A Welcome Disruption
Tue, May 09, 2017 -
I trust that everyone has returned home from RIMS Annual Conference & Exhibition safely and energized with new perspectives and ideas to re-think the way risk management is being done within their organizations.
RIMS 2017 was a huge success. In four days, we welcomed over 10,000 risk professionals, hosted 409 solutions providers in the Marketplace Exhibit Hall and offered 168 educational sessions that touched on almost every aspect of risk management imaginable.
This was the 22nd RIMS Annual Conference that I have had the privilege to attend, and witnessing it as president shed a new light on the experience. It was gratifying to see our attendees’ enthusiasm for this profession that we are passionate about. The work of our volunteers and staff was clearly evident. The dialogue between chapter leaders, RIMS Delegates, RIMS leaders, existing and potential partners and other international risk management associations was invaluable.
We honored some amazing risk professionals in Philadelphia. The RIMS Risk Manager of the Year and Honor Roll, new inductees into the RIMS Risk Management Hall of Fame, the Society’s Harry and Dorothy Goodell Award, RIMS Ambassador Group award, the Rising Star Award, and awards to honor and recognize our outstanding chapters were presented at the conference.
And how could we leave out the many impressive college students who attended and competed in the Spencer-RIMS Risk Management Challenge. Congratulations to St. Joseph’s University for winning this year’s competition, and to all finalists and participants!
Thank you all for being a part of RIMS 2017 and making it so special. Attendees can still download handouts from sessions in the Attendee Service Center. For those who were unable to attend, I encourage you to check out daily coverage of the conference in the RIMS Show Daily from Monday, Tuesday and Wednesday of the conference.
Please be sure to mark your calendars for RIMS 2018 Annual Conference & Exhibition on April 15 – 18 in San Antonio.
Disruption can be positive. It is critical that we test and review traditional and sometimes outdated processes, and consider how we might change to improve and advance. Throughout the year, RIMS will continue to produce resources and professional development opportunities to help you challenge that status quo.
At the conference, the Society released three new publications: RIMS Benchmark Survey 2017, RIMS MARSH Excellence in Risk Management XIV report and the Society’s first Business Interruption Survey. Also, we’ve updated RIMS Professional Growth Model and developed the RIMS Risk Management Professional Core Competency Model. All of these great resources can be found in RIMS Risk Knowledge library except for the Benchmark Survey which is available at www.RIMS.org/book.
At the RIMS NeXtGen Forum in Austin, June 4 and 5, we will be offering opportunities for rising risk professionals – risk professionals in the early stages of their careers – to meet industry thought-leaders, boost your knowledge-base and, perhaps, your professional standing. The RIMS Canada Conference, which will be in Toronto from September 24 to 27, also has opened its registration. Hope to see you there.
There is no question that our time in Philadelphia highlighted new strategies and best practices to enhance our work and our careers. Now it is time to implement them. RIMS stands ready to guide you in that process. We look forward to seeing you at our upcoming events, and sharing more resources throughout the year.
Nowell R. Seaman
RIMS 2017 President
All Together Now
Wed, Apr 12, 2017 -
From Las Vegas to India to Canada to Japan. RIMS has been represented in every corner of the world in the first quarter of the year. Truth is, our Leadership Summit in January, our India Delegation last month and my visit to RIMS Japan Chapter events in Osaka and Tokyo were not only enlightening, but also inspiring to me.
The global risk management community’s work continues to impress. It is a privilege to represent this Society around the globe, and to be able to share what I have learned with you.
The presentation that I delivered in Japan focused on risk management’s role and ability to support organizational growth and innovation. Risk professionals are in a prime position to help their organizations leverage uncertainties and turn them into opportunities. This concept aligns with the advanced risk programs already in motion in Japan, and will be a leading theme as we ‘disrupt the status quo’ at RIMS Annual Conference & Exhibition in Philadelphia.
RIMS Annual Conference is only 10 days away, and the excitement is palpable. Philadelphia has such a rich history, especially in the insurance world, and will be the perfect backdrop for the industry’s biggest event.
New to this year’s conference is the RIMS Risk Manager of the Year Award breakfast and panel discussion. The winners have already been announced and congratulations are in order for Loren Nickel, Director of Business Risk and Insurance at Google, this year’s RIMS Risk Manager of the Year, as well as our Honor Roll inductees Benjamin Evans from the University of Pennsylvania, Juliana Keaton from CSX Transportation and Scot Schwarting from Whirlpool Inc. All attendees are welcome to honor the winners with us at breakfast on Tuesday, April 25th. The award presentation will be followed by the interactive “Risk Managers of the Year Talk High Performance Risk Management” panel discussion. You won’t want to miss it.
The Spencer RIMS Risk Management Challenge is another exciting RIMS 2017 program. Nine university teams – including our first from outside North America – will compete in Philadelphia, presenting their risk management solutions to a case study provided by PayPal Inc. Three teams will make it to the final round, and the champion will be announced on Monday evening at the Spencer Educational Foundation’s reception. Good luck to all of our student participants.
If you haven’t yet, download the conference’s mobile app. RIMS EVENTS can be found in your app store and is a great guide for the RIMS 2017 experience. It gives you the layout of the Marketplace Exhibit Hall, a schedule of sessions and events, videos from RIMS-TV, shuttle bus information, connections with presenters, session handouts and more.
In my travels it has been apparent that, no matter the country, cyber issues ranked among the greatest concerns for all risk professionals. There are countless ways to address these risks and insurance products continues to become a more viable option. I encourage you to check out RIMS’ new professional report titled, “Cyber Insurance: Considerations for Businesses” that is available in RIMS Risk Knowledge library.
Recently, your Board of Directors approved a series of amendments to the Society’s bylaws. The most significant changes include the creation of four new individual professional membership classes. These new categories are:
• Individual Professional Member
• Individual Young Professional Member (for new members age 25 and under)
• Individual International Professional Member (Developed Countries)
• Individual International Professional Member (Emerging Countries)
As RIMS looks to expand its influence worldwide, it has become increasingly evident that new member categories are needed to address the needs of global organizations and practitioners, especially in regions where RIMS’ chapters are nonexistent. Additionally, is critical to the future of the Society to provide greater incentive to Rising Risk Professionals, and to allow practitioners to take their memberships with them as they transition between jobs.
These membership changes will make the path to a RIMS’ membership even more attainable. More information will be available soon. If you have any questions regarding these new categories, please reach out to RIMS Membership Development Manager Josh Lamangan at jlamangan@RIMS.org.
I look forward to meeting you in Philadelphia. With attendees that operate in all facets of risk management and from around the world – 60 countries to be exact – RIMS 2017 is a can’t miss event. I hope to see you there.
Nowell R. Seaman
RIMS 2017 President
Now We're Rocking
Fri, Mar 03, 2017 -
CNN has ranked risk management #2 on its list of Best Jobs in America and, I can attest, the opportunities that are available and the increasingly positive reputation that risk professionals are earning for adding value to organizations transcends all geographic borders.
Last month, RIMS sent a delegation of Board Directors and staff to India to meet with prominent players in the country’s risk management and insurance industry. We had the privilege of meeting with many risk practitioners, industry leaders, academics and students, and organizations such as the Insurance Regulatory and Development Authority of India and the Institute of Company Secretaries of India. At the Institute of Chartered Accountants of India, we delivered a webcast titled, “Gaining Value from ERM” to about 1,800 of their members.
As part of the trip, the delegation attended the Institute of Directors Global Convention on Corporate Ethics & Risk Management, held at the Bombay Stock Exchange in Mumbai. There, I had the opportunity to deliver a keynote and share my thoughts on the intersection between risk management and ethics, and how ERM can help to drive and support an ethical corporate culture.
RIMS global initiatives continue this month. I’m thrilled to be able to visit RIMS Japan Chapter and meet with our growing membership in Tokyo and Osaka. The concept that risk professionals can play a major part in the organization’s ability to successfully innovate continues to gain momentum in Japan, and I’m honored to speak on this topic.
As you can imagine, the majority of our efforts are now focused on RIMS 2017 Annual Conference & Exhibition. Just months away from the largest annual risk management event in the world, RIMS staff and volunteers are working around the clock to make this the best “RIMS” yet.
Scheduled for April 23rd – 26th in Philadelphia, this year’s conference program features 168 educational opportunities, presentations from nearly 350 subject matter experts, 400 exhibitors and countless networking opportunities with over 10,000 risk professionals from around the world.
A new addition in 2017 is the Executive Leadership Track. The track is developed specifically for senior professionals that drive strategy throughout their organizations. We’ve enlisted some of the world’s leading business thinkers and strategists to present these high-impact sessions and have opened them up to all registrants. You can see the list of Executive Leadership Track speakers here.
Other new additions to RIMS 2017 include the Technology and Risk education category with focus on innovation; RIMS Risk Manager of The Year and Risk Management Honor Roll Awards Breakfast on April 25th; and a Wellness ZENter located centrally in the Marketplace Exhibit Hall.
The Anita Benedetti Student Involvement Program has been a longstanding initiative where we invite exceptional university students to experience the RIMS Annual Conference. This year, we have expanded the program and, for the first time, we will welcome students from universities outside of North America. Jing Chen from Peking University (Beijing), Siming Fan from Peking University, Xinyi Huang from Fudan University (Shanghai) and Ashirwad Padhee from the National Insurance Academy (Pune, India) will attend RIMS 2017.
Finally, I would like to call your attention to two new reports issued by RIMS this month. The Benefits of Developing an Own Risk and Solvency Assessment Report developed by members of a joint project team representing the ERM Committees of the Property Casualty Insurers Association of America (PCI) and RIMS, and A Risk Management Guide to Reservation of Rights report put together by members of RIMS Standards and Practices Council. These and many other useful reports and surveys are available in RIMS Risk Knowledge library.
The first two months of 2017 has flown by, and RIMS is rocking and rolling. It is our priority to deliver the ultimate in risk management knowledge and opportunities to our members all year. And, for me, it has been more than rewarding to be a part of the action. Thank you.
Nowell R. Seaman
RIMS 2017 President
Fri, Jan 20, 2017 -
It is truly an honor to serve as your Society’s 63rd President. Throughout 20 plus years of involvement with RIMS, including nine on the board of directors, I continue to be amazed by the passion and dedication of risk management practitioners for advancing the profession.
The value of RIMS is undeniable. RIMS connects the world’s risk community, and allows practitioners to share experiences, support their colleagues, sharpen their skills and advance their organizations’ risk programs.
Today, risk management is becoming integral to setting strategy and value creation and, in most organizations, risk professionals are working closely with business functions such as legal, finance, human resources, information technology, compliance and others.
And the best is yet to come. My presidency will focus on moving Forward Together. United, risk professionals can influence change and continue the momentum that has seen a deeper reliance and appreciation for strong risk management capabilities around the globe.
Forward Together reflects my personal desire that RIMS will make big strides to execute its strategic plan and 2017 goals with excellence, and with all stakeholders – members, staff and industry partners – engaged, supportive and excited about the future of our profession.
For the Society to move forward together, we will continue to:
• Strengthen our skills and capabilities through leading content, resources and education.
• Gain inspiration and knowledge by collaborating and learning with our global community of peers and thought-leaders.
• Expand our risk perspective through worldwide events and conferences.
• Set the standard for the profession through RIMS-CRMP certification.
• Ensure that our voice is heard through our advocacy initiatives.
• And, develop greater opportunities for more professionals to move forward together with RIMS.
At our recent 2017 RIMS Leadership Forum, the chairs and vice chairs of our committees and councils, chapter leaders from around the world, the Board Directors and RIMS staff, met to discuss the future of the Society, its strategic direction and objectives for the year ahead. With input from this important group of stakeholders, we gained greater insight to refine our plans and develop resources to help our members reach and exceed their goals.
I am looking forward to an exciting year, building on RIMS’ successes to further support the advancement of risk management.
RIMS 2017 President
NOWELL SEAMAN NAMED 2017 PRESIDENT OF RIMS
Tue, Jan 03, 2017 -
Society Introduces 2017 Officers & Board of Directors
NEW YORK (January 3, 2017) — RIMS, the risk management society™, today announced that Nowell R. Seaman, RIMS-CRMP, FCIP, CRM will lead the Society as president for the 2017 term, effective January 1.
Mr. Seaman is the Director of Global Risk Management for Potash Corporation of Saskatchewan Inc. He has been a member of RIMS for 21 years and on its Board of Directors for nine years. Previously, Mr. Seaman served as the Society’s Vice President. He also served as the Chair of the RIMS Canada Council in 2003-2005, a director of RIMS Saskatchewan Chapter from 1997-2007 and chaired the secretariat responsible for the creation of the McGannon Foundation.
“The narrative is changing,” said RIMS 2017 President Nowell Seaman. “More organizations are recognizing the positive side of risk. They are witnessing the power of risk management and its ability to identify new resources, new processes and new strategies that can take the organization to new heights.
“RIMS has positioned itself as a leader in the industry. For years, it has provided practitioners with the tools and resources to advance professionally. As president, it is my goal to ensure that the Society’s momentum continues forward and that, together, our global network is prepared for whatever may come next.”
Officers on RIMS 2017 Board of Directors:
- President: Nowell R. Seaman, RIMS-CRMP, FCIP, CRM; Director, Global Risk Management, Potash Corporation of Saskatchewan Inc.
- Vice President: Robert Cartwright, Jr., CRM; Safety and Health Manager, Bridgestone Retail Operations, LLC.
- Treasurer: Steve Pottle, CIP, CRM; Director Risk Management Services, York University.
- Secretary: Gloria Brosius; Director, Risk Management and Insurance, Pinnacle Agriculture Holdings.
New Board Members:
- Ellen R. Dunkin, Esq.; Senior Vice President, General Counsel & Chief Risk Officer, Amalgamated Life Insurance Company.
- Soubhagya Parija; Senior Vice President and Chief Risk Officer, New York Power Authority.
Incumbent Board Members:
- Gordon L. Adams; Risk Management, SERVCO Pacific.
- Emily Cummins, CPA, CPCU, CISSP, ARM, ARE; Managing Director of Tax and Risk Management, National Rifle Association.
- Barry Dillard; Director, Claims Management, Walt Disney Parks and Resorts US.
- Laura Langone, JD, MBA; Senior Director, Global Risk Management and Insurance, PayPal, Inc. Holdings.
- Ex Officio: Julie C. Pemberton, RIMS-CRMP, ARM; Vice President, Risk Management, Diatom Ventures LLC.
- Janet Stein; Director, Risk Management & Insurance, University of Calgary.
- Robert Zhang; China Risk and Compliance Manager, IKEA (China) Investment Co., Ltd.
For more information about RIMS leadership, visit www.RIMS.org.
A Beautiful Perspective
Tue, Dec 20, 2016 -
Culture is an organizational attribute that risk professionals frequently discuss. An organization’s culture is pivotal to implementing and advancing risk management. Without a corporate culture that includes leadership’s support, our work can be futile.
Culture is impacted by the customs, beliefs, traditions and, in our case, the business practices associated with different groups around world. As I stand here in the beautiful city of Dubai for RIMS’ second Risk Forum Middle East, and as our businesses continue to transcend borders, it has never been more apparent that to gain the recognition necessary for success in our profession, we must make this focus on culture a priority.
It is hard for me to believe, but we are just few short weeks away from my final day as RIMS President and I have learned so much over this year and the six previous years I've served as a member of the RIMS Board. It has given me a new perspective of the passionate professionals who join RIMS and contribute to the advancement of our profession…and it’s truly inspirational. I’ve also gained a new outlook on risk management practices and challenges around the world. Expanding the Society's presence globally will allow us to share greater international insights with our current membership - and also allow RIMS to execute on its mission of advancing risk management abroad.
And we have accomplished so much over the past year. The RIMS-CRMP certification took off this year and we confirmed our first 96 certification holders. We entered into new markets – China, Singapore, Colombia, South Africa – with hopes RIMS growth in these regions in the years ahead. The Annual Conference & Exhibition saw its highest attendance since 2003. On top of that, over 70 countries were represented by its attendees. We acquired the Risk Manager of the Year Award and are excited to continue honoring the best in class in the risk management profession with this award. All great accomplishments that add an inspiring perspective on just how great this Society is and will continue to be.
It seems like just yesterday we were all in San Diego and yet, this month, RIMS launched registration for RIMS 2017 Annual Conference & Exhibition in Philadelphia on April 23 – 26. The conference will offer more than 160 education sessions, giving professionals a global perspective on a wide range of the most relevant risk management topics. Our keynotes are set – including the lovable, award winning actor Michael J. Fox – and the networking events are planned.
Some of the new features for this year’s Annual Conference include an Executive Leadership Track, a new educational track titled, “Technology and Risk” that will focus on the business impact of new technologies, the first presentation of the RIMS Risk Management of the Year Award and a Wellness ZENter to make sure our attendees have the most rewarding, comfortable and healthy experience at RIMS 2017. To attend RIMS 2017, register at www.RIMS.org/RIMS2017.
A big part of the conference is recognizing the great work that YOU do. The Society is currently accepting nominations for its chapter awards, individual honors and the Risk Management Hall of Fame by January 13th. The Risk Manager of the Year Award – our newest honor – requires nominations to be submitted by December 21st. To learn more about RIMS awards program or to submit a nomination, visit www.RIMS.org/awards.
To gain better perspective on our work and the work of our peers, we proudly released the 2016 the J.D. Power Large Business Commercial Insurance Study. The annual report measures risk professionals’ satisfaction with commercial insurers and insurance brokers. Congratulations to Lockton and XL Catlin for receiving top honors. The complete survey is available through J.D. Power and the report’s highlights can be found in RIMS Risk Knowledge library.
RIMS global initiatives remain a priority and are key to gaining new perspectives. While I spoke in front of a crowd of 400 attendees at RIMS Risk Forum Middle East just last week, RIMS Board Director Robert Zhang met with students at Peking University in China. During his lecture at Peking University, Robert had the opportunity to share his career experiences and the advantages of being a part of this Society. RIMS continues to lead the way. We continue to produce the highest quality and most relevant resources and conferences. We bring together the world’s risk management community, enhancing each of our perspectives and profoundly advancing our ability to achieve our goals.
This year has also given me the opportunity to see first-hand RIMS staff's commitment to excellence in executing on the vision of the board. The work that RIMS CEO Mary Roth and her team do on a daily basis to ensure that RIMS remains the best in business is outstanding. Their passion for the Society and the profession is inspiring and I want to thank them for everything that they do.
The Society’s Board of Directors is made up of some of the most dedicated professionals with whom I have had the privilege to work. I can’t express enough how amazing you all are and how important your support has been throughout my presidency.
Finally, I’d like to thank YOU, our members. Thank you for sharing your experiences, your insight and, most importantly, your time. Your stories have provided RIMS and your fellow practitioners with invaluable perspective and are the reason the Society continues to thrive.
We’re looking forward to bringing you more great opportunities in the year ahead. It has been my pleasure to serve as RIMS 62nd President - and I'm excited about what the next year holds as our new executive committee prepares for 2017!
Happy and healthy holidays and New Year!
Julie C. Pemberton
RIMS 2016 President
Empowering Strategic Decisions
Fri, Nov 04, 2016 -
Just last week, I had the opportunity to join more than 300 risk management professionals at RIMS ERM Conference in Atlanta. This group of committed practitioners have been called on by their organizations to build a risk-aware culture, and enhance the business’ ability to achieve strategic objectives.
The ERM programs that were shared were outstanding and highlighted the value that an ERM approach can add to the organization. Fourteen organizations were awarded for using RIMS Risk Maturity Model to reach a high-level of ERM maturity. Congratulations to Asia Cell, Argo Group, Centene Corporation, Greater Toronto Airports Authority, Honeywell, International Air Transport Association, Intuit, Lego Systems A/S, Lockheed Martin, Michigan Professional Insurance Exchange, Ooredoo Oman, Peoples Bancorp Inc., Radian Group Inc. and Wataniya Mobile Palestine.
The Society recognizes that more and more organizations are leaning on risk professionals to be strategic advisors and, in the past couple of weeks, has produced several new executive reports to help them be just that.
At the ERM Conference, the Society launched two new reports Improving Strategic Risk Management Using Macro Risk Analysis and Bridging Strategy and Implementation with Strategic Risk Management.
For risk professionals building their cyber risk strategy, we encourage them to check out RIMS 2016 Cyber Survey for benchmarking information. And, to give our membership a better perspective of the risk management landscape in Latin America, the Society teamed up with Marsh to develop the 2016 Risk Management in Latin America report. The full report is in Spanish and the Executive Summary is in English. The full Risk Management in Latin America report in English will be available later this month. All of RIMS reports are available in the RIMS Risk Knowledge library.
Continuing our work to strengthen our global network, on December 13rd and 14th RIMS will host the second annual RIMS Risk Forum Middle East in Dubai. The Forum has an impressive lineup of speakers including risk management leaders from New York University Abu Dhabi, Kuwait Petroleum Corporation, the Dubai Centre of Risk Management, Kerzer International, among others. For details about RIMS Risk Forum Middle East or to register, visit www.rims.org/RiskForum/Dubai16.
Here in North America, specifically the United States, we are embarking on one of the most intriguing presidential elections of our time – two candidates with two polar opposite visions for the future of the country. We invite risk professionals to join RIMS for a special webcast on November 17th that will discuss the results of the 2016 United States Presidential and Congressional elections and how, based upon the outcome, practitioners may be affected.
The webcast – Policy Issues in 2017: What the Election Means for Risk Managers – was developed by RIMS Government Affairs team and will be led by Seth Appleton, Chief of Staff for Congressman Blaine Luetkemeyer of Missouri, and Patricia A. Henry, the Global Government Affairs Officer for Chubb Group. To hear how the results of this U.S. election could impact your organization’s risk management strategies, practitioners can register here.
Regardless of the practitioner’s experience level, their responsibilities within their organization, their geographic location or even their political leaders, RIMS stands ready to support all risk professionals’ understanding of the evolution of risk, enabling them to deliver valuable strategic direction to their organizations.
Thank you for sharing your experiences with us and allowing RIMS to be the go-to source for all of your risk management needs.
RIMS 2016 President
Fri, Oct 07, 2016 -
The creativity and the savvy of today’s risk professional has become critical to organizational success and, as such, the tradition of honoring their work annually must live on. RIMS has stepped in to continue to honor those deserving practitioners with the prestigious Risk Manager of the Year Award. The Society acquired the program from Crain Communications this September and we will be ready to celebrate this year’s winner at our Annual Conference & Exhibition in Philadelphia (April 23-26, 2017).
Congratulations are certainly in order for the organizers of RIMS Canada Conference and our host, RIMS Southern Alberta Chapter. In addition to sitting in and learning from the conference’s outstanding program, I had the opportunity to join a lively panel discussion on the future of enterprise risk management. The conference was capped off by hono(u)ring Mark Day, one of the Government of Alberta’s leaders in risk management, with the Donald M. Stuart Award, Canada’s highest honor within the risk management field.
Registration opened this month for RIMS second Risk Forum Middle East and we’re hoping to see the same success that we just experienced at our second Forum in Latin America. The Risk Forum Middle East is in Dubai on December 13 – 14 and we’re excited and honored to work, once again, with the General Directorate of Residency and Foreigners Affairs in Dubai (GDRFA) to help coordinate the event.
And, while registration is just opening for one event, another one is about to commence. RIMS ERM Conference is just around the corner and I’m excited to join practitioners in Atlanta at the end of the month. RIMS has a long history of encouraging student involvement at its events and, with the support of the Spencer Educational Foundation, we’re proud to be able to provide funds to 16 students from seven universities.
In-person networking at our events is just one of the ways we support the world’s risk management community. Online learning is another. In October, RIMS has two webcasts lined up, Workplace Violence and Active Shooter: Develop a Culture of Preparedness and How to Boost Company Valuation with the RIMS Risk Maturity Model for ERM. Joining the webcasts live allows participants the chance to interact with presenters, and all of RIMS webcasts are also available on our website after their completion.
In print, the Society issued its very first RiskPAC Quarterly, a resource that allows us to deliver information to members about our government affairs initiatives, current risk management issues surfacing in government, as well as some helpful tips and best practices for engaging elected officials. The next edition is scheduled for December 2016.
Also, the Society recently published a new executive report titled, “Risk Management’s Role in Mergers & Acquisitions.” The report shares the experiences of several risk professionals – including myself – and how we were able to add value to our organizations during complex merger and acquisition processes. It is now available in RIMS Risk Knowledge library, along with several other recently released publications and articles.
As always, it is an honor for RIMS to promote the value of risk management and we look forward to doing so for years to come.
RIMS 2016 President
The Learning Continuum
Fri, Sep 09, 2016 -
No matter the industry, professionals have turned to continuing education opportunities, certifications and designations to help them stay ahead and adapt to today’s erratic business environment. And, to support the world’s risk management community, RIMS has continued to enhance its programming in these areas to help members position themselves as valuable contributors within their organizations.
The global RIMS-CRMP certification allows risk practitioners to prove their knowledge and commitment to professional excellence. We recently announced the first class of 90 RIMS-CRMP holders and we’re ready to welcome more. In late August, registration opened for the next exam that will be available online during a window of October 15 – December 15. Make sure to send your application in so we can verify your eligibility.
RIMS online resources provide opportunities for pros to stay in step with the latest trends. This month, RIMS International Committee will share a new webcast titled, “Doing Business in China.” Led by RIMS Board Director Robert Zhang and other industry experts, the webcast will look at how a risk manager can contribute to corporate investment strategies and effectively measure risks of doing business in China.
RIMS is also pursuing ways to share its online courses with more global audiences. RIMS Fundamentals of Insurance and Cyber Risk and Data Security online courses are now offered in Spanish.
In-person events are another way we keep our members up-to-speed. In the next couple of weeks I will be attending RIMS Canada Conference in Calgary and RIMS Western Regional Conference in Seattle. And, while it seems far off into the future, in October I’ll be headed to RIMS Risk Forum Latin America (October 3-4 in Bogata, Colombia) and RIMS ERM Conference 2016 (October 24-25 in Atlanta). Registration information and agendas for both of those October events are now available online.
This month, the Society published a new executive report, “Decoding Political Risk Management” that provides a guide for risk professionals assessing their organizations’ political risk. It defines political risk and explores top concerns for organizations as they expand globally, the characteristics of these risks, mitigation strategies and the insurance market. This report, along with many others, can be found in RIMS Risk Knowledge library.
I can’t tell you how excited I am to join the Spencer Educational Foundation for its 8th annual gala on September 15. Being a part of an organization that’s focused on mentoring and supporting the next generation of risk professionals is truly rewarding. This year’s gala in New York will honor Louis P. Iglesias, President, Allied World, and Christine LaSala, North American Chair, Willis Towers Watson, for their contributions to and support of risk management and insurance education. Seats are still available, so if you’d like to join the festivities, visit www.spencered.org.
Just last week, I returned home from RIMS Risk Forum Australasia and the Asia Risk & Resilience Conference 2016 in Singapore. I can confirm that the thirst for risk management knowledge is shared globally. RIMS stands ready to quench that thirst and pledges to continue to provide an array of first-class learning opportunities for its members around the world.
RIMS 2016 President
Time to Shine
Mon, Aug 01, 2016 -
No matter the industry, it is imperative that professionals continue to invest in themselves. Whether it’s through networking or reading up on the latest industry trends, it is our job to reassure leadership that they’ve employed an individual who is dedicated to their craft, who is eager to learn and who is constantly searching for ways to excel and provide even greater value to the organization.
RIMS recently celebrated individual members who have taken a major step in affirming their professional value by becoming the first RIMS-Certified Risk Management Professional (RIMS-CRMP) certification holders. The results of the April exam are in. Of the 123 who took the exam 90 passed this global certification. RIMS congratulates the first class of RIMS-CRMP holders and welcomes others to join them once the exam is available online in October.
Just over a month ago, RIMS was able to shine the light on its value, hosting its first RIMS Risk Management Academy with Lloyd’s of London. The Academy offered attendees an interactive learning environment that included the Market Experience Session – an experience where participants observed the face-to-face negotiation between a risk manager and an underwriter. The event was highly successful and a great introduction for many attendees to our industry-leading resources.
RIMS chapters also do a remarkable job in helping members shine in their workplace. Last week, RIMS Florida Educational Conference welcomed hundreds of risk professionals for four days of learning and networking. I’ve been a member of RIMS for more than 20 years and this was my first trip to the conference. It was a privilege to join the festivities in Naples and share my presentation about the latest RIMS initiatives with attendees.My international travels as RIMS President really kick into high-gear in August. RIMS Risk Forum Australasia will be my first stop. Ready for our fifth annual forum in the region, this year’s conference will, once again, give our attendees the insight they need to shine within their organizations. The conference will feature a stellar lineup expert speakers and thought-leaders including world-class Australian rugby star – turned insurance industry leader – Phil Kearns. We’re excited to welcome the region’s risk management community to Melbourne on August 22-23 for what we know will be another outstanding industry event. My time in Australia will be short as, almost immediately following my remarks, I will hop on a flight to Singapore for the Asia Risk & Resilience Conference 2016 on August 25. I’m honored to be invited by RIMAS and Business Continuity Planning Asia to present on enterprise risk management. For most, keeping up with my international travels would be near impossible. Understanding that travel isn’t easy for everyone, the Society continues to enhance its online learning opportunities. Just recently, RIMS held its first webcast series uniquely tailored for three different regions of the world. The Brexit: Political Risk in the Heart of the G7 webcast was delivered by Control Risks, a consulting firm specializing in global political risks, to audiences in Asia, Europe and North America.In addition to our Brexit series, RIMS is now offering three new online courses. For a long time, Risk Management Techniques, Fundamentals of Insurance and Cyber Risk and Data Security were in-person workshops hosted by the Society. And, now, we are proud to offer these courses online. All of our webcasts are cataloged and available for replay on the RIMS website. I encourage you to check them out. It’s your time to shine. Let RIMS be your source for cutting-edge industry insight. We look forward to welcoming you at our regional events this fall, and providing you with even more in the months ahead.
RIMS 2016 President
Fri, Jun 10, 2016 -
Organizations rely on their risk professionals to be proactive. It’s on us to not only understand the organization’s history but we must also be up-to-speed on industry trends, the organization’s strategic direction and ready for whatever might come next.
With the enormous challenge our members face making difficult decisions to manage known and emerging risks for their organizations, RIMS must be proactive so that we can support our members through this challenging journey.
One key risk our profession is facing is a talent gap from the upcoming baby boomer retirement phase. Rising risk professionals are the key to the profession’s future and the Society has focused its energy on this critical group. This past weekend, RIMS held it’s first-ever RIMS NeXtGen Summit. One hundred up-and-coming risk professionals attended a two-day conference in Washington, D.C. and took advantage of education sessions developed specifically for them. I had the opportunity to attend and I can’t express enough how refreshing it was to see these new professionals so enthusiastic about their careers in the industry.
Advocacy is another way RIMS works to ensure that our professional needs are sustained for years to come. At RIMS 2016 Legislative Summit – also this past week – members from across United States gathered to learn and discuss the legislative priorities that directly impact our work. The conversations held during the 70 meetings with legislators and staff focused on proposed legislation on cyber security, ADA protection and tax treatment for captives. We also had discussions in preparation for the National Flood Insurance Program reauthorization coming up next year. We were privileged to have Congresswoman Marsha Blackburn (R-TN) as a guest speaker for our luncheon on the Hill.
We’ve also been active advocating for both current and prospective members outside of the US. By uncovering best practices used in the U.S. and by our international colleagues, RIMS is able to share different perspectives and strategies that help our members stay ahead of the curve.
In May, RIMS participated in a Risk Summit in Johannesburg, South Africa and it was an overwhelming success. The Society partnered with the Institute of Risk Management South Africa (IRMSA) and welcomed more than 150 participants at this inaugural event. RIMS presented on developments in risk management in the United States and shared some of our existing resources with attendees. These types of forums are a fantastic source of industry insight. We look forward to strengthening our partnership with IRMSA and to hosting several more international summits soon.
The relationships we build within the organization can also enhance our ability to be proactive. A new executive report issued by RIMS titled, “Risk Taker vs. Risk Manager” explores goals, responsibilities and the value of collaboration between those charged with pursuing new opportunities and risk professionals. It is available in RIMS Risk Knowledge library.
Only when armed with information can risk professionals become integral and proactive strategic advisors within their organization. And there is no better place for industry-leading knowledge than at the RIMS ERM Conference. The conference is a must-attend for anyone considering to implement or looking to take their established ERM program to new heights. Registration is now open and we hope you are able to join us in Atlanta this October.
Information also comes from our members who are one of our greatest sources for that first-hand industry perspective. We are calling on you to take part and become a speaker at RIMS 2017 Annual Conference & Exhibition in Philadelphia. Session submissions are now being accepted.
We have so much more for our members in the second half of the year. RIMS Risk Forums around the world, regional RIMS conferences held by our chapters and even more reports and surveys. RIMS looks forward to continuing to provide our members with the tools to be proactive and lead within their organizations.
RIMS 2016 President
A Record Breaker
Wed, Apr 27, 2016 -
The hours, the days, weeks and months of hard work that go into hosting RIMS Annual Conference & Exhibition certainly paid off. It was a record breaking year for the conference and it once again proved why the RIMS’ network of risk professionals is the greatest in the world.
Several records were broken in San Diego. One hundred and eighty-two educational sessions, 406 exhibitors, more than 75 countries represented and the total attendance neared 10,500 – a number that RIMS has not hit since our 2003 conference in Chicago. Needless to say, RIMS 2016 Annual Conference was an overwhelming success.
While it’s too late now to benefit from the countless in-person networking opportunities presented at the conference, risk professionals can still take advantage of the conference’s educational offerings. PlaybackRIMS is a new feature that we added this year. Complimentary for VIP Conference Registrants, the on-demand, pay-per-view feature allows anyone to watch presentations – with slides – and learn from the 20 most popular sessions at RIMS ’16. You can preview the available sessions at www.playbackrims.com. Also, many have uploaded handouts from their sessions at www.RIMS.org/2016handouts.
In addition to the new records set at RIMS ’16, the Society also released three new publications during the conference:
- RIMS Benchmark Survey, produced with Advisen, provides an inside look at what organizations are spending to protect their assets and people. This year, the annual benchmarking report looked at the Total Cost of Risk (TCOR) for 52,000 insurance programs from 1,457 organizations that span 14 different industry categories. This year’s book features a new section on Cyber Insurance, taking a look at what organizations are spending to protect data.
- At the conference, the session about the Marsh/RIMS Excellence in Risk Management Report XIII was one of the most popular. The 13th edition of this annual report focused on forecasting emerging risks and the value ERM can offer organizations hoping to leverage future uncertainties.
In more ways than one, RIMS Annual Conference & Exhibition is the ultimate learning experience the risk management industry has to offer. We hope that you will join us next year in Philadelphia on April 23rd through the 26th…and help us break even more records.
RIMS continues to enhance its educational offerings with a number of new forums and conferences. Next week, RIMS will host its first-ever Risk Summit South Africa. Working with our newest strategic partner IRMSA (Institute for Risk Management South Africa), RIMS Vice President of Strategic Initiatives Carol Fox is set to deliver a presentation on risk management trends in the US to the already 90 professionals who have registered to join us in Johannesburg.
With San Diego in our rearview mirror, it’s time for us to get focused on the NeXtGen Summit and RIMS Legislative Forum scheduled for the first weekend of June in Washington, D.C. I’ll be there. I hope you will too.
Finally, I would like to end this message by thanking all the people who helped make my experience as president at RIMS ’16 unforgettable. Staff, fellow Board Directors, our network of passionate volunteers, members and everyone else who participated – each of you played a big part in making the event so special. Thank you.
With that said, my work as the RIMS president is far from over. In the next seven months, I plan to help this Society keep the momentum going. Through new publications, learning opportunities, forums and other risk management resources we plan to deliver, we can’t wait to share with you even more thought-leading content throughout the year.
RIMS 2016 President
A Worldly Education
Wed, Mar 30, 2016 -
No matter what stage of your career you are in, it’s never too late to embrace that inner curiosity and learn something new.
For RIMS to maintain its position as the leading risk management association, we recognize the importance of continuing to learn about our members, industry trends and our risk management counterparts around the globe.
In March, RIMS assembled a China Delegation comprising CEO Mary Roth, members of the Society’s 2016 Board of Directors, staff and myself. RIMS Board Director Robert Zhang, China Risk and Compliance Manager for IKEA Investment Co., Ltd., took the lead and developed a comprehensive agenda that included highly-productive meetings with integral players in China’s insurance market, government and at universities in Beijing and Shanghai. The trip was successful, giving the Society an opportunity to engage the country’s thriving risk management community, to learn about their programs, their challenges and then determine how RIMS can support their work moving forward.
In just over a week, the world’s risk management community will descend on San Diego for RIMS 2016 Annual Conference & Exhibition, the ultimate risk management learning experience.
New at this year’s conference is a Professional Development Lounge – to help professionals learn more about themselves and what companies are looking for – a Global Lounge – to share risk management perspective from around the world – and three General Session keynoters who will each share very different but equally thought-provoking TED-style presentations.
In addition to its new additions, our 54th Annual Conference will feature 400 solutions providers in the Exhibit Hall, 180 educational sessions, 400 expert speakers and we are expecting 10,000 attendees from more than 50 countries. For those who can’t make it to San Diego, you’ll be able to watch the General Session live by visiting www.RIMS.org/RIMS16.
The Spencer-RIMS Risk Management Challenge is in its third year and it too has been a great way to educate and get budding risk management students excited about the profession. Eight university teams have been selected to compete in at the Annual Conference and will be asked to provide their solutions to a real risk management case-study from LEGO. Congratulations to Appalachian State University, Butler University, Florida State University, Illinois State University, St. Joseph’s University, St. Mary’s University, Temple University and University of Georgia. See you all in San Diego!
Another way RIMS helps educate others about the value of risk management is through its advocacy efforts. This past month, the Society hosted its local RIMS on the Hill event in Sacramento. The two-day meeting gave practitioners a forum to discuss legislation that is currently impacting the area’s organizations and then meet face-to-face with state representatives. Conversations focused on Workers’ Compensation and Employee Safety issues and it was great lead-in to RIMS Legislative Summit, scheduled for June 6 and 7 in Washington, D.C.
Finally, I wanted to share that, this week, I have volunteered to take part in RIMS Chicago Chapter’s “Job Shadow Day.” I had the chance to welcome a very smart and very eager student from University of Wisconsin-Madison to my office and give her a quick glimpse at what a day in the life of a risk professional looks like.
Whether it is a student, a young professional or a new colleague, mentoring is a gift that we can all give. It truly is a rewarding experience. For many of us, it was a mentor who got us through our first few years in the professional world or who generously shared their experiences on how to manage the organization through a new initiative. The opportunities are abundant – even those one-on-one mentoring connections that can be made virtually on Opis – so I encourage you all to step up and be an influential part of someone’s risk management education.
Looking forward to seeing many of you at RIMS ’16 in San Diego next week and, more importantly, joining you on this never-ending educational journey.
RIMS 2016 President
RIMS: From A to Zika
Wed, Mar 02, 2016 -
Now that the dust has settled, I can clearly see that many of the objectives and initiatives we have set for the year are well underway. 2016 is shaping up to be an outstanding year for RIMS.
Late last year, RIMS announced its new mission statement “To educate, engage and advocate for the global risk community.” To achieve that mission RIMS must innovate and February got off to a great start.
As information about the Zika virus consumed mainstream media, RIMS showed its adaptability and quickly moved to develop content to help risk practitioners navigate this emerging risk. The Zika Virus Outbreak: Risk Management During a Growing Pandemic webcast was a huge success and attracted hundreds. The webcast was followed up by coverage in RIMS’ Risk Management Monitor blog and, also resulted in the creation of a session at RIMS 2016 Annual Conference Exhibition in San Diego. There is still time for you to register and join us in San Diego.
Cyber risk continues to be the top concern of risk professionals around the world. This month, RIMS held another well-attended webcast titled Cyber Risk: A Boardroom Issue. The reception these webcasts received tell us that we’re on to something and we’ll continue to identify opportunities throughout the year to deliver thought-leading information on pressing issues that risk professionals can access right from their desks.
Opis is another resource we’re using to help our members to stay ahead of the curve. The online network has seen over 1,300 engagements created and users have joined from 29 countries. Chapter engagements were created in February for all of our chapters. The goal is to give members a vehicle to interact and share content with their local peers during the time between chapter meetings…or in the case that you missed one.
Because change is constant, staying up-to-date with best practices and risk management trends has become crucial to successfully managing risk. The RIMS-CRMP certification is not only a great way to stay current but it also demonstrates and confirms your expertise. The first exam for the RIMS-CRMP is in-person on April 10th in San Diego. Already more than half of the 200 available exam seats have been filled. If you’re interested in sitting for this new, global certification, I encourage you to visit www.RIMS.org/certificationto see if you qualify. The deadline to apply is March 11.
When you speak about being current, who has a better finger on the pulse of the latest business trends than the next generation of professionals? RIMS Board recognizes the importance this demographic will play on the future of our profession and has announced plans to host our first-ever NeXtGen Summit. The summit, scheduled for June in Washington, D.C., is a can’t-miss educational and networking event for rising risk professionals who are looking to shift their careers into high-gear. It precedes the RIMS Legislative Summit and registration is open for both.
RIMS international efforts for 2016 will kick into high gear in March. In just a few weeks, I will have the privilege to deliver keynote addresses to RIMS Japan Chapter members in Osaka and Tokyo. Following Japan, myself, several of RIMS Board Directors and RIMS Staff will meet in Beijing for our first RIMS China Delegation. The delegation is new this year and is an exploratory mission to further develop partnerships with leading members of the region’s flourishing risk management community.
In addition to updates from my travels, in the weeks ahead, RIMS looks forward to sharing more thought-leading content to keep our members at the forefront of risk.
RIMS 2016 President
Just An Idea
Thu, Jan 28, 2016 -
Although it was shortly after I graduated high school, I remember the day as if it was just yesterday when my boss approached me and said, “Julie, the company is going through reorganization and effective next week, your role is being transferred to another department. We’re moving you from Tax to Risk Management.”
My initial reaction was “Risk Management? That is not what I signed up for! Insurance policies renew once a year, what will I do the rest of the year?” Confused and resistant to change, I went kicking and screaming (internally, not externally) and, obviously, with little understanding of what risk management actually was. I soon developed an interest in the work – and the rest, as they say, is history.
It is humbling and slightly surreal to believe that my decision to accept that new position was a pivotal moment leading to a career in risk management. Embracing that change resulted in a hunger to further my education, a passion for the profession, and has ultimately given me the privilege of serving as president of the world’s greatest risk management association.
Since that time, I’ve learned many things. One being that change is constant. From the day I transitioned into that new role to today, the risk management role has changed significantly. As risk professionals, our responsibilities continue to evolve and grow. Today, in addition to assessing and mitigating the downside of risk, we are developing creative solutions – partnering with the business to enable risk taking and optimize organizational success.
Supporting risk taking with these innovative ideas gives us the power to further our careers and cement the risk professional’s position as an integral contributor to the organization’s strategic and operational decision-making process. RIMS must not only be ready to advance its own ideas, but also support its members with resources to help convert their ideas into valuable solutions for their organizations.
Along with a new mission statement which is “To educate, engage and advocate for the global risk management community,” the Society has committed to four Strategic Priorities to help our members turn IDEAS INTO VALUE:
1. INNOVATE: Innovation must be embraced even if it’s disruptive. The Society will continue to be forward-thinking when it comes to establishing a sustainable and adaptable organizational structure and processes to best serve our members.
2. DEVELOP: RIMS will continue to equip risk professionals to ensure they are successful in this evolving environment. The creation of cutting-edge content specific to the most relevant issues that challenge today’s risk professional is pivotal to the future of the Society and the discipline.
3. ENGAGE: Risk management continues to be dynamic with emerging risks, changing regulations, advancements in technology, globalization and, inevitably, more uncertainties. Ensuring our active and engaged risk management community stays ahead of the curve is imperative. Through effective communication strategies and accessible learning opportunities, RIMS will continue to foster the exchange of ideas among our involved professional network and industry connections.
4. ADVOCATE: The Society has long been the advocate for risk management and the unquestionable value the business function delivers to the organization. RIMS’ advocacy efforts will continue to leverage opportunities, transcend geographic borders and support a diverse field of professionals.
Already this year, Board Directors, staff and committee leaders met in Orlando for RIMS’ second annual Leadership Forum to align on our strategic objectives and refine action planning to achieve these priorities. In the year ahead, RIMS will unveil new international forums, new networking opportunities, professional development opportunities – like our RIMS-CRMP certification – enhancements to our existing products, industry-leading resources, reports and surveys and much more.
2016 is poised to be another remarkable year for RIMS and it is truly an honor to be selected to lead this Society as we invest in the future.
RIMS 2016 President