RIMS REPORT -- Exploring the Risk Committee Advantage

February 23, 2015

Report Highlights the Value of Developing a Strong Operational Risk Committee

NEW YORK (February 23, 2015) — Risk committees have proven to be an effective tool for risk professionals to bridge the operational gap, understand more deeply the risks taken and educate key stakeholders throughout the organization about the entities’ risk strategy, tolerance and appetite – according to RIMS new executive report titled, “Exploring the Risk Committee Advantage.” 

Based on interviews with practicing risk professionals from RIMS Board of Directors, the report defines the risk committee concept with insight on the types of committees and roles risk professionals can take during its implementation, facilitation and the communication of its findings.  The report also highlights the value of developing a strong operational risk committee, while reviewing regulations and potential challenges.

“Breaking down the silos within an organization and getting everyone thinking about risk is a goal toward which many risk professionals aim,” said RIMS President Rick Roberts.  “A risk committee is a sure-fire way to achieve this fundamental risk management objective.”

Contributors to the Executive Report included the following RIMS Board Directors:

  • Gordon Adams, Chief Risk Officer, Tri-Marine International, Inc.;
  • Gloria Brosius, Director, Risk Management and Insurance Programs, Farm Credit Council Services, Inc.;
  • John Phelps, Director, Business Risk Solutions, Blue Cross and Blue Shield of Florida, Inc.;
  • Rick Roberts, Director of Risk Management and Employee Benefits, Ensign-Bickford Industries, Inc.

      The report is available in RIMS Risk Knowledge library at: www.RIMS.org/RiskKnowledge.

For more information, contact:

Josh Salter, Director of Communications, (212) 655-6059 or JSalter@rims.org

About RIMS

As the preeminent organization dedicated to promoting the profession 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 is committed to advancing risk management capabilities for organizational success, bringing networking, professional development and education opportunities to its membership of more than 10,000 risk management professionals who are located in more than 60 countries. For more information on RIMS, visit www.RIMS.org

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