leaders are tackling some of the world’s most challenging issues.

     

    We must also be politically active and aware. This month, a small group of volunteers from RIMS External Affairs Committee will head to Washington, DC to effect change.  There, they will meet with legislative offices – ahead of RIMS Legislative Summit that is scheduled for September 20 -22 – to generate awareness about the Society’s legislative priorities…priorities that have a direct impact on our members’ work.  If you have interest in government affairs and want to learn how lobbying works, the Summit is a great place to get a taste of the action on Capitol Hill. Visit RIMS Advocacy to learn more about our legislative initiatives.

     

    Lastly, part of being aware is having a pulse on best practices.  Recently, RIMS published a new report titled,“Navigating the Complexities of Emerging Risks,” that is available to members only.  Based on survey findings, RIMS Strategic and Enterprise Risk Council explored lessons learned from the pandemic and outlined effective practices to proactively address and leverage emerging risks.  The report and so many other risk management resources are available in the Risk Knowledge library.

     

    RIMS is a community made up of professionals from all walks of life and from all over the globe. This Society feels a responsibility to create awareness about social issues that impact our communities and to celebrate with our members as they achieve milestones and break through barriers. The Society has developed resources about active shooter preparedness, inequities in the workplace, social issues and mental health concerns. However, our efforts to strengthen global awareness about important social, professional and political issues is far from over.

     

    Together, we must continue on this path, committing our risk management skills to the development of even more thought-leading knowledge and do our part to build a better world.  Thank you for being a part of this journey.


    Sincerely,


    Patrick Sterling
    RIMS 2022 President

     

  • RIMS WELCOMES 80th CHAPTER: GREATER BLUEGRASS

    RIMS, the risk management society®, has announced the addition of its 80th chapter in Louisville, Kentucky. RIMS Board of Directors reviewed the formal application, submitted by local risk professionals, and voted unanimously to establish the RIMS Greater Bluegrass Chaptereffective immediately.

     

    RIMS Greater Bluegrass Chapter’s inaugural Board of Directors includes: President – Erica Kiefer (YUM!); Vice President of Administration – Dave Orberson (Churchill Downs); Vice President and Treasurer – Cindy Pherigo (Lexmark); Vice President of Communications – Britt Embry (Baptist Health); Vice President of Membership, Diversity, Equity, and Inclusion – Mark Miller (Kentucky League of Cities); Board Seat – Evan Garmon(Gallagher); and Board Seat – Jeremy Stephens (AEGIS Insurance Services).

     

    “The risk management profession is enjoying a boom, with organizations recognizing its value and dedicating resources to ensure their organizations are prepared for the next big risk,” said RIMS President Patrick Sterling. “RIMS chapters continue to be excellent sources for best, local practices and even better for building networks to help us meet increasing expectations. I am so proud to announce that my hometown now has a RIMS chapter and am confident that this group of legendary risk executives will lead it to great success.”

     

    RIMS Greater Bluegrass will hold a strategic planning meeting on June 9, 2022 to develop goals, programming and a schedule for the remainder of the year and 2023. Risk professionals can visit the local chapter’s website at http://greaterbluegrass.rims.org/home.

     

    With the addition of RIMS Greater Bluegrass Chapter, the Society now has 80 official chapters. Sixty-five of those chapters are located in the United States, 10 in Canada and one each in India, Japan, Mexico, New Zealand and Australasia. In addition to its chapters, RIMS provides support and resources for risk professionals around the world. For a complete listing of RIMS chapters, visit https://www.rims.org/membership/Pages/ChapterWebsites.aspx.

  • RIMS EXECUTIVE REPORT: NAVIGATING THE COMPLEXITIES OF EMERGING RISKS

    Integrating emerging risk considerations into an ongoing risk management program is necessary to avoid future surprises, achieve strategic objectives and deliver long-term value, according to the newly published RIMS Executive Report “Navigating the Complexities of Emerging Risks.”

    Based on the findings from a recent survey, members of RIMSStrategic and Enterprise Risk Council explored lessons learned from the pandemic and outlined effective practices to further support risk professionals as they work to proactively address and leverage emerging risks.

    “In the face of so much uncertainty and volatility, business leaders around the world have challenged their risk management teams to identify, assess and deliver solutions to prepare the organization for the impacts of emerging risks,” said RIMS President Patrick Sterling. “And, while the scope and speed of those risks are hard to gauge, there are common practices risk professionals can integrate to empower decision-makers, demonstrate value and steer the organization in the right direction.” 

    KEY SURVEY FINDINGS

    ·       95% reported that the trigger for recategorizing a risk from emerging to active or ongoing status is understanding its impact;

    ·       Yet, only 27% address the impact of emerging risks in their risk assessments, while less (23%) capture the likelihood of these potential unknowns;

    ·       When scanning the horizon for future risks, only 24% look three to five years ahead; and

    ·       Only 34% consider emerging risks during the strategy setting process.

    COMMON PRACTICES

    The report details the following common practices used by risk professionals to mitigate or respond to emerging risks:

    ·       Developing risk response strategies;

    ·       Identifying more specific emerging risk scenarios and related response plans;

    ·       Identifying leading risk indicators for ongoing monitoring; and

    ·       Separately considering emerging opportunities and plans.

    The “Navigating Complexities of Emerging Risks” report, located in RIMS Risk Knowledge library, is currently available to members only. To access RIMS thought-leading ERM and SRM content, resources and tools, visit RIMS Strategic and Enterprise Risk Center and RIMS Risk Management Magazine

  • RIMS President's Corner: On The Road Again

    That was fun!  The RIMS team couldn’t be more thrilled with the results from our very first RISKWORLD™. After months of difficult planning – and late nights worrying whether our dream of an in-person meeting would actually become reality – it came together beautifully and exceeded all expectations.

    Risk professionals from far-and-wide hopped on the road again and showed up in San Francisco.  RIMS was proud to welcome nearly 8,500 attendees to this world-renowned risk management experience. What I loved about RISKWORLD was the overwhelming focus on the future.  From sessions and keynote speakers to the animated conversations in our Marketplace and at the social events, future trends and ensuring our organizations are ready for them dominated the conversations. RIMS Show Daily Magazines gives a great recap of each day’s happenings.

    We successfully delivered a hybrid RISKWORLD as well, making our event more inclusive for new attendees to engage with the Society. Our in-person and hybrid RISKWOLRDs were amazing learning experiences – for both attendees and staff – that we know will lead to even greater success in the future. Planning is already underway for RISKWORLD 2023 in Atlanta from April 30 – May 3. Mark your calendars.

    Focused on the future, a new era for RIMS was announced shortly after the conference. The Society is excited to share that Gary LaBranche FASAE, CAE will serve as RIMS next CEO.  Beginning June 1, Gary will bring his wealth of association leadership experience to RIMS and will no doubt inspire and create opportunities for staff, volunteers and the greater risk community. At the same time, we wish RIMS CEO of 18 years Mary Roth an outstanding and well-deserved retirement and sincerely thank her for her invaluable contributions to advancing our profession.

    To find the road to future success, risk professionals need to know where their risk programs stand today. At RISKWORLD, we proudly relaunched the modernized RIMS Risk Maturity Model (RMM)®. The completely revamped model is a guide for strategic risk professionals to identifying their risk program’s maturity level, target areas for improvement and track its progress over time. The model was created by risk professionals, for risk professionals and, for now, the complimentary tool is available to everyone.  

    While we didn’t have to hit the road for it, the first-ever RIMS-WTW Asia Pacific Virtual Risk Conference was also a resounding success and will positively impact the Society’s global development efforts in the region.  A big thank you to WTW and all of the amazing risk professionals who shared their professional journeys and experiences.  I know our team is looking forward to working with WTW on several RIMS-CRMP certification opportunities for business leaders in the area so stay tuned.

    A great sign of progress is growth and RIMS is growing.  Just down the road from me, the Society announced its 80thchapter.  The Greater Bluegrass Chapter – now my hometown chapter – was confirmed by RIMS Board of Directors in April. The confirmation is a testament to the outstanding and dedicated local risk leaders who deserve all the credit for making this happen. Chapters are so important to RIMS.  It is where great ideas are born and great relationships are made. The Society now has 65 chapters in the United States, 10 in Canada and five outside of North America (Australasia, India, Japan, Mexico, New Zealand).  To find a chapter near you, check out this interactive chapter map.

    The fun continues in the second half of the year and I’m looking forward to getting on the road again for an outstanding lineup of RIMS regional events and workshops. And, for those that can’t make the trip, I encourage you to check out all of the new online education that RIMS has added in recent months.

    Again, I can’t express enough how great it was to see the RIMS community in-person. The energy and the passion we witnessed at RISKWORLD was legendary. I’m genuinely optimistic about our profession’s future. Thank you for your continued support and engagement with RIMS.

    Sincerely,

    Patrick Sterling

    RIMS 2022 President 

  • RIMS Announces Gary LaBranche as New CEO

    RIMS, the risk management society®, has announced Gary LaBranche, FASAE, CAE as the Society’s new Chief Executive Officer. LaBranche will succeed longstanding RIMS CEO Mary Roth who announced her retirement in late-2021 after 37 years of service with RIMS. LaBranche will assume his new role on June 1, 2022.

    Since March 2017, Gary LaBranche has served as President & CEO of Virginia-based NIRI: The Association for Investor Relations. NIRI’s members represent 1,600 publicly- traded companies with a combined market cap of $9 trillion.

    Previously, LaBranche has served as CEO for the Association for Corporate Growth, the Association Forum of Chicagoland and two other organizations. In addition, he was a senior executive at the American Society of Association Executives (ASAE) and the U.S. Chamber of Commerce. At the Forum and ASAE he was responsible for identifying, developing, and sharing best practices, models, and innovation in association management. At ASAE he produced the 6,000-person ASAE Annual Meeting.

    ASAE named him the Key Award winner for 2007, the highest award in the association management profession. He was also named the 2012 National Association Executive of the Year. The Association Forum named him the 2019 recipient of the Samuel B. Shapiro Award for Chief Executive Achievement. He is a member of the U.S. Chamber of Commerce’s Association Committee of 100 and is past chairman of the Chamber’s Institute of Organization Management. He was named an ASAE Fellow (FASAE) in 1995.

    A graduate of The Ohio State University and resident of Evanston, Illinois, LaBranche has authored more than 300 articles, podcasts and columns, as well as the book, “The Association CEO Succession Toolkit” published by ASAE in 2018. Additionally, he has consulted and presented to over 300 associations.

    QUOTES

    RIMS CEO Gary LaBranche

    “Risk management makes the world safer, more secure and more sustainable,” said RIMS newly appointed CEO Gary LaBranche. “I am honored to be asked to help advance that important work and pave the way for this dynamic professional community’s continued success. I appreciate all that Mary Roth and the RIMS team have accomplished and look forward to partnering with RIMS leaders and this Society’s powerful and engaged community to continue that legacy.” 

    RIMS Board President Patrick Sterling

    “Recent events have elevated risk management expectations and, as we approached this executive search, we were determined to identify a leader with the skills and experience to help RIMS meet risk professionals’ evolving needs,” said RIMS Board President Patrick Sterling. “Gary LaBranche brings a world of knowledge and a proven track-record as an association management leader. Throughout his career he has demonstrated an unwavering commitment to lifting his staff up, creating opportunities for them to grow and, in turn, achieving impressive results for his previous associations. We look forward to learning from him and are proud to welcome him into the global risk management community.”

    RIMS Outgoing CEO Mary Roth

    “My RIMS journey has been remarkable,” said Mary Roth. “Starting in the Society’s Research and Education department and advancing to its CEO, I am so proud of the progress we have made, the barriers we have broken and all the milestones we have achieved. I am eternally grateful for all the exceptional RIMS staff members, volunteers and risk leaders who have contributed to our success.  Most importantly, throughout my RIMS career I have made some wonderful friendships that I know will carry-on long into my retirement. I want to congratulate our executive search team for their excellent work. Gary LaBranche will add tremendous value to RIMS and this amazing risk management profession.”

    About RIMS
    RIMS, the risk management society®, is a global professional association committed to advancing the practice of risk management throughout the world. We bring networking, professional development, certification, and education opportunities to our membership of 10,000 risk management professionals in over 60 countries. Founded in 1950, the Society represents more than 3,500 industrial, service, nonprofit, charitable and government entities throughout the world. To access RIMS Risk Knowledge resource library and for additional information about the Society, visit www.RIMS.org.

  • RISKWORLD COMMUNITY SERVICE PROJECT TO BRING HOPE AND AID TO HOMELESS FAMILIES IN SAN FRANCISCO

    Risk professionals from around the world will participate in the 14th annual RIMS Community Service Project, an initiative that provides RISKWORLD™ attendees with the opportunity to give back to the local community. Sponsored by ESIS (a Chubb business unit), this year’s project invites attendees to assemble hygiene kits and snack packs for homeless families in San Francisco via the Hamilton Families charity organization.

     

    Hamilton Families is a non-profit organization that has worked to end family homelessness in the San Francisco Bay Area for more than 30 years. Each year, more than 800 families rely on Hamilton Families for shelter, temporary, and permanent housing. Due to the organization’s tireless efforts, over 200 families receive permanent homes each year.

     

    RISKWORLD attendees can participate on Monday, April 11 and Tuesday, April 12 on-site at the Moscone Center. A designated Hamilton Families station will be setup outside of the entrance to the RIMS Marketplace. Those who would like to donate financially, can do so here: https://givebutter.com/risk-world-2022

     

    “Hamilton Families is proud to provide opportunities to families in our community who are struggling to survive and who do not have a place to call their home,” said Kyriell Noon, Chief Executive Officer at Hamilton Families. “We are so grateful to RIMS and the risk management community that is coming to San Francisco for RISKWORLD for taking time out of their conference to recognize this dire problem and show support for our mission of ending family homelessness in the San Francisco Bay Area.”

     

    “RISKWORLD attendees lean heavily on our host city’s dining, hospitality and even transportation amenities and it is important that RIMS support the community that plays such an important role in shaping our attendees’ conference experience,” said RIMS CEO Mary Roth. “On behalf of risk professionals far-and-wide, I want to thank Hamilton Families for this opportunity to support such a noble cause and commend them for the wonderful work they do helping those in need.”  

     

    In 2007, RIMS was one of the first entities to host a large convention in post-Katrina New Orleans.  RIMS first Community Service Day was initiated during that conference to support local families and rebuild infrastructure devastated by the natural disaster.

     

    Those interested in getting more involved after RISKWORLD, Hamilton Families has many opportunities including: in-person teaching or tutoring, providing virtual e-mentoring, creating diaper bag and school supply kits, knitting children’s clothes, purchasing items from the Hamilton Families’ online store and more. Visit www.hamiltonfamilies.org/volunteer for more information.

     

    About RISKWORLD

    Launched in 1963, RIMS annual conference, now RISKWORLD, has routinely attracted some 10,000 risk and insurance professionals at all experience levels, business executives with risk management interests, brokers, insurers and service providers for the ultimate educational and networking experience. In past years, the four-day event has offered more than 160 educational sessions, keynote presentations, special events and an expansive Marketplace Exhibit Hall with nearly 400 exhibitors. To learn more about RISKWORLD or to register, visit www.RIMS.org/RISKWORLD.

  • ELITE RISK MANAGEMENT STUDENTS HEAD TO SAN FRANCISCO AS PART OF RIMS ABSIP Program

    RIMS, the risk management society®, presented 36 students with a 2022 Anita Benedetti Student Involvement Program grant. The program, sponsored by The Spencer Educational Foundation, recognizes the achievements of outstanding undergraduate and graduate risk management and insurance students. The students will receive complimentary registration and funds for travel and accommodations to attend RISKWORLD™, the premier risk management and insurance conference in the world scheduled for April 10 – 13 in San Francisco.

     

    The ABSIP continues to recognize exceptional risk management and insurance undergraduates from outside of North America. The 2022 international group includes six students. One from Lingnan University in Hong Kong; three from the National Insurance Academy in India; and two from Universidad EAFIT in Colombia.

     

    “As business leaders around the world demonstrate a greater commitment to strengthening their risk management capabilities, it is critical that RIMS commits its resources to building a pipeline of talented professionals to meet those expectations,” said RIMS President Patrick Sterling. “Through the ABSIP, we give these dynamic students a first-hand glimpse at the world of opportunity waiting for them as risk professionals. We are proud to work with Spencer to offer this valuable learning experience.”

     

    “Spencer is proud of our long-standing partnership with RIMS and appreciates the opportunity to support student involvement at all RIMS conferences,” said Spencer Executive Director Megan Miller. “The ABSIP program is pivotal for students, not only providing them with the funds to experience the conference but it also creates genuine excitement on their campuses about the opportunities and rewards of entering into the risk management and insurance industries.”

     

    This year’s ABSIP students are:

    • Abby Daunt, Florida State University
    • Alexis Rossilli, University of Akron
    • Alfonso Tello, University of Wisconsin-Madison
    • Aliyah Abdullah, University of Hartford
    • Anne Bowen, Indiana State University
    • Bailey Bennett, Troy University
    • Claudia Matilda Vevera, Florida State University
    • Daniel Landaverde, University of North Texas
    • Emily Giles, University of North Texas
    • Emily Jung, University of Calgary
    • Emily Selenis, Illinois State University
    • Ethan Flynn, Ball State University
    • Geoffrey Fong, University of Southern California
    • Hawreen Rawanduzy, University of Colorado Denver
    • Joshua Rose     , Missouri State University
    • Juan Carlos Pedroza Sanchez, EAFIT (Colombia)
    • Katherine Alexander, University of Wisconsin-Madison
    • Kristian Marino, St. John's University
    • Kristy Fugel, University of Calgary
    • Madeline Lang, University of Alabama
    • Maroun Harb, St. Mary's University (Texas)
    • Natalia Pérez Muñoz, EAFIT (Colombia)
    • Nathan Chandler, University of North Carolina-Charlotte
    • Nicole Sabin    , Illinois State University
    • Rachel Balz, University of Georgia
    • Rebecca Leigh, Georgia State University
    • Rudrawar Prasad Pandurangrao, NIA Pune (India)
    • Sophia Marcum, University of Akron
    • SRI PRIYA VARSHINI, NIA Pune (India)
    • Sumeet Hiralal Prajapati, NIA Pune (India)
    • Tanvi Yadav, University of Southern California
    • Tiffany Li, University of Georgia
    • Victoria Pommells, Georgia State University
    • Zane Smith, St. Mary's University
    • Zixin Chen, Lingnan University (Hong Kong)
    • Zoie Walters, Olivet College

     

    Initiated as a pilot program at the 1978 RIMS Annual Conference, the program recognizes exceptional students involved in the study of risk management, and has grown into a differentiating part of the RIMS Annual Conference and Exhibition. The program became known as the Anita Benedetti Student Involvement Program in 1997 to honor Ms. Benedetti's commitment to developing the next generation of risk professionals.

     

    For more information about opportunities and resources developed for risk management students, visit RIMS Student Resource Center at www.rims.org/community/students.  For more information about Spencer, visit www.Spencered.org.

     

    The Spencer Educational Foundation

    The Spencer Educational Foundation is a 501(c)(3) nonprofit organization funding the education of tomorrow’s risk management and insurance leaders through scholarships, grants, internship opportunities, on and off campus experiential learning, and support of risk management/insurance curricula. Since Spencer was founded in 1979, we have awarded nearly $9 million in scholarships and over $7 million in grants to universities and professional institutions impacting an estimated 70,000 students through our programming. For more information, please visit us at www.spencered.org.

     

    About RISKWORLD

    Launched in 1963, RIMS annual conference, now RISKWORLD, has routinely attracted some 10,000 risk and insurance professionals at all experience levels, business executives with risk management interests, brokers, insurers and service providers for the ultimate educational and networking experience. In past years, the four-day event has offered more than 160 educational sessions, keynote presentations, special events and an expansive Marketplace Exhibit Hall with nearly 400 exhibitors. To learn more about RISKWORLD or to register, visit www.RIMS.org/RISKWORLD.

  • RIMS President Corner: CELEBRATE

    Risk professionals tend to be brought in to manage our organizations’ most challenging situations, and the last few years there has been no shortage of those. We must be emotionally strong and approach each new risk with optimism. Despite all odds, the risk management success stories have been abundant, and we all deserve to celebrate what we have accomplished.

    That celebration begins at RISKWORLD™, April 10-13 in San Francisco. More than 300 speakers have signed up to share their experiences during the more than 250 education sessions. The key to successful risk management is learning from others and we know our speakers’ contributions will help pave a way for the RIMS community to enjoy future success.

    It’s time to celebrate in-person learning again. After halting all in-person professional development workshopssince the Covid-19 outbreak in 2020, the Society will resume offering in-person learning opportunities starting immediately before and after RISKWORLD. Here’s a list of the upcoming workshops in San Francisco.

    We all learn differently. RISKWORLD will feature a variety of different learning experiences from hour-long sessions to 20-minute sessions in the Marketplace.  Learning hubs have been created that will focus on specific areas that include: Thought Leader Theater, the Global Studio, Wellness ZENter, Innovation Hub, and DE&I Lounge.  For those that can’t make it to San Francisco, RISKWORLD will be the first RIMS annual conference to offer virtual access. There are no excuses not to join the fun.

    The RISKWORLD Marketplace is the center of it all. Hundreds of exhibitors will line the exhibition hall’s walkways, giving our attendees the inside track on the latest solutions, technologies and services.  These amazing providers not only support risk professionals during RISKWORLD, but are valued RIMS partners year-round. We sincerely thank them for their support and can’t wait to see what they have in-store for us this year. A complete list of our 2022 RISKWORLD exhibitors is available here.  

    As they do every year, our keynote speakers will inspire as each of them brings a little something different to the table. Michael C. Bush will kick things off at the Opening General Session where he will share the power of building an inclusive corporate culture. Rachel Sheerin, our Awards & Leadership Luncheon speaker, will dissect the perils of burnout, giving us a chance to reflect on our mental health and the mental health of those around us. Last but not least, Peter Leyden will close things out at the Conference Finale. He’s futurist … but an optimistic one.  It’s going to be great to hear and learn from these award-winning speakers.

    How can we talk about the future, without celebrating the people who will one day lead in it?  Building a strong pipeline of talented risk professionals is critical to this profession’s future and, at RISKWORLD, we are excited to welcome students from around the world to experience this profession first-hand. The Society recently announced the eight final university teams that will compete in this year’s Spencer-RIMS Risk Management Challenge. And, our Anita Benedetti Student Involvement Program will give 36 exceptional risk management students grants to travel to RISKWORLD.

    A lot to be excited about but tops on that list is celebrating being back together. It’s been too long since RIMS has been able to welcome the world’s risk management community to one place.

    Get ready to build relationships, strengthen skills and elevate this profession. Let’s celebrate our past achievements by focusing on our future ones.  See you in San Francisco.

    Sincerely,


    Patrick Sterling
    RIMS 2022 President

  • WTW partners with RIMS to advance the practice of risk management in APAC to create resilient organi

    WTW (NASDAQ: WTW), a leading global advisory, broking and solutions company, announced today that it is partnering with RIMS, the risk management society®, to advance the practice of risk management for organizations in Asia Pacific (APAC). The three-year collaboration aims to promote the development of risk professionals in the region and equip them to succeed in an evolving and challenging landscape.

     

    Kicking off the partnership is the launch of the first RIMS-WTW Asia Pacific Risk Conference 2022. Jointly organized by RIMS and WTW, the inaugural conference will be held virtually from 26 to 28 April. It will bring together risk management professionals, business strategists and government officials, as well as executives responsible for managing organizations’ risk portfolios from across APAC. Themed “Risk Resilience Reimagined”, the Risk Conference will offer insights and ideas that are innovative, bold and achievable for business leaders and risk professionals so that they can augment their capabilities to build robust risk management, enabling their business to thrive in this region.

     

    Simon Weaver, Head of Corporate Risk & Broking, Asia and Australasia, and Head of Australasia, WTW, said: “As the coronavirus becomes endemic, a broad set of societal risks have become ever-present in business decision making for all organizations today. High impact risks such as climate, geopolitics, health, financial, supply chain, technology/cyber and human capital are likely to continue to increase in frequency and with simultaneous occurrence. Business leaders and risk managers need to stay vigilant, rethink their approach and raise their game in being able to respond to both threats and opportunities in an agile and timely way while continuing to maintain core business operations.”

     

    “It is important for organisations in APAC to adopt a culture of adaptability and be ready to act decisively when these events happen, minimizing disruptions to their businesses as risk becomes a mainstream element of business decisions. We are therefore delighted to be partnering with RIMS on a series of events, research and skillset development for the risk management community in this region to equip them with a broad array of capabilities to strengthen oganizational resilience and transform tomorrows.”

     

    RIMS President Patrick Sterling said: “Organizations around the world have witnessed the undeniable value of strong risk management capabilities and will continue to lean on their risk teams to set strategies, support initiatives and drive innovation. As expectations rise, it’s critical for risk professionals to build upon their skills and knowledge to effectively establish resilient corporate cultures. RIMS is proud to enter into this strategic partnership with WTW and is looking forward to exploring risk management trends, best practices, challenges and opportunities at our inaugural event.”  

     

    For more information on the programme of RIMS-WTW Asia Pacific Risk Conference, visit: https://www.wtwco.com/en-SG/Insights/campaigns/asia-pacific-risk-virtual-conference

  • EIGHT UNIVERSITY TEAMS SELECTED FOR RISK MANAGEMENT COMPETITION AT RISKWORLD™

    Eight university risk management teams will compete in the 2022 Spencer-RIMS Risk Management Challenge during RISKWORLD, RIMS rebranded annual conference and exhibition. Given a case-study that was developed by the risk executives at Starbucks Corporation, the student teams will present their strategies in front of an esteemed panel of risk professionals.

     

    The winner will be announced at a Spencer reception held during RISKWORLD in San Francisco on April 11th.  The eight university teams chosen to compete are:

     

    • Appalachian State University
    • Fudan University (China – presenting virtually)
    • Peking University (China – presenting virtually)
    • St. Mary’s University (Texas)
    • University of Hartford
    • University of Southern California
    • University of Georgia
    • University of Wisconsin

     

    For more information about opportunities and resources developed for risk management students, visit RIMS Student Resource Center at www.rims.org/community/students.  For more information about Spencer, visit www.Spencered.org.

     

    The Spencer Educational Foundation

    The Spencer Educational Foundation is a 501(c)(3) nonprofit organization funding the education of tomorrow’s risk management and insurance leaders through scholarships, grants, internship opportunities, on and off campus experiential learning, and support of risk management/insurance curricula. Since Spencer was founded in 1979, we have awarded nearly $9 million in scholarships and over $7 million in grants to universities and professional institutions impacting an estimated 70,000 students through our programming. For more information, please visit us at www.spencered.org.

     

    About RISKWORLD

    Launched in 1963, RIMS annual conference, now RISKWORLD, has routinely attracted some 10,000 risk and insurance professionals at all experience levels, business executives with risk management interests, brokers, insurers and service providers for the ultimate educational and networking experience. In past years, the four-day event has offered more than 160 educational sessions, keynote presentations, special events and an expansive Marketplace Exhibit Hall with nearly 400 exhibitors. To learn more about RISKWORLD or to register, visit www.RIMS.org/RISKWORLD.

  • RIMS ANNOUNCES ITS 2022 LEGISLATIVE PRIORITIES

    Advocating for the risk management profession is an integral part of RIMS, the risk management society®, mission. The Society’s External Affairs Committee met last month to review existing and looming legislative activity that could impact the profession.  The committee identified these issues, activities, and resources as RIMS top legislative priorities for 2022:

     

    PANDEMIC RISK INSURANCE ACT (PRIA)

    Introduced by Congresswoman Carolyn Maloney (D-NY) on November 2, 2021, the proposed legislation would create a Federal program that provides a transparent system of shared public and private insurance-backed compensation for business interruption losses resulting from a pandemic or an outbreak of communicable disease. In doing so, it would help create a much softer market for buyers of pandemic risk insurance.

    CYBER SECURITY AND DATA PRIVACY

    As technology continues to evolve and organizations become more dependent on digital communication and online commerce, RIMS advocacy efforts in this arena will focus on helping to define a Federal framework for protecting privacy and data systems. The American Data and Dissemination Act, the Consumer Protect Act and the Data Care Act were presented in previous Congressional sessions but, currently, no similar bill is pending.

     

    Additionally, RIMS will explore the patchwork of State-by-State laws that govern data privacy, including the California Consumer Privacy Act, the Massachusetts Data Privacy Act and others. 

     

    RISK PAC – THE RIMS POLITICAL ACTION COMMITTEE

    RIMS political action committee – RISK PAC – was formed to allow RIMS members to provide financial support to U.S. elected officials who value legislation that aligns with RIMS priorities.  All U.S. RIMS members are permitted to contribute to RISK PAC and donations of any amount are accepted. 

     

    RISK PAC will hold its annual reception at RISKWORLD 2022 in San Francisco on Monday, April 11.  RISKWORLD attendees are invited to attend and connect with RIMS External Affairs Committee members to learn about the Society’s priorities and how to get involved. To learn more about RISK PAC, visit www.RIMS.org/advocacy.  To contribute, visit https://cqrcengage.com/rims/riskpac1.

     

    RIMS LEGISLATIVE SUMMIT

    Scheduled for June 7 – 9, 2022, the RIMS Legislative Summit will be in-person in Washington, DC.  On June 8th,  attendees will have access to a series of educational sessions delivered by risk professionals, elected officials and government representatives.  The sessions will cover the top legislative issues impacting risk management and insurance, as well as strategies for effective lobbying. On June 9th, attendees will meet with elected officials and their legislative staffs to share RIMS position on current and future legislation.

     

    For more information about RIMS Advocacy, visit www.RIMS.org/Advocacy.

  • Attend Free ORSA and ERM Panel Discussion, March 15

    Join us for “ORSA and ERM – A Panel Discussion,” presented by IASA and RIMS, on Tuesday, March 15 at 1:45 pm ET. Receive an introduction to ORSA, what it is, why we do it, value to the company, as well as how it contributes to the strategic plan for the company.

     

    Understand possible key risks for 2022. Gain a deeper understanding of Enterprise Risk Management (ERM) and how it is impacted by technology, cyber security, inflation, business continuity, third-party and talent management.

     

    Speakers:

    • Lorie Graham, Senior VP and Chief Risk Officer, American Agricultural Insurance Company
    • Jana Utter, Vice President, Enterprise Risk Management, Centene Corporation
    • Rod Van Genderen, Operational Risk Program Leader, Enterprise Risk Management, Securian Financial Group
    • Caroline Smythe, Manager, Risk and Accounting Advisory, Plante Moran

     

    Learn more and register:

    https://www.rims.org/education/online-learning/webinars/orsa-and-erm-a-panel-discussion

  • RIMS ANNOUNCES MAJOR UPDATE TO RISKWORLD COVID-19 VACCINATION POLICY

    To align with recent Covid-19 vaccination policy changes made by the San Francisco Health Department, RIMS Board Directors has agreed to amend the Society’s vaccination policy for RIMS RISKWORLD™. 

     

    The new RISKWORLD 2022 vaccination policy now requires attendees (including exhibitors) to satisfy one of the following criteria:

     

    1. If an attendee is up-to-date with their Covid-19 vaccinations (meaning vaccinated AND boosted), the attendee will NOT be required to produce a negative covid test result;

     

    1. If an attendee is up-to-date with their Covid-19 vaccinations but is NOT YET ELIGIBLE for the booster, the attendee will NOT be required to produce a negative covid test result;

     

    1. If an attendee is vaccinated, is ELIGIBLE for the booster but has NOT received the booster, the attendee will be required to produce a negative Covid-19 test result (within 48 hours of entering the Moscone Center for a PCR test; within 24 hours for an antigen test);

     

    1. If an attendee is not vaccinated for Covid-19, the attendee will be required to produce a negative Covid test result (within 48 hours of entering the Moscone Center for a PCR test; within 24 hours for an antigen test).

     

    1. International attendees or others who have received a Covid-19 vaccination that is not recognized by the CDC will be required to produce a negative Covid test result (within 48 hours of entering the Moscone Center for a PCR test; within 24 hours for an antigen test).

     

    As a result of this policy change, RIMS will extend the RISKWORLD early-bird rate for an additional week (deadline is now March 7, 2022).  To register, visit www.RIMS.org/RISKWORLD

     

    PLEASE NOTE:

    • Home testing kits WILL NOT be accepted as proof of a negative Covid test.  As a convenience for attendees, Covid-19 testing will be available at the San Francisco Marriott Marquis on Saturday, April 9 and Sunday, April 10. Attendees who opt for on-site testing will be responsible for an administrative fee of $49 USD. Testing is not limited to the RIMS designated San Francisco Marriott Marquis testing site. Attendees may also provide a proof of a negative test from an official testing center or laboratory.

     

    • Attendees who opt for on-site testing should recognize that they will not be admitted into the Moscone Convention Center until the lab confirms a negative result. Please plan accordingly.

     

    • RIMS will not provide conference registration fee or accommodation refunds to individuals who test positive.

     

    • Private businesses in San Francisco may have their own vaccination and/or masking requirements. Please plan accordingly.  

    RIMS has employed a third-party vendor that specializes in conducting health screenings, as well as validating the authenticity of vaccine documentation.  Registrants will receive an email to confirm their vaccination status in March.

     

    RIMS Board of Directors and staff will continue to monitor the Covid-19 global pandemic and its impact on both domestic and international populations. Its leadership reserves the right to amend this vaccination policy accordingly. For questions about RIMS vaccination policy and/or eligibility to attend a RISKWORLD email Events@RIMS.org.

  • RIMS President's Corner: We're Cooking

    Believe it or not, there are some similarities between Texas Roadhouse and RIMS.  Top on that list is the dedication displayed by both leadership teams, as well as the passionate employees – and in RIMS case volunteers too – who share common goals and who embrace the importance of collaboration. Some might be easing their way into 2022, but RIMS’ professional community is cooking.

    We kicked-off the year with RIMS TechRisk | RiskTech conference. The two-day virtual event explored the conundrum that many risk professionals are encountering as our organizations become even more dependent on technology. The conference was broken up into two parts.  The first looked at the avalanche of cyber concerns and challenges that organizations are facing, while the second part dove into the awesome new tech solutions that risk professionals are using to keep their assets protected and companies relevant.  I want to thank all the companies that supported this event and the speakers for sharing their experiences.

    Also in this first month, I had the distinct honor to join a Institute of Actuaries of India panel discussion.  This esteemed group recorded our session titled, “Corporate Risk Governance in the Age of Disruptions” and we had a great conversation about risk management’s power to help businesses emerge stronger post-pandemic. The full session will air during their annual conference, February 10-12. 

    Not just RIMS, but this profession is cooking as well.  RIMS Compensation Survey 2021 was released this month and it reported some great news. According to it, risk professionals at all levels and responsibilities in the U.S. experienced an average 14.4% base salary increase in 2021 compared to 2019, while Canadian practitioners experienced an average 18.8% increase in the same period. Every two years this survey gives us a snapshot of the profession, examining everything from the compensation impacts of industry, location, and titles to the education, gender and experience of the professional. The 2021 survey is now available in the RIMS Bookstore.

    RISKWORLD 2022, RIMS newly rebranded annual conference, is now our top priority.  Our teams have been working around the clock to make sure this year’s event lives up to the standards that RIMS global community has come to expect. The education program is set (with some minor additions here-and-there), the commitment from our exhibiting partners is strong and registration is trending up.

    One of the new additions this year will be our Diversity, Equity and Inclusion Lounge sponsored by Marsh. This Society is determined to make RISKWORLD an inclusive experience for people from all backgrounds and experiences. Additionally, RISKWORLD will provide greater access for global audiences and those who can’t travel at this time. Those individuals will be able to log-in and join some of the excitement virtually. 

    The RIMS team can’t express enough how excited we are to welcome the world’s risk management community back to our annual event in San Francisco from April 10-13.  Risk management is a relationship business and regaining the opportunity to meet face-to-face with our fellow practitioners, colleagues, business partners and friends is paramount to our success. Early-bird registration ends February 18th.  Visit the www.RIMS.org/RISKWORLD2022 to learn more, register and be a part of something special.

    RIMS is looking forward to serving-up some more outstanding opportunities for risk professionals to strengthen their skills, boost their networks and, once again, demonstrate the value of our work.

    Sincerely,

    Patrick Sterling
    RIMS 2022 President

  • RISK PROFESSIONALS SALARIES SOAR IN 2021

    Risk professionals at all levels and responsibilities in the United States experienced an average 12.6% base salary increase in 2021 compared to 2019, while Canadian practitioners experienced an average 15.9% increase in the same period, according to the RIMS 2021 Compensation Survey. The bi-annual survey is now available in the RIMS Bookstore at rims.org/resources/bookstore.

     

    The survey provides detailed compensation analysis by industry, location, and position for virtually all risk professional positions. The survey also explores the impact of education, experience, and demographical data on compensation, as well as benefits and additional cash compensation programs available to practitioners.

     

    Compared to the 2019 survey, key findings from the RIMS 2021 Compensation Survey include:

     

    • The median annual base salary for United States risk management professionals in 2021 was $135,000 up from $118,000 in 2019; and in Canada it was $120,000 up from $101,000;
    • U.S. executives with the title and responsibilities most closely aligning with Director of Insurance and Risk Management saw the biggest salary increase, nearly $19,000 in the two-year period;
    • Both male and female risk professionals in United States experienced similar pay increases, 12.5% and 12.8% respectively; while in Canada, women saw raises of more than double that of men – 18% increase for females versus 8% for males;
    • Risk management certifications and designations are held by an overwhelming majority of respondents, 64% in United States and 84% in Canada;

     

    “With business leaders leaning heavily on their risk management teams to address volatility, disruption and uncertainty, the importance of investing in this critical business function has never been more apparent,” said RIMS CEO Mary Roth. “Beyond managing adversity, risk professionals are bringing solutions to strategic conversations that empower resilience and drive innovation. These compensation increases reflect the undeniable value risk professionals contribute to their organizations’ success.”

     

    The survey was conducted by email and disseminated to qualified RIMS professional members and non-members. It comprises data from 1,213 completed surveys submitted by full-time risk professionals and offers findings for seven different risk management job titles. The RIMS 2021 Compensation Survey incorporates data from 1,039 risk professionals in the United States and 174 in Canada.

      

    The RIMS 2021 Compensation Survey is available to both members and non-members. To order a copy, visit rims.org/resources/bookstore. Survey contributors are entitled to a complimentary copy of the survey’s Executive Summary. The full survey is $50 for contributors; $250 for non-contributor members; and $500 for non-contributor non-members.

  • RIMS President's Corner: Courage

    Courage was on full display over the past couple of years.  From healthcare professionals risking their lives for others, to frontline workers showing up to ensure our communities had access to the goods and services they needed and business leaders who had to make bold decisions to salvage the future of their organizations so that thousands of employees could provide for their families.

     

    It takes courage to take action, express ideas and make difficult decisions that might be considered counter-intuitive, unpopular and, in some cases, dangerous.

     

    Many of our heroes were able to be courageous because of proactive risk management. Behind the scenes and knowing that they might face resistance, the global risk management community demonstrated their courage by fearlessly:

    • Deploying training and education that allowed workers to respond quickly and effectively to change;
    • Delivering ideas and solutions to enhance compromised and outdated processes;
    • We raised those difficult “what-if” questions that, ultimately, established corporate cultures that integrate risk management into decision-making;
    • While bridging gaps between departments to foster greater dialogue about risk and strategy to address temporary, but immediate, obstacles.

     

    During my RIMS Presidency, I will encourage risk professionals around the world to step forward – out from behind the scenes – and Be Courageous. We can achieve that together by:

     

    • Making professional development a priority so that we are prepared for emerging and dynamic risks but also to create opportunities for ourselves to excel;
    • Engaging our networks, bravely asking questions when we don’t have the answers and sharing them when we do;
    • Stepping out of comfort zones to lead conversations about strategy and innovation;
    • Speaking up, not only demanding essential resources but also articulating the value we add; and
    • Aiming high, setting goals and then challenging ourselves to do better and go further.

     

    Just like the heroes who sacrificed everything for others, to be courageous in our line of work, you must have confidence. Throughout the year, RIMS Board Directors and Staff will set strategies to develop confidence-boosting resources and opportunities that will empower our global risk community to elevate their programs, achieve greatness in the careers and be courageous.


    I am beyond proud to serve as RIMS 2022 President and can’t wait to work with this outstanding Board, as well as the Society’s dedicated volunteers and staff to continue to create opportunities for risk professionals around the world.”

    Sincerely,

    Patrick Sterling
    RIMS 2022 President

     

  • PATRICK STERLING NAMED 2022 PRESIDENT OF RIMS

    RIMS, the risk management society®, today announced that Patrick Sterling will lead the Society as president for the 2022 term, effective January 1. 

     

    Mr. Sterling is Vice President of Legendary People at Texas Roadhouse in Louisville, Kentucky. A 34-year veteran of the restaurant industry, Patrick oversees executive and management staffing, benefits and compensation, human resource administration, risk management, asset protection and employee relations. Prior to joining Texas Roadhouse in 2004, Patrick served in several leadership positions for Ruby Tuesday.

     

    He has been a member of RIMS for 17 years and was actively involved with RIMS Kentuckiana Bluegrass Chapter, as well as volunteering on RIMS External Affairs, Finance and Audit, and Annual Conference Programming committees.  Mr. Sterling joined RIMS global board of directors in 2018 and has served as the Society’s Board Secretary, Treasurer and Vice President. He was a Risk Manager of the Year Honor Roll inductee in 2016 and a “Risk Innovator” award winner in 2009.

     

    “The risk management profession has reached a pivotal moment in its history,” said Patrick Sterling. “As organizations moved quickly to address tremendous volatility and uncertainty, the value of strong risk management has never been more apparent to business leaders. It’s up us to keep this momentum going.

     

    “To do this, risk professionals must be courageous; unafraid to step-up to lead strategic conversations and deliver answers that pave the way for growth and innovation. I am beyond proud to serve as RIMS 2022 President and can’t wait to work with this outstanding Board, as well as the Society’s dedicated volunteers and staff to continue to create opportunities for risk professionals around the world.”

     

    Officers on RIMS 2022 Board of Directors:

    President: Patrick Sterling, SPHR, SHRM-SCP; Vice President, Legendary People, Texas Roadhouse.

    Vice President: Jennifer Santiago, MBA, RIMS-CRMP, ARM; Director, Risk Management and Safety, Wakefern Food Corp.

    Treasurer: David E. Arick, ARM; Assistant Treasurer, Global Risk Management, International Paper Company.

    Secretary: Kristen Peed, AIC, ARM-E, CPCU, CRM, RPLU; Director of Corporate Risk Management, CBIZ, Inc.

     

    New Board Members:

    Manuel Padilla; ARM, AIC, SPPA, CPRM, Vice President, Risk Management & Insurance, MacAndrews & Forbes Incorporated.

    Christie Weinstein; Director, Risk Management, Honeywell International Inc.

     

    Incumbent Board Members:

    Kevin Bates; Group Head of Risk & Insurance, Lendlease.

    Penni Chambers; Vice President, Risk Management, Hillwood a Perot Company.

    Barry Dillard; Vice President, Risk Management Services, The Walt Disney World Resort and Disney Cruise Line.

    Twane Duckworth; Managing Director – Risk Management, City of Garland, Texas.

    Tina Gardiner; Manager, Risk Management Services, The Regional Municipality of York (Ontario).

    Christy Kaufman, CPCU; Vice President of Risk Management, Zillow Group.

    Ex Officio: Ellen R. Dunkin, Esq.; Senior Vice President, General Counsel & Chief Risk Officer, Amalgamated Life Insurance Company, a Member of the Amalgamated Family of Companies.

     

    For more information about RIMS leadership, visit www.RIMS.org.

  • RIMS President's Corner: One World

    As I travelled the world virtually over the past year, sharing RIMS insight with risk management communities far-and-wide, I saw just how similar we all are.  It did not matter the region of the world, the theme of the conference or chapter program. Around the world, the RIMS network is united in thought, recognizing the indispensable value we can add to our organizations and, then, demonstrating our commitment to making this profession even stronger.

    One of the most special qualities of this profession is the way we share our experiences and, beyond that, how we learn from those experiences together. There is no bigger example of this than RIMS Annual Conference & Exhibition.

    However, as we have learned from the past couple years, it’s critical that we adapt to the world around us to ensure that we are delivering on our promises and providing indispensable opportunities for our global risk community.

    So, this month, we launched RISKWORLD™, our new and improved annual conference. On April 10-13, 2022, in-person in San Francisco, RISKWORLD will welcome the global risk management community, insurance and brokerage industry leaders, business strategists and professionals at all levels. It will offer a global perspective, thought-leading insight and unparalleled networking opportunities for us to build resilient business strategies and achieve organizational and personal success. The Society’s world-renowned event will also be its first hybrid annual conference, creating greater inclusivity for a much more diverse audience. Registration is now open and we can’t wait to share more about this can’t-miss experience.

    RIMS world tour continued in December.  RIMS Risk Forum India was a great success.  While I presented virtually, the engagement on the online platform was outstanding and we were proud to welcome nearly 500 attendees. A lot of great insight was shared and I want to encourage you to check out the two new reports from the conference. The Study on the Cyber Risk Landscape in India 2021 report that we completed with JD BODA and the Marsh RIMS Excellence in Risk Management India report are both available in our Risk Knowledge library.  I want to thank our partners in the region and the amazing RIMS India Chapter volunteers for their support.

    The learning continues this week with two RIMS workshops with Applying & Integrating ERM and Contractual Risk Transfer.  If you haven’t yet, I encourage you to download the RIMS Mobile App to keep track of more upcoming learning experiences – including the RIMS-CRMP certification prep course. Let’s make professional development our priority in the New Year.  

    As 2021 comes to a close, it’s time to reflect. A first-of-its-kind experience with RIMS LIVE 2021.  Outstanding regional events across the U.S, in Asia and Europe and the glimmer of hope that we are seeing as we return to in-person meetings like the recent RIMS ERM Conference in New York.

    To say a lot has changed in a year would be an understatement. However, we must learn from this and proactively re-assess our programs and strategies.  Business leaders are recognizing the essential role we play within the organization and are inviting more and more of us to those strategic conversations.  Don’t lose this momentum. As a globally, united community, we have the power to impact change, drive innovation and advance this indispensable profession.

    This unbelievable year as RIMS President would not have been possible without the countless individuals who supported me along the way.  I will start with all the business leaders at Amalgamated Life Insurance Company, as well as my team there.  A big thank you to the amazing risk professionals serving with me on RIMS Board of Directors. And, RIMS Staff, led by RIMS CEO Mary Roth. Thank you.

    My final “thank you” goes to you, our community. RIMS is a global risk management society, led by risk professionals like yourselves.  I want to thank all of the risk professional volunteers who serve on our committees and councils, who run our chapters, who speak at our conferences and who share their experiences with us. RIMS is great because of you and I couldn’t be more humbled than to represent the exceptional professionals who comprise this society.  

    Happy Holidays, Happy New Year and all the best in 2022.

    Sincerely,

    Ellen Dunkin
    RIMS 2021 President

  • HEALTH, ECONOMIC AND CYBERATTACKS REMAIN TOP RISK CONCERNS FOR INDIAN COMPANIES: MARSH/RIMS STUDY

    For the second consecutive year, the continued effects of the COVID-19 pandemic and concerns about a future public health crisis were top-of-mind for Indian business leaders with 30% of survey respondents choosing it as the most impactful short-term risk, according to a joint report titled Excellence in Risk Management India 2021: Advancing Towards Resilience by Marsh, the world’s leading insurance broker and risk adviser, and RIMS, the risk management society®.

     

    Respondents viewed a prolonged recession as the number two short-term risk, followed by cyberattacks and data fraud. It is worth noting that both economic worries and cyber risks are generally seen as being heightened by the pandemic, the Excellence in Risk Management India 2021 survey showed.

     

    Interestingly, in the second year of the pandemic, concern around cyberattacks due to a change in working patterns and lack of information intensified. Many employers in India are looking at transitioning to a more flexible working system. Some extent of remote work is expected to remain, leading to concerns of increased cyberattacks due to unsecured home networks. Yet, less than a quarter of Excellence India survey respondents said they were fully prepared for a near-term or long-term cyberattack.

     

    This year’s report also delves into Indian corporates’ preparedness for these risks. Only 10% of survey respondents said they are fully prepared for the continued fallout from COVID-19 or a new epidemic/pandemic. While a staggering 58% of the respondents are between “not prepared” to “somewhat prepared.”

     

    The COVID-19 pandemic had a far-reaching impact on both organisations and individuals, which could also be seen in people risks becoming an important component of organisations’ risk management. Around 90% survey respondents indicated that their human capital was impacted as a result of the pandemic. Indian corporates actively took steps to safeguard employee health and well-being as a part of their effort to retain talent, the report said.

     

    “The past two years have shown the toll that a low frequency high impact event can take on organisations, and the importance of being sufficiently prepared for such risks. As interdependencies further increase, the risk landscape becomes even more complex. Organisations need to monitor their preparedness when it comes to these risks and invest in developing resilience,” said Sanjay Kedia, Country Head and CEO, Marsh India.

     

    “Indian companies are at an important juncture. Their ability to develop resilience against emerging risks will determine their ability to survive and thrive.”

     

    Achieving the right level of preparedness with a balance between risk transfer and risk mitigation is an important aspect of advancing towards resilience. Despite the high potential losses associated with emerging risks, there is still scope for further development when it comes to coverage for these risks, with half of Excellence India survey respondents said that available insurance does not cover all of their organisation’s critical emerging risk needs.

     

     

    “In the face of so much uncertainty, global business leaders have recentered their focus on risk management and insurance strategies to effectively prepare for future challenges and leverage new opportunities,” said RIMS President Ellen Dunkin. “Key to that preparation is having a network of professionals that is willing to share their experiences. RIMS is committed to uniting the risk management and insurance communities to facilitate this important exchange of best-practices and deliver powerful insight like that found in this Marsh, RIMS report.”

     

    About this report

    RIMS and Marsh have teamed up to help risk professionals understand the growing concerns of senior business leaders in India, identify gaps in expectations and performance, and share opportunities to build stronger, more resilient risk management capabilities and organizations.

     

    This report is based on 242 responses to an online survey with C-suite executives and risk professionals from leading firms conducted by Marsh and RIMS in August 2021, along with expert inputs from Marsh and RIMS specialists. We hope that in the coming years, we can further expand and deepen the findings of this survey.

     

  • RIMS RISK FORUM INDIA – APPLYING RESILIENCE: A CATALYST FOR SUSTAINABILITY

    The virtual RIMS Risk Forum India 2021 will welcome risk professionals and business leaders from across the region to share their experiences building more resilient risk management programs that have enhanced processes, improved safety, strengthened cybersecurity, elevated corporate reputation and fortified balance sheets. RIMS, the risk management society®, is a global professional association committed to advancing the practice of risk management throughout the world.

     

    Registration for the two-day virtual event, scheduled for 3 - 4, December, is now open.All sessions will be recorded and made available to registrants for 60 days following the event.

     

    The Forum will feature keynote addresses by Ajay Srinivasan, Chief Executive Officer at Aditya Birla Capital Limited (ABCL), and Dr. Soumya Kanti Ghosh, Group Chief Economic Advisor at the State Bank of India. The agenda also features thought-provoking panel discussions and educational presentations that include:

     

    • What COVID-19 Has Taught Us About ESG Risks and Why Risk Management Needs to Change
    • Breaking the Chain: How Understanding Business Interruption Exposures Can Mean Supply Chain Resilience
    • Marsh-RIMS Excellence in Risk Management: State of Risk Management in India 2021
    • Climate Risk and Your Path to Resilience
    • Cyber Risk Management: A Priority for a Resilient Economy

     

    RIMS continues to invest in developing, promoting and advancing risk management in India and, in 2020, launched RIMS India Chapter. Professionals interested in joining the chapter or learning more about the Society’s global initiatives can visit www.RIMS.org/global or email India@RIMS.org. Additionally, the Society has a dedicated RIMS India LinkedIn page, RIMS India WhatsApp to engage and inform the business community in the country. 

  • RIMS 2022 RISKWORLD™ SOCIETY REINVENTS WORLD’S LARGEST GATHERING OF RISK MANAGEMENT AND INSURANCE

    RIMS, the risk management society®, is ready to welcome the world’s risk management community, insurance and brokerage industry leaders, business strategists and professionals at all levels to RIMS 2022 RISKWORLD™ scheduled for April 10-13 in San Francisco. RISKWORLD™ will also be the Society’s first hybrid annual conference, breaking down barriers and creating greater inclusivity for all who are interested in joining this career-boosting experience. Registration is now open for RIMS members and will open for nonmembers on December 1.

     

    RISKWORLD, the Society’s renowned annual conference, has been reimagined to keep pace with the rapidly evolving risk landscape while continuing to empower risk professionals to drive innovation and deliver value. Through the exchange of knowledge and experience, RISKWORLD will offer a global perspective, thought-leading insight and unparalleled networking opportunities for the risk management community to build resilient business strategies and achieve organizational and personal success. In addition to the in-person event, some RISKWORLD experiences will be available virtually. 

     

    “To say ‘a lot has changed since the last time RIMS hosted its annual conference in 2019’ would be an understatement,” said RIMS CEO Mary Roth. “New risks have emerged. Known risks have evolved and businesses priorities and strategies are shifting faster than ever before.

     

    “To support risk professionals and the global business community as they face a world of dynamic challenges, RIMS has reimagined its annual conference and exhibition. RIMS RISKWORLD will break boundaries, reach far beyond traditional risk management conversations and deliver an experience that our attendees expect, value and won’t forget. RIMS is ready to re-unite the risk management world and connect in-person after a difficult two-year pause.” 

     

    Launched in 1963, RIMS annual conference, now RISKWORLD, has routinely attracted some 10,000 risk and insurance professionals at all experience levels, business executives with risk management interests, brokers, insurers and service providers for the ultimate educational and networking experience. In past years, the four-day event has offered more than 160 educational sessions, keynote presentations, special events and an expansive Marketplace Exhibit Hall with nearly 400 exhibitors.

     

    To learn more about RISKWORLD, visit www.RIMS.org/RISKWORLD.

     

    COVID-19 Vaccine Requirement and Precautions

    RIMS has implemented new guidelines that will require anyone who wishes to attend a RIMS in-person event to show that they are fully-vaccinated for COVID-19.  The requirement is effective immediately for all events managed by RIMS staff, including RISKWORLD. The requirement applies to RIMS staff, vendors, sponsors, media, and other ancillary partners who plan to attend or provide a service at a RIMS event, with no exceptions. RIMS Board of Directors and staff will continue to monitor the COVID-19 global pandemic and reserve the right to amend this vaccination policy accordingly.

     

    RIMS, its vendor and facility operators will also implement additional safety measures including, but not limited to, social distancing planning, medical professionals onsite, added hand-sanitizing stations and intensified cleaning protocols. 

  • RIMS Compensation Survey—Deadline Extended

    RIMS Risk Management Compensation Survey 2021 deadline has been extended to Friday, November 19 at 5 pm EST.

     

    If you haven’t participated yet and you are a full-time risk professional from the United States or Canada, please take the survey to help inform the current state of risk management compensation. Learn how your compensation package compares to that of your peers and help your organization maintain competitive hiring practices.

     

    Your data will only be used in an aggregate form, generating summary reports and tabulations.

     

    As a thank you for participating, you will receive a complimentary summary of the survey results (emailed by RIMS).

     

    To participate in the online survey, please click this link:
    https://www.readexsurvey.net/rims/survey.asp

     

    Your answers will be kept confidential in accordance with Readex’s Privacy Policy.

     

    Thank you for your participation in this very important survey.

  • Learn Data Management and Analytics Best Practices for Risk Management

    Data is the oil of enterprise risk management and analysis, but analytics are only as good as the data from which they are derived. Our Managing Data for ERM  half-day workshop reviews best practices in managing and using trusted data for AI in ERM.


    Managing Data for ERM
    November 18 | 9:00 am – 1:00 pm ET
    Learn more and register here.


    This workshop is part of our new three-part, virtual workshop series to enrich your risk management program with the best practices in data management, analytics and artificial intelligence. You can attend one or all three workshops in the series.

  • RIMS President's Corner: On Your Behalf

    RIMS is here for you.  For the past 70+ years, the Society has been a leader in the risk management space, delivering resources, knowledge and events to help risk professionals around the world reach and exceed their potential. As we enter a seemingly new era of business that is centered on addressing systemic risks like climate, social and health issues and governance, RIMS will continue to be here, working on your behalf.

    RIMS advocates for this profession.  Recently, the Society held RIMS Autumn Advocacy Week where we explored current and proposed legislation that impacts the way we manage risk for our organizations. The two-day virtual event featured sessions about pandemic risk solutions, business continuity, as well as cyber regulation. All of those sessions are available to you on-demand.  The event culminated with in-person meetings with Congressional offices in Washington D.C. and our attendees had the opportunity to share the risk professional’s perspective on several legislative issues.

    Additionally on the advocacy front, RIMS announced its support for the Pandemic Risk Insurance Act of 2021introduced by Congresswoman Maloney (D-NY).  Our hope is for a private, public insurance solution that instills confidence that our organizations’ exposures are adequately protected and, for our insurance partners, that the risks they accept are supported by a Federal backstop.  To learn more about PRIA, RIMS involvement in the Business Continuity Coalition and other advocacy efforts, visit our advocacy page.

    We are just days away from our first in-person conference since 2019.  RIMS 2021 ERM Conference is in New York but, if you haven’t made travel arrangements yet, the two-day conference is virtual as well.  “ERM in an ESG World” is the theme and the lineup of sessions looks exceptional.  I’m ready to meet our members in-person in New York and know that this will be an outstanding experience.  Registration is still open.

    If you think we’re excited for our ERM Conference, the anticipation to open registration for RIMS 2022 Annual Conference & Exhibition is palpable.  We shouldn’t have to wait much longer as registration is set to open later this month. This is the Society’s flagship event that routinely draws more than 10,000 risk professionals, 400 exhibitors and delivers over 100 education sessions annually.  Let’s see if we can break some records.  RIMS 2022 Annual Conference is April 10 -13 in San Francisco.  It is important to note that San Francisco has COVID-19 vaccination requirements for large gatherings so we asked that our attendees read these guidelines and plan accordingly.

    RIMS continues to make progress globally. Recently, RIMS and the Hong Kong Confederation of Insurance Brokers agreed to deliver The Science of Risk Management virtual workshop for the Confederation’s network of risk management leaders and insurance and brokerage professionals. Led by former RIMS President Nowell Seaman, the workshop will explore the dimensions of risk management, key risk management competencies, risk professionals’ evolving role and business leaders’ expectations of this critical function.

    We are also proud to announce that registration in now open for the virtual RIMS India event on December 3 and 4.Beyond a stellar educational lineup, our team in India has assembled a sampling of cultural activities and entertainment to give us a taste of India – without actually being there.  We are excited to welcome our keynote speakers Mr. Ajay Srinivasan, Chief Executive Officer at Aditya Birla Capital Limited (ABCL), and Dr. Soumya Kanti Ghosh, Group Chief Economic Advisor, State Bank of India.  Visit the RIMS India page for more information about the event and to register.

    Lastly, we received some bittersweet news that longtime RIMS CEO Mary Roth will retire in 2022 following RIMS Annual Conference.  Mary has served as RIMS CEO for 17 years and, during that time, has undeniably worked on your behalf to make sure RIMS lives up to all expectation.  Under her leadership, this Society has flourished and is renowned globally for its profession- and industry-leading knowledge and resources.  But, must importantly, she helped to reinforce that RIMS is a community that embraces different perspectives and creates opportunities for risk professionals to share, learn and grow. RIMS Board, staff and powerful network of volunteers are dedicated to making sure we don’t skip a beat, that we build upon her accomplishments and this Society’s proud 70-year history.

    Wishing you much success in the months ahead.  I hope you’ll be able to join us for our upcoming conferences and engage with our global risk community on Opis and through the newly-launched RIMS Mobile App.

    Sincerely,

     

    Ellen Dunkin

    RIMS 2021 President

  • RIMS REAFFIRMS ITS SUPPORT FOR NEWLY INTRODUCED PANDEMIC RISK INSURANCE ACT OF 2021

    RIMS, the risk management society®, has announced its continued support for Congresswoman Carolyn Maloney’s (D-NY) Pandemic Risk Insurance Act of 2021 bill that was introduced earlier this week. The 2021 bill is available here.

     

    The proposed legislation would create a Federal program that provides a system of shared public and private compensation for business interruption losses resulting from future pandemics or public health emergencies.

     

    “As organizations continue to fight and rebound from the impacts of the global pandemic, it’s critical that business and government leaders come together to develop a real insurance solution to prevent future economic disruption,” said RIMS President Ellen Dunkin. “Risk professionals are well-positioned to provide a valuable perspective on insurance solutions that not only strengthen business resiliency but would allow our partners in the insurance industry to confidently deliver effective and affordable pandemic risk products. We are proud to support PRIA of 2021 and the efforts of the Business Continuity Coalition to achieve this important goal.”

     

    As outlined in an April 2020 letter from RIMS to Congress and the Trump Administration supporting the first PRIA bill, the legislation would provide greater access to capital from lenders and establish a viable insurance market with sufficient, affordable capacity. Additionally, it would create certainty for businesses and organizations of all sizes across the United States and ensure that businesses can meet future pandemic events with greater resilience.

     

    In June 2021, RIMS joined the Business Continuity Coalition (BCC) to build a more stable insurance market that supports organizations as they navigate future pandemics. The BCC is also a proponent of Congresswomen Maloney’s reintroduced bill and continues to work constructively with policymakers and other U.S. stakeholders to develop an insurance program that ensures business continuity from future economic losses from pandemics and other emergencies necessitating widespread closures of the economy. The BCC comprises

    a broad range of business insurance policyholders – large and small – from across the country.

     

    RIMS provides risk management professionals from around the world with access to resources and educational programming to help them navigate COVID-19’s impacts, as well as many other business risks. The Society’s External Affairs Committee continues to monitor legislative and regulatory issues that impact organizations’ ability to protect employees, property and data and reach their respective strategic goals.

     

    For more information about RIMS advocacy initiatives and its Risk PAC, visit www.RIMS.org/advocacy.

  • RIMS AND HONG KONG CONFEDERATION OF INSURANCE BROKERS PRESENT: THE SCIENCE OF RISK MANAGEMENT

    RIMS, the risk management society®, and the Hong Kong Confederation of Insurance Brokers (HKCIB) have agreed to deliver The Science of Risk Management virtual workshop for the Confederation’s vast network of risk management leaders and insurance and brokerage professionals.

     

    Scheduled for November 23-26, 2021, the workshop will explore the dimensions of risk management, key risk management competencies, risk professionals’ evolving role and business leaders’ expectations of this critical function. The program will enhance participants’ abilities to:

    • Communicate the principles of risk management at all organizational levels;
    • Create awareness and prevent excessive levels of risk and mitigate adverse outcomes;
    • Foster a collaborative and consultative risk management environment;
    • Demonstrate business insight and leadership abilities.

     

    “The Science of Risk Management” will be taught by former RIMS President Nowell Seaman, RIMS-CRMP, FCIP, CRM. Nowell has more than 25 years' experience in risk management for organizations in the private and public sectors and has specialized in enterprise and operational risk management, insurance and alternative risk transfer, business continuity planning and crisis response.

     

    “Risk management is an essential business function that allows organizations to make informed strategic decision that not only mitigate potential exposures but that also support innovation and value-generating initiatives,” said RIMS CEO Mary Roth.  “To be effective in this evolving role, risk professionals must continue seek opportunities to evaluate best practices and learn.  RIMS is proud to partner with the Hong Kong Confederation of Insurance Brokers and to share our expertise is this area with their professional network.”

     

    For additional information about RIMS global initiatives, resources and educational programming, visit www.RIMS.org.  For information about the services offered by the HKCIB to the insurance broking community in Hong Kong, visit www.hkcib.org.

     

    About the Hong Kong Confederation of Insurance Brokers (“HKCIB”)

    HKCIB was formed in February 1993.  From 30 June 1995 until 23 September 2019, HKCIB was one of the two approved bodies to self-regulate insurance brokers in Hong Kong.  The fundamental role of HKCIB as a self-regulatory organization ended in September 2019 when the Hong Kong Insurance Authority (“IA”) took over the self-regulatory functions to implement direct licensing regime in Hong Kong.

     

    Today, CIB is a professional body representing the interest of insurance brokers. CIB is now focusing on three key roles for serving our members:

    “Professionalism” - to promote professionalism amongst brokers in the industry;

    “Representation” - to represent the interests of members;

    “Communication” - to continue the communication with the IA to reflect members’ interest.

     

    To learn more about the HKCIB, visit www.hkcib.org.

  • Learn the Opportunities and Risks of Captive Formation

    Join your peers at our new Captives as an Alternate Risk Financing Technique virtual workshop on November 4 – 5. You’ll learn how to identify opportunities and risks associated with captive formation and analyze various alternative risk financing solutions that support corporate goals. 

  • RIMS ERM CONFERENCE 2021 - ERM IN AN ESG WORLD

    Recognizing the growing impact environmental, social and governance (ESG) risks have on global business, RIMS is proud to welcome Lloyd’s Chairman Bruce Carnegie-Brown to keynote RIMS ERM Conference 2021 scheduled for November 11 – 12 in New York City and virtually. In addition to remarks from Mr. Carnegie-Brown, the agenda features a stellar lineup of risk thought-leaders who will share their experiences applying enterprise risk management practices to address a new wave of ESG concerns.

     

    ***Registration is open for RIMS ERM Conference 2021: ERM in an ESG World***

     

    The RIMS ERM Conference 2021 – the Society’s first in-person event since January 2020 – will be held at the New York Hilton but will also have a virtual component for those who cannot attend in-person. The conference’s theme “ERM in an ESG World” will guide the two-day educational program that includes the following sessions:

     

    • The Board's GPS
    • Ransomware, Phishing, and Data Leakage: Best Practices for Managing Top-of-Mind Security Risks
    • Connecting The Dots: Good Governance, ESG and Strategic Risk
    • ERM and ESG Risk Assessments
    • ESG, ERM, and the Reputation Premium
    • Integrating Net Zero Commitments into ERM Plans
    • The Path to Gains from Diversity, Equity, and Inclusion in the ERM Program
    • RIMS Maturity Model
    • Economic Scenarios for Climate Risk Analysis
    • Rethinking the Impact of Disruption on ERM Tools and Processes: Reviewing the RIMS Executive Report
    • Hijacking ESG
    • Identify and Solve Any Organizational DEI Issue In One Hour
    • Integrated ERM Insights Into Strategic Planning and Performance Discussions
    • The Evolution of ERM: Balancing Context, Strategy, and Reality
    • Digital Innovation in the World of ERM and ESG
    • Emerging Risks Insights: A RIMS Member Perspective
    • Buyer Beware and a Call to Action: The Critical Relationship Between ERM Maturity and Value Creation
    • A Wake-Up Call and Opportunity to Integrate Cybersecurity, Supply Chain Risk Management and Enterprise Risk Management
    • Prioritizing ESG to Attract Future Talent
    • Developing a Consistent, Proactive ERM Approach to Navigate ESG Risks
    • ESG Risks with Captive Utilization

     

    Proof that attendees are fully-vaccinated is required by the New York City regulation and RIMS. Registration for RIMS ERM Conference 2021 is open: register here.  For questions about exhibiting or sponsorship opportunities, contact Matt Whyte at mwhyte@rims.org or (212) 655-6052.

     

    About Lloyd’s Chairman Bruce Carnegie-Brown

    Bruce Carnegie-Brown was appointed Chairman in June 2017. He is currently also Vice-Chairman of Banco Santander, Chairman of MCC and Chairman of Cuvva, a digital motor insurance business.

     

    He was a Non-Executive Director of JLT Group plc from 2016 to 2017, prior to which he was Non-Executive Chairman of Aon UK Ltd from 2012 to 2015, Senior Independent Director of Catlin Group Ltd from 2010 to 2014 and Chief Executive for Marsh UK and Europe from 2003 to 2006. He was Chairman of Moneysupermarket Group from 2014 to 2019 and Senior Independent Director of Close Brothers Group plc from 2006 to 2014 and is a Past President of the Chartered Management Institute.

     

    He previously worked at JP Morgan for 18 years in a number of senior roles and was Managing Partner of 3i Group plc's Quoted Private Equity Division from 2007 to 2009.

  • Don’t miss these sessions at RIMS ERM Conference, November 11–12, NYC

    The Board’s GPS | November 11, 10:45 am ET

    Leverage the power of ERM initiatives to help guide boards on their journey to meet growing accountabilities for better corporate governance. A panel of award-winning ERM experts, including Christy Kaufman from Zillow, will share personal accounts and real-life case studies of how ERM and board alignments have evolved on the road to organizational resilience.

     

    Hijacking ESG | November 12, 10:30 am ET

    When conversations about social issues go unaddressed, there are consequences. ESG expert Dr. Andrea Bonime-Blanc and technology executive Vikram Sharma will explain how to uncover risks emerging on the surface, deep, and dark web; position this risk intelligence to your board and leadership team; and apply these insights to build a new organizational resilience model.

     

    Register now to join us: http://go.rims.org/JJJ8XIA8G6

     

    Can’t make it in-person? Register for the virtual conference.

  • Learn About ERM and ESG in NYC

    In-person events are back in New York City! Join us at RIMS ERM Conference at the New York Hilton Midtown, November 11–12, for two days of valuable interaction with experienced speakers, relevant and practical presentations, and knowledge-sharing opportunities with your peers.

     

    Educational sessions include:

    • The Board's GPS
    • Integrating ERM Insights into Strategic Planning and Performance Discussions
    • Digital Innovation in the World of ERM and ESG
    • Economic Scenarios for Climate Risk Analysis
    • ESG, ERM, and the Reputation Premium
    • Ransomware, Phishing & Data Leakage: Best Practices for Managing Cyber Risks
    • Integrating Net Zero Commitments into ERM Plans
    • The Path to Gains from Diversity, Equity, and Inclusion in the ERM Program

    Register now.  http://go.rims.org/NGLWDASXXM 

     

    (Can’t make the in-person conference? Register for virtual access.)

  • RIMS President's Message: BRIDGES

    Today’s risk professional must build bridges.  Our work needs to break down silos within our organizations and build bridges to identify risks and find the correlations between them. We must build bridges with our partners, especially in the insurance community, because transparency always nets the best results. Most importantly, we must build bridges that enable our organizations to not only manage risks but to set strategies to turn those risks into opportunities.

    The COVID-19 pandemic has forced our organizations to shift gears but now, risk professionals – and RIMS – are faced with a new challenge: building a bridge to a new normal.

    The most apparent bridge back will be with RIMS events.  It started with RIMS Canada Conference on October 5 and 6.  After cancelling the much-anticipated event in 2020, RIMS Canada Conference is back, virtually this year.  The event theme RE-VISION is set to provide risk professionals with insight to re-imagine their roles and re-assess their programs and processes. To learn more about the event and RIMS Canada Council, visit www.RIMSCANADA.ca.

    The road to recovery will continue with the in-person RIMS ERM Conference on November 11 – 12.  We are excited to host this event, our first in-person event in over a year, to welcome people to New York City and share a powerful lineup of sessions that will focus on ESG in an ERM World.  Registration is open so stay tuned as we continue to add sessions to the agenda.

    We are also exploring the format of an Autumn Advocacy Event that would feature virtual sessions the week of October 18th and then, potentially, the opportunity to meet with Congressional Offices in-person in Washington, DC in late October.  If you’d like more information about our Advocacy initiatives or are interested in attending, email CST@RIMS.org and put RIMS Advocacy in the subject line. 

    Our NextGen webinar series is underway but it’s never too late to join the virtual event as all sessions are available on-demand. Year after year, RIMS continues to see outstanding engagement from this enthusiastic demographic of early professionals. And, planning for a RISK TECH/TECH RISK event and RIMS India Forum is in process. We’re proud to be able to provide educational opportunities for these groups, specialties and regions and do our part to help pave the way for stronger risk management.

    Last, but certainly not least, is building the bridge back to RIMS Annual Conference & Exhibition.  There is so much pent up demand.  Planning for our in-person, flagship event is well underway, and we could not be more encouraged by the support we are receiving from our partners in San Francisco. RIMS Annual Conference Programming Committee is set to meet shortly to finalize the conference’s education sessions.  RIMS 2022 exhibition and sponsorship numbers are strong and tracking much like they did pre-pandemic.  There is no doubt that in the upcoming months you will receive additional information about the conference with registration slated to open in November.

    While it would be great if everything could go back to the way it was, we know some things will be different and the bridge we build to move forward must adapt. 

    Recently, RIMS announced that the Society will require attendees at events run by headquarters to show proof of vaccination. The requirement applies to vendors, partners, exhibitors, and all others who wish to participate at a RIMS-run event.  After extensive research of best practices throughout the event industry and undergoing our own risk assessment, we believe that this is the best way forward to ensure the safety of our attendees. As we have learned, things can change quickly, so if there are any updates to this requirement, we will be sure to let you know.  Additionally, it should be noted that your chapter leaders will set their own guidelines for chapter and regional events. The Society issued a press release about the vaccine requirement for attendees that you can read here.

    Finally, I want to encourage you to download the new RIMS Mobile App.  The App is an exceptional, members-only resource that enables our community to explore our extensive collection of knowledge and resources from anywhere in the world.

    All signs are pointing in the right direction, and we are so thankful to the countless volunteer risk professionals who dedicate their time to help us create opportunities to advance the risk management profession and who are integral to building this bridge back to “normal.”  Thank you.

    Sincerely,

    Ellen Dunkin

    RIMS 2021 President

     

     

  • RIMS AND INDIA’S PRESTIGIOUS AMITY UNIVERSITY CELEBRATE EDUCATION PARTNERSHIP

    With recent events highlighting the demand for greater risk management practices across all business sectors, RIMS, the risk management society® and The Amity University have entered into agreement to present a series of RIMS-Certified Risk Management Professional certification (RIMS-CRMP) prep courses to the institution’s graduate and post-graduate network.  

     

    Starting in late-October, Amity University will offer a comprehensive risk management learning experience for Banking, Insurance, Actuarial Sciences and Finance graduate students – as well as to its network of established business executives – that aligns with the RIMS-CRMP, the world’s only accredited risk management certification.

     

    The five-weekend program will explore strategies to devise strong risk management capabilities, including:

    • Analyzing business models;
    • Designing organizational risk strategies;
    • Implementing risk processes:
    • Developing organizational risk competencies; and
    • Supporting decision-making.

     

    Upon completing the programme and passing the RIMS-CRMP certification exam, participants will earn the coveted RIMS-CRMP Professional credential, apart from their individual degree from Amity University.

     

    Addressing the participants, Prof. (Dr.) Balvinder Shukla, Vice Chancellor, Amity University welcomed this very special and exclusive education agreement between Amity University and RIMS and said this partnership will provide a great opportunity to faculty to network, build relationship with the professional world. “This is an era of networking, partnership and developing synergy to support industry and provide practical exposure to those who want to develop risk management competencies. Such certifications provide an advantage to students which enhances the chances of employability and expertise”, averred Dr. Shukla.

     

    “To achieve our mission and advance the risk management profession globally it is crucially important that RIMS identifies partners who share our values and recognize the importance of delivering world-class risk management education,” said RIMS CEO Mary Roth.  “As the Society’s membership continues to grow in India, we are proud to collaborate with Amity University and provide professional advantages to the region’s business community while also creating a path for executives to strengthen their organizations’ risk management capabilities and earn the coveted RIMS-Certified Risk Management Professional certification.”

     

    RIMS continues to invest in developing, promoting and advancing risk management in India.

    The Society announced the formation of its RIMS India Chapter in December 2020 and will host its 4th Annual RIMS India Risk Forum, virtually, December 3 and 4, 2021.

     

    “Joining forces with the highly-respected Amity University will allow RIMS to continue in its journey to demonstrate and promote the value of strong risk management capabilities in India,” said Gopal Krishnan, Director of Global Development for South Asia at RIMS. “We are excited to engage with Amity University’s impressive network and share this exceptional opportunity for their community to achieve the highest mark of achievement in the risk management profession.”

     

    To learn more about the Society’s global initiatives, visit www.RIMS.org/global or email India@RIMS.org. Additionally, the Society has a dedicated RIMS India LinkedInpage, RIMS India WhatsApp to engage and inform the business community in the country. 

     

    To learn more about the RIMS-CRMP certification, its official accreditation by ANSI under ISO/IEC 17024:2012 and to read testimonials from RIMS-CRMP holders, visit www.RIMS.org/Certification

  • RIMS ANNOUNCES FULL-VACCINATION REQUIREMENT AT ALL SOCIETY EVENTS

    RIMS has implemented new guidelines that will require anyone who wishes to attend a RIMS in-person event to show that they are fully-vaccinated for COVID-19.  The requirement is effective immediately for all events managed by RIMS staff, including the upcoming RIMS Enterprise Risk Management Conference and its Annual Conference & Exhibition scheduled for April 10-13 in San Francisco.

    RIMS will adhere to the Centers for Disease Control (CDC) definition of “fully vaccinated.” According to the CDC, people are considered fully vaccinated:

    ·       Two weeks after their second dose in a two-dose series, such as the Pfizer or Moderna vaccines, or

    ·       Two weeks after a single-dose vaccine, such as Johnson & Johnson’s Janssen vaccine

    ·       If the individual does not meet these requirements, regardless of age, they are NOT fully vaccinated.

    The vaccine requirement also applies to RIMS staff, vendors, sponsors, media, and other ancillary partners who plan to attend or provide a service at a RIMS event. While the Society will make no exceptions for religious or health exemptions, it will work with those impacted to develop an alternative virtual event experience. The Society is currently exploring third-party vendors that specialize in conducting health screenings, as well as validating the authenticity of vaccine documentation.

    “RIMS events are world-renowned and have set the highest standard for delivering the best in risk management knowledge, solutions and opportunities,” said RIMS President Ellen Dunkin.  “Under these current conditions and after a thorough review of event industry trends, our Board felt it was necessary to adopt these vaccination requirements. At the end of the day, it’s about the safety of our attendees and, as risk professionals, we believe this decision is the best option for RIMS to, once again, bring the world’s risk management community together.”

    RIMS Board of Directors and staff will continue to monitor the COVID-19 global pandemic and its impact on both domestic and international populations. Its leadership reserves the right to amend this vaccination policy accordingly. For questions about RIMS vaccination policy and/or eligibility to attend a RIMS event, email CST@RIMS.org. To learn about upcoming RIMS events, visit www.RIMS.org/events/upcoming-events.

  • RIMS President's Corner: On-The-Go

    Every once in a while we get a glimpse of normal.  Yes, there are and will continue to be bumps in the road as we recover, but risk management professionals must prepare their organizations for the world post-pandemic.  That return is going to require us and our colleagues to get out “on-the-go,” to resume our site visits, meet with partners, network at events and, dare I say, travel.

    We got a taste of that at RIMS Florida Educational Conference, the Society’s first major in-person event since 2020.  In late-July, 600 risk management professionals joined us for a five-day risk management extravaganza.  I can’t commend the RIMS chapter volunteers enough for developing a sensational program and giving us the opportunity to, once again, network in-person in a safe and welcoming environment.  In all my years as a RIMS volunteer, this was my first time at the conference and they’ve definitely gained a repeat attendee in me.

    At the Florida Educational, I had the privilege to announce this year’s Spencer Educational Foundationhonorees. EPIC Insurance Brokers and Consultants’ Peter Garvey is being honored for his exceptional career giving back and supporting the next generation of risk professionals. And, the second honoree is RIMS CEO Mary Roth.  Mary and I have known each other a long time and I can’t think of anyone more deserving.  The honors are a part of Spencer’s “Funding Their Future” campaign, a virtual fundraising initiative being held in lieu of their annual gala.  If you’d like to make a donation in Mary or Peter’s name you can.  Spencer continues to do remarkable work building a pipeline of talent and, I encourage you to support this crucially important cause.    

    At the end of this month, RIMS Board Director Penni Chambers will attend the RIMS Western Regional Conference in Park City, Utah. And, planning is well-underway for RIMS in-person ERM Conference in November in New York City.  Mary Roth and I are disappointed international travel is still not an option, but we are ready to take part virtually in RIMS Australasia Conference scheduled for September 6 - 9.

    Becoming more digital was always a part of RIMS long-term strategy.  The pandemic only accelerated that. Now, as risk professionals start to venture out from behind their desks again, the Society announced its latest resource to keep members engaged and informed while “on-the-go”:  RIMS Mobile App. From anywhere in the world, the App gives members access to: RIMS Risk Management Magazine; RIMS Risk Management Monitor blog articles; RIMScast; Risk Knowledge’s reports and research; Opis; as well, as updates about events, resources and Society news. Once you’re done reading this, take out your phones and download the App from the App Store or Google Play Store.

    On the Mobile App and in RIMS Risk Knowledge Library, you can find our newly released executive report, “Rethinking the Impact of Disruption on Enterprise Risk Management Tools and Processes.” The ability to detect and recognize sources and impacts of risk and disruption is always a top concern. This report covers the basics of emerging risks and business disruption, the drivers of disruption, and what role the Strategic and Enterprise Risk Management practitioner can have in better preparing and managing corporate disruption. Check out this new report and others in the online library.

    Finally, if there is one thing that sets RIMS apart from all others, it’s RIMS Annual Conference & Exhibition.  RIMS is revving up for its grand return to in-person meetings in San Francisco from April 10 -13, 2022. This month, teams from the biggest brokerage firms, insurance companies, risk management solution providers and other world-class partners will join RIMS for our Insite Tour.  This opportunity gives exhibitors and sponsors the opportunity to explore the City of San Francisco, the exhibit hall, hotels and other event spaces to build the ultimate conference experience for our attendees. The call for RIMS 2022 session submissions is open and we have already received some outstanding responses that will surely be part of the conference program.    

    The prospect of getting out, back into the world and “on-the-go” is exciting.  And, for me personally, travelling has always been the perfect opportunity to catch-up on the latest trends and strategies that I have applied throughout my career. We can all agree that those moments for professional development are sometimes hard to come by but, at RIMS, we are determined to present new ways for you to take advantage of those moments, to strengthen your skills and excel professionally.  Thank you for allowing us to share them with you.

    Sincerely,

    Ellen Dunkin

    RIMS 2021 President