Risk Manager Core Competency Model

Executive Summary

The core competency model developed by the Risk and Insurance Management Society (RIMS) Professional Development Advisory Council (PDAC) reflects components of the best practices and best theoretical models, proffered by RIMS Fellow Advisory Council, the American Society for Training and Development, and basic business management texts. Our proposed model for RIMS takes the best ideas from many models and modifies them to reflect the many different skills required for risk management.

This model can be used by RIMS members for position definition, professional development, communication, and many other purposes.

It is a dynamic rather than static model to be reviewed every two to four years as business and risk management environments change. The model consists of three skill sets - core competency skills, technical skills and conceptual skills. The diagram represents different skill sectors and does not connote different levels of importance or an evolution in an individual risk manager's expertise.

Following the model is a description of the individual skills.

Risk managers of all levels must know their own industry dynamics, its economics, operations, staff, customers, competitors and other business partners and stakeholders.

Click on the graphic below to download the entire RIMS Risk Manager Core Competency Model in PDF form.