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RIMS Publishes Paper on ERM Technology Solutions 3/19/2009

Executive report provides risk practitioners guidance on enhancing enterprise risk management programs

NEW YORK (March 19, 2009) — The turmoil in the financial industry has brought a greater awareness of enterprise risk management (ERM) and the technologies that risk practitioners use to implement ERM programs. The Risk and Insurance Management Society (RIMS) has released an executive report titled "Enterprise Risk Management Technology Solutions" to help risk managers identify and evaluate appropriate technology system functionality for their ERM practices.

"Technology can provide strong support for an ERM process; however, practitioners must make certain that the system is user-friendly and flexible enough to accommodate the changes that most ERM programs experience over time," says Leslie A. Lamb, member of RIMS Technology Advisory Council and risk manager at Cisco Systems, Inc. "This paper is intended to provide insights  to risk practitioners who are at the beginning and intermediate stages of adopting ERM, and are considering using technology solutions to implement a new or next phase in the process."

The executive report is authored by Michael E. Thoits, JD, ARM, past member of RIMS Technology Advisory Council and director of risk management at Affinia Group, Inc. The focus of the paper is on the functional needs of ERM processes and the corresponding functionality available from technology providers. It is based on results from two surveys-one to ERM practitioners and one to system providers. Data was collected in the summer of 2008 from 651 risk practitioners who identified more than 20 different technology solutions they are using, and the key functionality for their ERM programs.

"Enterprise Risk Management Technology Solutions" is available free to everyone who registers at www.RIMS.org/ResourceLibrary.


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About RIMS

As the preeminent organization dedicated to advancing the practice of risk management, RIMS, the Risk Management Society™, is a global not-for-profit organization representing more than 3,500 industrial, service, nonprofit, charitable and government entities throughout the world. Founded in 1950, RIMS brings networking, professional development and education opportunities to its membership of more than 11,000 risk management professionals located in more than 60 countries. For more information on RIMS, visit www.RIMS.org.

 

For more information, contact:

Josh Salter, RIMS communications manager, (212) 655-6059 or jsalter@RIMS.org

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