YMCA OF GREATER TORONTO WINS RIMS 2012
ENTERPRISE RISK MANAGEMENT AWARD OF DISTINCTION
YMCA
Risk Program Supports Growth to Serve More
Members
Sysco
Corporation Receives Honorable Mention for Expansive ERM Program
NEW YORK (October 30, 2012) - Enterprise Risk Management (ERM) is a progressive
approach to risk management that goes beyond the traditional purchasing of
insurance by encouraging all areas of a business to take action to better
manage and leverage risk. To celebrate one organization’s resounding success in
embracing this concept and generating value as a result, RIMS today presented the 2012 ERM Award of Distinction to the
YMCA of Greater Toronto.
The
award, presented at RIMS ERM Conference 2012 in San
Antonio, recognized the YMCA of Greater
Toronto and its sophisticated risk intelligence program. The
program’s value was demonstrated through a suite of strategic risk tools and
techniques that included a collaborative project risk assessment, aligned with
the organization’s mission, vision and strategic plan objectives. Early
results produced an average 25% growth in monthly membership sales at one of
its Health, Fitness and Recreation centers, with phased replication and reach
in other communities.
“Our YMCA risk strategy has evolved through
integrative thinking that is generating new perspectives and tools, enabling us
to respond successfully to the changing needs of communities we serve,” said Monica Merrifield, Vice President Risk
Intelligence, YMCA of Greater Toronto.
Honorable mention for this year’s ERM Award of
Distinction went to Sysco Corporation, the global leader in selling,
marketing and distributing food products to restaurants, healthcare and educational
facilities, lodging establishments and other customers who prepare meals away
from home. Sysco operates 185 distribution facilities serving more than 400,000
customers. The company successfully implemented an ERM program that
ultimately supports the organization’s business transformation from a culture
of siloed businesses to a cohesive, interconnected, and better informed network
of companies focused on uncovering otherwise untapped opportunities.
According
to the 2011 RIMS Benchmark Survey of risk professionals, 80 percent of
organizations either have or are in the process of developing an ERM
program. Seventeen percent of the
respondents stated that their programs are fully integrated and address risk
across the organization similar to programs implemented by the YMCA of Greater
Toronto and Sysco Corporation. And, perhaps
an even greater endorsement for RIMS ERM Conference are results from the RIMS
and Marsh’s Excellence in Risk Management IX report that cites the top two
responsibilities senior management expect from their risk management department
are increased involvement in the organization’s overall business strategic
planning efforts and for them to lead enterprise risk management activities.
“Enterprise
risk management has become an increasingly important organizational competency
that not only protects organizations from detrimental risks but has proven to
help identify positive risks that can lead to profitable opportunities,” said
Carol Fox, RIMS Director of Strategic and Enterprise Risk Practice. “The YMCA
of Greater Toronto and Sysco Corporation are shining examples of how risk
management can create value for an organization and their work is truly
deserving of this honor.”
Judging
criteria for the ERM Award of Distinction includes the scope of the ERM program
and how it engages different levels throughout the organization; the programs
link or connection to the company’s overall mission; and its ability to create
additional value for the organization.
About the YMCA of Greater Toronto
Established in 1853, the YMCA of Greater Toronto is a charity connecting
with more than 485,000 people at 400 locations. Serving the population of the
Greater Toronto Area, Durham, Peel, York, Halton Regions and Dufferin County,
the YMCA works to build strong kids, families and communities. The YMCA
offers a variety of programs responding to the needs of the community,
including employment and essential skills, education, newcomer programs, youth
outreach and intervention, fitness, sports and aquatics, child care and camps. www.ymcagta.org
About Sysco Corporation
Sysco Corporation, the
global leader in selling, marketing and distributing food products to
restaurants, healthcare and educational facilities, lodging establishments and
other customers who prepare meals away from home. Sysco operates 185
distribution facilities serving more than 400,000 customers. www.sysco.com