TATA Steel Limited Wins RIMS ERM Global Award of Distinction for Second Straight Year

ERM at Tata Has Created a Culture of Risk Intelligence and Business Resilience

November 06, 2023

Financial Institutions American Eagle and Sterling Bank & Trust Awarded RIMS ERM Honorable Mentions

NEW YORK (November 3, 2023)RIMS, the risk management society®, presented Tata Steel Limited with the 2023 ERM Global Award of Distinction at RIMS ERM Conference in Denver. For the second straight year, the 10th largest steel producer in the world was recognized for its continued success implementing an ERM program that is embraced throughout the organization and credited for informing strategic decision making, as well as the successful achievement of business objectives.

Tata Steel Limited’s ERM program is viewed as a business performance and technology enabler, as opposed to a compliance requirement. The program continues to be instrumental in the organization’s ability to effectively and accurately identify and assess risks, develop impactful mitigation strategies, while maintaining trust with external stakeholders and keeping long-term goals attainable.  

This year, RIMS recognized two other organizations with Honorable Mentions for developing, implementing and maturing ERM within their organizations. Honorees included:

  • American Eagle Financial Credit Union
  • Sterling Bank & Trust, FSB

“Enterprise Risk Management takes risk management to the next level,” said RIMS President Jennifer Santiago, RIMS-CRMP, MBA, ARM. “ERM allows organizations to identify both threats and opportunities, improve decision-making and drive better outcomes. Tata Steel, American Eagle and Sterling Bank & Trust have done remarkable work building risk-aware cultures that have paved the way for their business leaders to reach and exceed their goals. Congratulations to Tata Steel for their continued success and, on behalf of the RIMS community, we thank them for sharing their ERM journey with us.”

Judging criteria for the Global ERM Award of Distinction includes measurable, tangible and sustainable results; unique program strengths; ERM innovation that links risk with strategy or performance; and the program’s ability to build sustaining risk management capabilities. The panel comprises members of RIMS Strategic and Enterprise Risk Management Council.

To access Society’s thought-leading enterprise risk management knowledge, resources and research, visit RIMS Strategic and Enterprise Risk Center and RIMS Risk Knowledge library.

RIMS ERM Conference 2023 was held November 2 – 3 in Denver. The conference featured a stellar lineup of risk thought-leaders who shared their experiences applying ERM practices to address ESG concerns, technology adoption and innovation, geopolitical risks, as well as offering best practices for aligning risk management with strategy. The conference featured a keynote presentation by innovation coach Bob Roitblat and a lineup of sessions led by other notable risk management leaders. Visit www.RIMS.org for updates.

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 via LinkedInTwitter, and Facebook. To learn more, visit www.RIMS.org.

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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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