RIMS: 250 Percent Increase in Practitioners Proactively Assessing Risk Program Maturity
NEW YORK (October 26, 2015)
— At RIMS ERM Conference 2015
in Chicago, the Society announced the release of two Executive Reports State of ERM Report 2015
and About the RIMS Risk Maturity Model
. The reports, both authored by RIMS Director of Strategic & Enterprise Risk Management Practice Carol Fox and LogicManager’s CEO and founder Steven Minsky, are aimed at helping risk professionals assess their current programs and achieve greater success implementing cross-functional risk management strategies.
“Adopting ERM is a commitment,” said RIMS President Rick Roberts. “The initial implementation process is only the beginning. Risk professionals must continue to work to advance their risk programs, to maintain support from leadership and keep operations managers engaged. RIMS Risk Maturity Model
and reports like the State of ERM Report 2015 give practitioners the knowledge to make informed decisions and allocate resources appropriately to build a more mature program.”
RIMS EXECUTIVE REPORT: STATE OF ERM REPORT 2015
Back in 2008, RIMS published its last State of ERM Report and a lot has changed since. This Executive Report compares statistics gleaned over of the course of the seven-year period from RIMS Risk Maturity Model (RMM)
. Noting that the number of organizations who have used RMM has increased by 250% since the last report, this edition discusses today’s organizations willingness to invest in ERM, the reasons supporting this trend, areas where organizations have had success advancing their programs, as well as those that need improvement.
RIMS EXECUTIVE REPORT: ABOUT RIMS RISK MATURITY MODEL
Given the evidential connection between the effectiveness found in more mature ERM programs and firm value, many board members and senior-level officers responsible for risk management oversight have turned to the RIMS Risk Maturity Model to gauge their organization’s existing program. This report provides background about the RMM and explores the attributes and competencies drivers that define a “well-managed” ERM program.
The State of ERM Report 2015 and About RIMS Risk Maturity Model are available in the Society’s Risk Knowledge library at www.RIMS.org/RiskKnowledge.