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RIMS

Risk Manager of the Year Award Guidelines

The Risk Manager of the Year Award® and Risk Management Honor Roll® are presented by RIMS, the risk management society.

Submit a Nomination

Purpose

The Risk Manager of the Year Award® was created in 1977 to increase recognition of the risk management profession and to recognize outstanding performance in the practice of risk management. The first award was presented in 1978. The Risk Management Honor Roll Awards were introduced in 1983 to recognize other exceptional risk managers.

Eligibility

Anyone involved in risk management for a corporation, financial institution, not-for-profit institution or government entity can be nominated. The person need not practice risk management full time, but the candidate must be a full-time employee of the organization for which he or she practices risk management. Administrators and executive directors of self-insurance funds or self-insurance pools that deliver risk management services to members are eligible for nomination. The candidate may be nominated by anyone familiar with his or her work, such as a superior, the risk management staff, a colleague with another company or a broker, insurer or other service supplier. Individuals named to the Risk Management Honor Roll® are eligible to be re-nominated for the Risk Manager of the Year Award® five years after being named to the Honor Roll.

Judging Panel

The Nomination Form Part I will be reviewed by a panel of former Risk Managers of the Year® and Risk Management Honor Roll® members. The Nomination Form Part II will be judged by professionals representing all aspects of risk management and the commercial insurance industry. The panel includes the most recent winners of the Risk Manager of the Year Award® and persons named to the Risk Management Honor Roll®, the current president of RIMS, and senior executives from the insurance sector.

Nominations, Part II

Please note that candidates selected for Part II of the nomination process will be asked to provide a more detailed nomination form, as well as a letter of endorsement of the candidate by an executive of his or her corporation or organization, who can be the candidate’s superior or any higher officer. The letter must certify the accuracy of the information submitted in the nomination.

Awards
After Part I nominations are screened, each candidate who is selected for further nomination information completes the Part II nomination, which is scored by the judges on ten criteria (see below). The candidate with the highest aggregate score will be named Risk Manager of the Year®. The Risk Management Honor Roll® will comprise the next highest scoring candidates.
 

Judging Criteria

Criterion 1: Established and implements an effective risk management program within the organization.

Criterion 2: Tackled and solved one or more major problem for his or her organization.

Criterion 3: Innovatively applies diverse tools and strategies of risk management, such as Enterprise Risk Management, Strategic Risk Management, risk financing, or insurance, etc.

Criterion 4: Creatively and effectively uses risk financing/insurance to structure a risk financing and risk transfer program that serves the needs of the organization.

Criterion 5: Established a workable intelligence system inside and outside the organization that culminates in a flow of information about events and activities that affect the organization’s risk management and exposures.

Criterion 6: Skillfully performs the functions of management in the overall organization and within the risk management/insurance department.

Criterion 7: Achieves the most effective program at the optimum cost over the long term.

Criterion 8: Developed a technical expertise in any or all of the broad categories included within risk management, leading to a better managerial grasp of the operations aspects of the job.

Criterion 9: Exhibits an attitude and performs activities fostering the advancement of the risk management profession. 

Criterion 10: Is developing his or her career, as exhibited by job history, education, honors and memberships.

 
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