New York City, NY (April 10, 2024) – The Spencer-RIMS Risk Management Challenge judging committee has selected eight university teams to compete at RISKWORLD® in San Diego, CA, for the Challenge’s top honor. The Challenge is an annual global student competition that aims to inspire future risk leaders through a real-world business case study.
The Spencer Educational Foundation worked closely with the City of Tukwila in Washington State to develop a case study that students could use to learn about and create effective risk management strategies. The goals for students were to provide a justification for why the City should prioritize and support risk management; identify 3-5 initiatives to recognize and minimize the most significant risks to the City; and explain how they would incorporate enterprise risk management principles in all departments and get approval from internal stakeholders.
This year, 144 students across 38 university teams participated in the Challenge. The student teams represented nine different countries: Canada, China, Ghana, India, Kenya, Nigeria, Senegal, South Africa, and USA. Twenty-two of the teams were first-time applicants, and six of the universities were Minority-Serving Institutions (MSIs). Based on the solutions they developed for the 2024 case study, the top eight teams were invited to present their strategies at RISKWORLD in San Diego, CA USA, from May 5 to May 8, 2024.
The eight university teams representing four countries advancing to the final rounds of the Challenge are:
- Appalachian State University – Boone, NC, USA
- Durban University of Technology – Durban, South Africa
- Illinois State University – Normal, IL, USA
- Institute of Insurance and Risk Management – Hyderabad, India
- Milpark Education – Cape Town, South Africa
- Peking University – Beijing, China
- St. Mary's University – San Antonio, TX, USA
- University of Wisconsin-Madison – Madison, WI, USA
A diverse panel of six risk management professionals scored each team’s Risk Management Report and assessed the teams’ risk identification skills, risk reporting, analysis, risk strategies, professionalism, and innovation. This year’s judges are:
- Victoria Dinh – Director of Risk Management at Anschutz Entertainment Group, Inc. (AEG)
- Cynthia Garcia – Chief Risk Officer at Bernards
- Carnell Jones – Risk Manager at Trinitas Ventures
- Thabile Nyaba – Chief Risk & Sustainability Officer at Old Mutual Insure, South Africa
- Petyah Triche – Assistant Risk Manager at the City of Sunrise
- Tyler Vaughan – Insurance Risk Analyst at Avery Dennison
On May 5, the top eight teams will present their findings to the panel of judges and will answer live questions. The top three teams will be selected after the first round of presentations, and these finalists will present one last time at the conference on May 6 in front of an open session for all RISKWORLD attendees. The winning team will be announced at the Spencer Soirée later that evening (5-7 PM PT at the Marriott Marquis Hotel in San Diego).
To learn more about the annual Spencer-RIMS Risk Management Challenge, visit www.spencered.org/2024-risk-management-challenge.
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About the Spencer Educational Foundation
The Spencer Educational Foundation is a non-profit organization committed to fostering the education and professional development of risk management and insurance students. Since its establishment in 1979, the Foundation has been the foremost organization helping students succeed by providing scholarships, grants, and internships to support talented individuals pursuing careers in these fields. To learn more about the Spencer Educational Foundation and its programs, please visit www.spencered.org.
About RISKWORLD®
Launched in 1963 as RIMS Annual Conference & Exhibition, RISKWORLD® attracts 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 learning and networking experience. The four-day. RISKWORLD experience offers more than 150 learning opportunities, keynote presentations, special events, and an expansive Marketplace with hundreds of solutions providers – all with countless opportunities to engage and elevate the risk community. RISKWORLD 2024 is scheduled for May 5 - 8 in San Diego. RIMS will celebrate its 75th Anniversary at RISKWORLD 2025 in Chicago from May 4 - 7.
About RIMS
RIMS, the risk management society®️, empowers risk professionals to make the world safer, more secure, and more sustainable. Through networking, professional development, certification, advocacy, and research, RIMS and its 80 chapters serves more than 200,000 risk practitioners and business leaders from over 75 countries. Founded in 1950, the Society publishes the award-winning Risk Management Magazine and produces RISKWORLD®️, the largest annual gathering of global risk professionals. RIMS embraces diversity, equity and inclusion and welcomes all risk professionals to connect and learn, explore the online Risk Knowledge library, tune into the RIMScast podcast series, and engage the global risk community via RIMS social media channels. To learn more, visit https://www.RIMS.org.
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