Getting on the Same Page
Mon, Nov 09, 2015 -
One of the very first things we teach in introductory risk management courses is that for risk management to succeed, everyone must be on the “same page.” Everyone’s definition of risk, risk appetite, risk tolerance, enterprise risk management, strategic risk management and, even, the definition of the risk manager’s expectations must be understood by all.
Through reports, conferences and other educational initiatives, we aim to provide risk professionals with resources to go back to their organizations and “get everyone on the same page,” and many of our new resources available within the last month were designed just for that.
In October, ASIS International and RIMS jointly released the new ANSI/ASIS/RIMS Risk Assessment Standard. This Standard provides the world’s risk management community with guidance on developing and sustaining a coherent and effective risk assessment program. The Standard, which is now available in RIMS Risk Knowledge, offers international businesses a roadmap for implementing sound risk management processes.
At the FERMA conference in Venice, Italy, I joined a panel to discuss the evolution of risk management and how we, as risk professionals, strive to have our work incorporated into strategic planning. It’s interesting to hear that risk professionals, no matter where they’re located, often are confronted with the same challenges. Events like this reinforce the importance for RIMS’ continued collaboration with risk management associations around the world to truly advance our profession.
When speaking about RIMS’ international initiatives I would be remiss if I did not mention the tremendous work being done behind the scenes to host our very first RIMS Risk Forum Latin America and RIMS Risk Forum Middle East. For the Latin American conference – taking place this week – we released the RIMS│Marsh Risk Management in Latin America report (English Executive Summary). The report provides risk professionals with an overview of the risk management landscape in the region, as well as the top concerns for businesses there. The report is now available in both English and Spanish.
Enterprise Risk Management continues to gain momentum and has been proven to be effective in getting everyone within the organization “on the same page” when it comes to understanding risk. This year’s RIMS ERM Conference was our largest ERM conference yet. Almost 400 risk professionals met in Chicago to discuss the value of this contemporary approach to risk management. Congratulations are in order for everyone involved and, especially for this year’s ERM Award of Distinction winner Intuit, and honorable mention VIA Rail Canada.
RIMS and LogicManager celebrated 10-years of the RIMS Risk Maturity Model. The Model allows risk practitioners to score their current risk programs to gauge its effectiveness, its strengths and weaknesses. To help understand the benefits of this resource, a new executive report titled About The RIMS Risk Maturity Model was developed. Also at the conference, the Society released its State of ERM Report 2015 highlighting organizations’ perspective of risk management while showing the progress businesses have made implementing ERM since the last report in 2008.
In addition to keeping up to speed on risk management strategies, practitioners need to have an understanding of regulations that impact the discipline. RIMS External Affairs Committee remains our main conduit for this information and, earlier in October, released the Alternatives to Traditional Workers Compensation Systems executive report. The report explores the benefits and drawbacks of recent developments implemented by some states, including the option for organizations not to participate in the program.
In other Society news, the Board met in Chicago last month and approved the 2016 RIMS operating budget. We also approved a model for Chapter by-laws that reflects the updates to the Society’s by-laws, and Chapters can implement these as they see fit. And, in case you haven’t heard, Awards Nominations are now open for RIMS ’16. Now’s the time to nominate your peers for their risk management and volunteer achievements so they can be recognized at RIMS ’16 in San Diego.
Thank you for all that you do for RIMS and we look forward to sharing even more in the upcoming months so that you’re well-equipped to get your organization on the right page.
RIMS 2015 President
Do You Have A Second?
Fri, Oct 02, 2015 -
You’re not alone. Everyone is pressed for time.
Throughout the years, RIMS has developed a great reputation for providing risk professionals with the knowledge, the experts, the best practices and the network to allow them to excel professionally. But, it’s always been up to the member to decide what he or she is looking for and tailor their RIMS experience accordingly.
But, who has time for that anymore? So, RIMS has gone a step further. We realized that not only is it our job to develop content but we also needed a better way to deliver relevant information to you.
This September, the Society proudly unveiled Opis “The RIMS Information Network.” We’re one of the first trade associations to implement this new online platform. Opis has the smarts to recommend risk management content and connect you with like-minded practitioners based on your user profile.
For example, if you added Enterprise Risk Management as one of your areas of interest, Opis would recommend surveys and reports relevant to that topic, as well as connect you with others within the RIMS network who share ERM as a core competency. Opis does the work for you. We encourage members to update their profiles today and take advantage of this great new resource.
With limited time, traveling to offsite workshops can be difficult. Over the next two months, RIMS will feature four new webcasts that you can watch from your office. These online learning opportunities touch on topics like ERM, SRM, business continuity, cyber security and travel risks. More details about the programs are listed under the Education tab on the RIMS website.
Though time might be scarce, nothing quite compares to in-person networking opportunities and there have been several noteworthy updates to our lineup of upcoming conferences.
RIMS ERM Conference will be here before you know it. The conference, scheduled for October 26 and 27 in Chicago, has just announced that Tom Easthope, Senior Risk Manager at Microsoft, has been added to the program. Mr. Easthope’s participation will be a welcome addition to the conference’s already stellar lineup of risk practitioners.
Agendas for both RIMS Risk Forum Latin America (November 9 and 10 in Peru) and RIMS Risk Forum Middle East (December 7 – 8 in Dubai) have been added to the website. Information about all of RIMS upcoming Forums and regional conferences can be found here.
Networking and collaborating with others is so important to what we do and it is no surprise that it remains a highly rated member benefit. We’re lucky that, at RIMS, so many of our members are willing to share their experiences, to help others and enhance the discipline.
To that end, RIMS Strategic and Enterprise Risk Center has been updated with five new Success Tips: Q&A Interviews. The interviews feature leading risk professionals who are doing some amazing work with their organizations’ Enterprise Risk Management programs. Interviews include conversations with practitioners from Harley-Davidson, YMCA of Greater Toronto, The Pan American Games, Blue Cross and Blue Shield of Florida, Inc., Whirlpool Corp. among others. If you haven’t already, I highly recommend checking them out.
Finally, I would be remiss if I didn’t thank RIMS Canada Council for hosting me at the RIMS Canada Conference in Québec City and congratulate the Spencer Educational Foundation for another successful gala that raised a record-breaking $1.14 million to support the next generation of risk professionals.
These are very exciting times for the Society and our profession. I strongly believe RIMS has introduced some great resources to help risk professionals tackle the complex risks our organizations are now facing, to better understand the challenges of the global marketplace, to become valued strategic advisors in our organizations and, perhaps, save us all a little time along the way.
RIMS 2015 President
Thu, Aug 20, 2015 -
Maybe it’s the weather or maybe it’s those summer vacation plans but, for many, this time of year our focus might not be at its sharpest. RIMS productivity in the last month and the resources we continue to deliver are meant to energize the global risk management community, driving all of us to stay focused on our organizational and professional goals.
August featured several initiatives that supported one of my Presidential objectives: strengthening RIMS’ international network.
Just this week, I was in Melbourne for the Society’s third annual Risk Forum Australasia. The Melbourne event was a huge success. We hosted almost 150 attendees and, from the conversations I had, attendees walked away thrilled with the level of content. As we do with all of our events and resources, we’re already looking at exciting new ways to make this Forum bigger and better next year.
Noting the success of our Forums in the Australasia region, we’ve decided to share the wealth with the flourishing risk management community in Latin America. We’re pleased to announce that registration is now open for RIMS Risk Forum Latin America scheduled for November 9th and 10th in Lima, Peru. An agenda is already up on the website and we’re looking forward to announcing the speakers in the near future. Details about RIMS Risk Forum Middle East are coming soon.
I know from my 25 years as a RIMS member that connections made at our conferences are so important. In my career, they have been so instrumental in helping me approach new challenges and opportunities. But, things have changed since my start with RIMS. Now, just as important as those in-person interactions are, the ones we build online are equally as valuable.
In September, RIMS will unveil Opis the RIMS Information Network. With Opis, RIMS will now be able to recommend customized content and connections based upon your skillset, your level of expertise and your areas of interest. RIMS will essentially do the work for you. Already 700 early adopters were invited to begin their Opis journey, subject matter experts have begun creating engagement spaces and we’ve already uploaded content from Risk Knowledge. As far as I know, we are the only risk management society in the world to use this innovative member platform and we are confident you will see its immediate advantages.
Planning is well underway for RIMS 2016 Annual Conference & Exhibition. Earlier this month, our Annual Conference Programming Committee met to select educational sessions for RIMS ’16 in San Diego. Over the course of a weekend, the Committee whittled the almost 900 session submissions down to 181 that focused on the most compelling and relevant risk management topics. News about keynote speakers should be available soon and we will definitely keep you up-to-date with latest developments about the conference. Registration opens in December.
Finally, to ensure that we are doing our part to engage risk professionals around the globe we have taken steps to review and enhance existing RIMS resources. Strategic Risk Management remains a hot topic for our members and, with this in mind, we wanted to make RIMS Strategic Risk Management Implementation Guide more accessible for everyone. So, now one of RIMS’ best-selling resources is available digitally in the RIMStore, and I’m sure that more opportunities like this will follow soon.
Focused, determined and ready. No matter the weather outside or the time of year, RIMS remains committed to providing you with the tools and support you need to achieve your risk management objectives.
RIMS 2015 President
Summer of Surveys
Mon, Jul 27, 2015 -
What will this Society look like in 5, 10 or 15 years? What will the risk management profession be like then? How will the insurance process and solution providers evolve? These are the questions that RIMS and its 2020 Task Force constantly explore so that we can help prepare our members for whatever may lie ahead.
Key to that pursuit of industry knowledge is taking the pulse of our members to determine what their needs are today and what they’ll be tomorrow. This summer, RIMS will issue three surveys to do just that and will release results from another by the end of July.
Building on the success of the inaugural 2014 RIMS and J.D. Power Large Business Commercial Insurance Study, this year we are hoping to have enough completed surveys to publish company and broker rankings. This new element to the report is something our members asked for, and it is obvious the value it will offer risk professionals as they make critical decisions for their organizations. We are accepting surveys (participate here) through the first week of August and the final report will be available in the fall.
Last week, we issued RIMS Risk Management Job Task Analysis survey. A learning endeavor initiated by the RIMS Board, the goal of this survey is to get a better understanding of our member’s perspective on what it means to be a risk professional, essential skills and common responsibilities. We encourage all of our professional members to take the survey (participate here) and help us better serve you.
It’s not called the “Summer of Surveys” for nothing. In just a couple of weeks, we will reach out to members, asking them to participate in the RIMS Compensation Survey. The name can be deceiving as it’s more than just a list of salaries. Members, myself included, have found the survey report to be extremely helpful in budgeting for future risk management initiatives, and also assessing their own professional growth. This year’s survey report is slated to be released in early fall.
The results are in and the 2015 RIMS Benchmark Survey is now available. The annual RIMS survey, produced with Advisen Ltd, is a single source of benchmark statistics with industry data for more than 52,000 insurance programs from almost 1,500 organizations. To order “The Book” visit www.rims.org/book.
There is more going on at RIMS than just surveys and research.
At RIMS ’15 in New Orleans, we mentioned plans to launch a new member engagement platform. Well, those plans are underway. Opis the RIMS Information Network is in its final testing period. The platform, designed to connect members with content and people relevant to their specific risk management focus, is now being used by a group of “early adopters” and will be ready for the general membership this September. To learn more, visit www.RIMS.org/opis.
RIMS’ much anticipated ERM Conference – scheduled for October 26 and 27 in Chicago – is fast approaching. We are excited to welcome author and award-winning professor Witold J. Henisz as our keynoter who will address the advantages ERM lends to risk professionals who are faced with the daunting task of protecting, enhancing and leveraging corporate reputation. Whether you’re responsible for a mature ERM program or if you’re just contemplating the idea of implementing one, the conference agenda is designed to cater to professionals at all levels of experience.
This month RIMS released a new executive report: Risk Management & Remote Work Policies. Based on interviews with RIMS Board Directors, the report highlights the advantages, challenges and the role risk professionals can take in helping their organization develop a comprehensive remote work policy. The executive report is now available in RIMS Risk Knowledge library.
Finally, I would like to congratulate the RIMS Publications team for their outstanding work putting together RIMS Risk Management magazine. On top of delivering exceptional content each month, the magazine was presented four awards recognizing its superior graphic design. Kudos to everyone involved.
Our journey to identify the future needs of risk professionals is far from over, but RIMS continues to make significant strides that differentiate us from any other association in the industry. As we focus on the future of the profession, RIMS is proud to be able to provide you with industry-leading resources, knowledge and networking opportunities along the way.
RIMS 2015 President
Turning Up the Volume
Wed, Jun 17, 2015 -
The value of strong risk management capabilities is no longer a mystery. As the world’s leading association dedicated to this essential business function, it is RIMS’ job to amplify this message and keep the momentum going through advocacy efforts, new conferences and valuable resources.
To ensure risk professionals’ voices are heard on legislative issues, last week, the Society held RIMS Legislative Summit in Washington, D.C. The two-day Summit brought RIMS’ members and congressional leaders face-to-face to discuss key risk management issues including the Policyholder Act and the Data Security and Breach Notification Act.
The Summit featured presentations from Christian Fjeld, Sr. Counsel for Senate Subcommittee on Consumer Protection, Product Safety, and Insurance; Paul Nagle, Chief Counsel for House Subcommittee on Commerce, Manufacturing, and Trade; and Patrick Satalin, Legislative Director for Rep. Peter Welch (D-VT). Approximately 55 meetings were set up for attendees with elected-officials and their representatives.
Keeping with our theme of strengthening our international network, RIMS is proud to announce its first-ever event in South America – RIMS Risk Forum Latin America. In Lima, Peru on November 8 and 9, RIMS will share its thought-leading insight with the area’s flourishing risk management community. The agenda is currently in the development stage and registration is scheduled to open in August.
The Society also opened registration for two more conferences:
RIMS Risk Forum Australasia is set for August 17 – 18. Once again in Melbourne, the speaker lineup at this year’s conference includes a sampling of risk professionals from around the world including: Australia, the United States, the United Kingdom, Singapore and China. Each speaker is poised to bring their unique global perspective to the program, making this year’s Risk Forum Australasia a “can’t miss” event.
Just this week, RIMS opened registration for RIMS ERM Conference 2015, October 26-27 in Chicago. Year-after-year, RIMS ERM Conference continues grow. For the first time, this year’s conference will feature the ERM Leaders Recognition Luncheon. There, we will celebrate and hear from exceptional organizations that have successfully implemented ERM programs.
Also this month, RIMS released findings from its first Cyber Survey. The survey included feedback from nearly 300 risk professionals and explores cyber insurance investments, feared exposures, cyber security ownership, government involvement, as well as methods for identifying cyber exposures and response strategies. The report is now available in RIMS Risk Knowledge library.
Finally, in our mission to strengthen RIMS’ internal network, the Society unveiled its new Online Join application. This new feature on the RIMS website creates a more efficient and sophisticated interface for online visitors. We’ve also revised the registration questions to make that process quicker and easier for the end user. The new application makes it easier for RIMS to collect and sort demographic data – essentially allowing us to send you targeted communications on the topics you find most important.
As our regional conference season kicks off, not only do we look forward to bringing you more resources, but we are also excited to learn from your experience and gain an even better understanding of your professional needs. Thank you again for your continued support.
RIMS 2015 President
Mon, May 11, 2015 -
The risk professional’s day-to-day responsibilities, as well as their impact on their organization’s strategy, continues to increase and each of our “to do” lists have gotten just a bit longer. That’s great news for our profession. Our work is gaining recognition from the top leaders in our organizations and the future is bright for risk management.
But, sometimes it’s good to take a break from what we’re so focused on within our organizations, to assess our risk management practices, the direction of our organization and think about ways to improve our work and ourselves. RIMS Annual Conference & Exhibition provides just that escape and I hope our more than 10,000 attendees from more than 60 countries gained the same inspiration as I did from last week’s conference in New Orleans.
Our three keynoters – Eric Wahl, Simon Bailey and Arianna Huffington – spoke to our global audience about the value of rethinking the way we approach our work, the way we harness our ideas to become “brilliant” leaders and, most importantly, to be mindful of our own personal well-being so that we can achieve maximum performance in the workplace. RIMS ’15’s 160 educational sessions covered everything from the risks of drones to the art of negotiations. And, its 400 exhibitors proved that this industry is indeed growing fast, and that this Society continues to be the leader centered on strengthening the networks of the risk management community.
At RIMS ’15, two RIMS Executive reports entitled “Is a Mature Enterprise Risk Management Effort Worth the Investment?” and “Testing Value Creation Through Enterprise Risk Management Maturity” were released. The reports resulted from RIMS’ and LogicManager’s strategic relationship with Mark Farrell of Queens University Management School and Dr. Ronan Gallagher of the University of Edinburgh Business School. They are based on an independent academic research project studying correlations between business value and the maturity of the respective organizations’ ERM programs, as assessed using the RIMS Risk Maturity Model (RMM). If you haven’t completed your free assessment, visit www.rims.org/resources/ERM to learn more.
While we’re on the topic of the RMM, it is important to note that just prior to the Annual Conference the complimentary resource was adopted by the NAIC in yet another attempt to formalize how organizations achieve risk management competency. The NAIC specifically identifies the RMM as “an effective tool for evaluating the state of an organizations program,” and indicates that “insurers should strive to meet a 'repeatable' level of Enterprise Risk Management maturity in each principle to comply with the Own Risk and Solvency Assessment requirements.”
More resources were made available to RIMS members, especially for those conducting business in international markets or that are in the process of evaluating global expansion projects. AXCO Insight Risk Manager is now available complimentary for RIMS professional members. With an understanding of the challenges risk professionals may encounter when entering new geographic markets, this resource provides our members with critical information about insurance requirements and other regulations to note when expanding internationally.
RIMS continues its outreach to other standards development organizations and others influencing the risk management profession. Both the International Organization of Standardization (ISO) and the Committee of Sponsoring Organizations (COSO) are in the middle of revising their respective risk management documents. RIMS Carol Fox, our Director of Strategic and Enterprise Practice was recently appointed to a three-year term as Chair of the U.S. Technical Advisory Group by the American Society of Safety Engineers (ASSE), the U.S. Secretariat for ISO 31000 risk management standards for the American National Standards Institute (ANSI). She was also invited by COSO to participate in its Advisory Council on the COSO ERM Framework revision. Our members’ voice is definitely being heard in these conversations and RIMS’ engagement will benefit risk professionals everywhere.
Finally, I would like to thank everyone who helped make our world renowned-Annual Conference & Exhibition an overwhelming success. From RIMS staff and exhibitors to attendees and speakers, thank you so much for your contributions to RIMS and for making my experience as the Society’s president during RIMS ’15 truly unforgettable.
If you couldn’t join us in NOLA or wish to relive your experience, visit www.RIMS.org/RIMS15 for all of our post-conference coverage.
RIMS 2015 President
Let the Countdown Begin
Tue, Apr 07, 2015 -
Less than 20 days until RIMS ’15 and I couldn’t be more excited. To say “Let the Count Down Begin” is not completely accurate. Truth is that planning for RIMS Annual Conference begins years and years before the actual event. Right now is crunch time but I’m confident the staff at RIMS is ready to deliver to you yet another amazing experience in New Orleans.
There are some new features at this year’s conference that I’m really looking forward to:
As the number of international attendees who join us for the Annual Conference continues to increase, we felt a need to provide them with a designated meeting space to exchange ideas and connect with other risk professionals who have travelled from afar. RIMS International Lounge will offer just this. In addition to a networking area, the lounge will feature a tailored education track designed specifically for our international attendees.
Throughout the first months of my presidency, I’ve stressed the importance of creating opportunities for new risk professionals – whether they’re students just graduating or individuals who have transitioned into the profession.
To support this goal, we will present the first-ever RIMS Rising Star Award. With so many universities now offering curriculums to prepare students for careers in risk management, future leaders are stepping into this field and delivering superior risk management perspective right away. This award recognizes these outstanding practitioners.
Because of the great success and great interest in RIMS and J.D. Power 2014 Large Commercial Insurance Report, the Society will be teaming up with JD Power for another year. J.D. Power representatives will be at the conference, surveying the crowd, to get your thoughts on commercial insurers.
While New Orleans nightlife has a lot to offer attendees, we encourage them to rest up on Monday night and participate in the Spencer Educational Foundation’s 5K Fun Run, sponsored by Sedgwick. The run will take place first thing in the morning on Tuesday and will benefit the nonprofit’s scholarship, grant and intern programs.
To keep up with others news and announcements about the conference you can follow us on Twitter and Instagram at @RIMSorg and follow the hashtag #RIMS2015. Also, while in New Orleans, look for our “Selfie Spots.” There are prizes for the best photos.
RIMS is also making great progress on not only strengthening its internal structure but enhancing it so that we are able to quickly adapt to risk management trends and member needs. A Bylaws Task Force was formed that comprises board directors, past presidents, a chapter delegate and RIMS staff. Together, the group presented revised Bylaws to all Chapter Officers who will vote on them following this year’s House of Delegates meeting in New Orleans. If you are a Chapter Officer and have not received communication about the revised Bylwas contact firstname.lastname@example.org.
RIMS External Affairs Committee continues its work to ensure that TRIA is implemented in a way that best serves commercial insurance buyers and their organizations. In March, RIMS submitted a comment letter with recommendations for expediting the process for certifying acts of terror. RIMS will continue to monitor the implementation of TRIA and offer its support to the United States Department of the Treasury.
Finally, just last week I returned from Japan where I met with members of RIMS Japan Chapter. In both Osaka and Tokyo, I delivered remarks on the value risk professionals and internal auditors can deliver to the organization by working together. While I was there in a capacity to share risk management knowledge, I learned a whole lot myself. Whether their risk practices and programs were familiar, or whether they approached risk in a completely different way, it’s always fascinating to hear the perspective from professionals in other parts of the world and in other industries.
In my opinion, it is that perspective that makes attending RIMS Annual Conference & Exhibition so important. Nowhere else in the world will you have access to so much risk management education opportunities, resources and people.
We look forward to welcoming you to New Orleans and doing our part to help you strengthen your network.
RIMS 2015 President
Turning Up The Heat...
Thu, Feb 26, 2015 -
It always seems that at this time of year RIMS President wishes warmer weather, and less snow, for our members in the Northeast. But, as a Connecticut resident myself, it just doesn’t seem right. The winter has been especially tough this year, making it very difficult for many businesses to carry-on as usual. That said, RIMS always seems to persevere. The Society is right on schedule for RIMS ‘15 and I’m witnessing this massive undertaking happen first-hand.
The latest announcement from RIMS 2015 Annual Conference & Exhibition is our “Hot Topic Sessions.” There are so many areas of risk management that require the immediate attention of risk professionals. As a result, RIMS has selected eight hot topics that include discussions about drones, 3-D printing, geopolitical issues, e-healthcare, remote surveillance and, of course, social media challenges.
We’re also happy to announce that we’ll be able to share the outstanding educational programming and networking opportunities at RIMS ’15 with 30 future risk management leaders. Thirty undergraduate students from universities across the U.S. were awarded this year’s Anita Benedetti Student Involvement Program Scholarship. The scholarship provides them with the opportunity to attend and take advantage of all that RIMS ’15 has to offer.
Other news on the Rising Risk Professional front is that 20 universities were selected to participate in the first round of the Spencer-RIMS Risk Management Challenge. The teams’ presentations are currently being judged and eight of the 20 will be chosen to compete at RIMS ’15.
The team at RIMS responsible for professional development opportunities has also been hard at work. This year, at the request of our members, two new online courses that address some critical areas of risk management were launched. The first, Risk Analysis Forecasting Tools reviews best-practices for quantifying risk so that risk professionals can make more informed decisions.
The second new course, Designing an Enterprise Risk Management Framework, explores the fundamental steps in implementing an organization’s ERM strategy. Also, RIMS and SambaSafety are presenting a webcast on driver safety and driver risk management in April. Details about the courses and how to register are now listed in the “Education” section of the RIMS website.
RIMS also released a new Executive Report this month: “Exploring the Risk Committee Advantage.” 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. It also highlights the value of developing a strong operational risk committee, while reviewing regulations and potential challenges. The report is now available in the RIMS Risk Knowledge library.
As you can imagine, things at RIMS really heat up in the months leading up to RIMS ’15. While a lot of focus will be placed on delivering the world’s biggest and best risk management conference, RIMS remains committed to offering our members the day-to-day support and knowledge they need to sustain and advance their risk management programs.
RIMS 2015 President
Strengthening Our Networks
Tue, Jan 20, 2015 -
Back in December, I grabbed a leftover copy of the RIMS Annual Conference guide that lists all of RIMS’ past presidents just to figure out how many presidents were before me. I found what I was looking for – I’m number 61. But, as I scrolled down the list and read the names, I realized that I am joining a very accomplished, almost legendary, group of risk management leaders.
It is an absolute honor to join this group and serve as the president of the greatest risk management association in the world. I also realize that this prestigious title comes with great responsibility. I am looking forward to the year ahead and helping this Society remain at the forefront.
When news arrived that I had been nominated, my first thoughts were: How can RIMS better prepare our members for the uncertainties that lie ahead? What can RIMS offer risk professionals to help them navigate the increasingly complex and quickly evolving risks our organizations now face?
As president, I will focus on strengthening, what I believe to be, RIMS’ and risk professionals’ greatest asset: our networks.
Our International Network – RIMS is a global Society. Our members hail from countries around the world. For most entities, the risk of not thinking like a global enterprise can be detrimental to its future success. In 2015, RIMS will continue to review opportunities to reach new international audiences including enhancing our professional development offerings, participating in worldwide industry events, developing resources that address risk management strategies for global expansion, and, perhaps, adding to this Society’s lineup of international events.
Our Rising Risk Professional Network – Business and the risks our organizations are facing are evolving fast. We will need to lean on the fresh and innovative perspectives of both our current network and the next generation of professionals. This Society has a responsibility to assess the resources and opportunities we offer to those entering the profession, as well as students, so that we can develop products that align with their level of experience.
RIMS’ Internal Network – We must remain relevant and continue to deliver thought-leading content. Our infrastructure must be strong and nimble so that we can make strategic decisions for our members, faster. This year, we will focus on the Society’s governance and structure, reviewing the processes of our Board of Directors, House of Delegates, Committees, Councils and Chapter networks. The first year of RIMS 2020 Task Force was very successful and we look forward to continuing with this initiative in the upcoming year.
We’re already off to a great start with the inaugural RIMS Leadership Forum just concluding. The RIMS BOD, senior staffers and current committee leaders got together to collaborate and strategize for the year ahead. It was a super productive experience and we’re eager to share the results. The Board really appreciates the outstanding input received from our committee and council leaders and that they took the time out their busy schedules to attend.
The risk management industry as a whole benefits from RIMS’ expansive network of risk professionals, solutions providers, its dedicated and committed volunteers and staff.
My priority is to ensure that RIMS continues to deliver the resources that have made it successful for the last 65 years and build on them so that the Society is well-positioned to remain the preeminent organization dedicated to advancing the practice of risk management.
Looking forward to an amazing 2015.
Rick Roberts Named 2015 President of RIMS
Mon, Jan 05, 2015 -
risk management society™, today announced that Rick Roberts, RF, ALCM, ARM,
ARME, CPCU will
lead the Society as president for the 2015 term, effective January 1.
is the Director of Risk Management and Employee Benefits for Ensign-Bickford
Industries, Inc. He has been a member of RIMS for 25 years and on its Board of
Directors for seven years. Previously, Mr. Roberts served as the Society’s
Vice President and Board liaison to RIMS External Affairs Committee. He is a member of RIMS Connecticut Valley
Chapter where he served as the chapter’s president from 1997 to 1998.
days as a risk professional are ever the same,” said Mr. Roberts. “Current
events, new technologies and global initiatives continue to keep risk
professionals searching for the latest industry information and best practices.
greatest asset is its members, an engaged and generous network of professionals
who willingly share their experiences to help colleagues better prepare their
organizations for the unknown. With a focus on the Society’s long-term
strategy, we will continue to strengthen our networks, enhancing our ability to
deliver thought-leading content to the global risk management community.”
on RIMS 2015 Board of Directors:
- President: Richard
J. Roberts, Jr., RF, ALCM, ARM, ARME, CPCU;
Director of Risk Management and Employee Benefits,
Ensign-Bickford Industries, Inc.;
- Vice President: Julie
C. Pemberton, ARM; Director, Enterprise Risk and Insurance Management, Outerwall
- Treasurer: Robert
Cartwright, Jr., CRM; Safety and Health Manager, Bridgestone
Retail Operations, LLC;
Secretary: Jennifer Santiago, ARM; Director of
Insurance, Novartis Corporation.
- Robert Zhang, China
Risk and Compliance Manager, IKEA (China) Investment Co., Ltd.
- Gordon Adams; Chief Risk Officer, Tri-Marine International, Inc.;
- Gloria Brosius;
Director, Risk Management and Insurance Programs, Farm Credit Council
- Al Gorski; Chief
Risk Officer, Orange County Transportation Authority;
- Leslie Lamb; Director,
Global Risk Management, Cisco Systems, Inc.;
- Steve Pottle;
Director, Risk Management Services, York University;
- Frederick J.
Savage, FCII, ARM; Director, Risk
Management (San Ramon), Chevron Corporation;
- Lori Seidenberg, RF,
ARM; Senior Vice President, Insurance/Risk Management, Hunt Companies;
- Carolyn M. Snow,
CPCU; Director, Risk Management, Humana Inc. (Ex-Officio);
- Janet Stein, Director,
Risk Management & Insurance, University of Calgary.
Here's to RIMS' Future...
Thu, Dec 18, 2014 -
It has been a pleasure and an absolute honor to have served as RIMS President for 2014. While representing RIMS I met so many talented and amazing risk professionals, and I continue to be impressed with the great risk management ideas and programs that you have designed.
In January I helped the Greater Miami Chapter celebrate their 20th anniversary and appropriately ended 2014 with my own chapter, Kentuckiana Bluegrass, which announced a new slate of officers and new energy this year.
This year, I represented RIMS in Japan, Australia, Singapore, Bermuda, Vermont, Denver, Winnipeg, Rio de Janiero and Washington DC. While our businesses and geographic locations may be very different, we share similar concerns and risk management goals. Some are beginning with the basics and others are so advanced that we can only marvel at the concepts, but there is an overwhelming willingness to share what we know with our peers.
One of our noteworthy successes this year was establishing our long range plan “RIMS 2020,” providing a platform for the organization to move forward. Much of the work this year centered on governance changes, reduction in board size and updating our bylaws to be a more nimble society. The board plans to consider proposed bylaw changes at our January 2015 meeting, and will share any decisions or updates with the House of Delegates (HOD) prior to requesting a vote at our annual meeting in April. Thanks to the committee composed of representatives from the HOD, Former Presidents, Nominating Committee, Board Members and the work of RIMS General Counsel Mark Prysock who led the initiatives.
The biggest disappointment this year was the failure of Congress to reauthorize the extension of TRIA. Unfortunately, politics once again got in the way of progress. Despite the best efforts of the RIMS members, External Affairs Committee, Congressional testimony, RIMS staff and support from our business partners, our members were let down by their Congressional representatives. RIMS will continue the efforts into 2015 and has every intention of making the reauthorization of TRIA a top priority.
I am very appreciative for the support of our members, the Board and the RIMS staff this past year. Mary and her team are dedicated professionals who work mainly behind the scenes to promote the Society. In addition, the support from Humana and particularly our Risk Management team allowed me the time to travel and represent RIMS.
RIMS is in great shape as an organization and, as the Board continues to move from operational to focus more on strategy, there are many opportunities for us to remain the world’s leading risk management organization. It is an exciting time to be a member of RIMS and the 2015 Board under our new president’s leadership will continue to be successful.
2015 will be an awesome year.
Keep on Moving...
Mon, Dec 01, 2014 -
RIMS ERM Conference was a huge success. It had it all. Excellent program, presenters and certainly there is no matching the value you gain from networking with other risk professionals – especially those who are fully vested in advancing the profession. For those of you who joined us in Miami, the presentations are now available on the conference site.Gauging the maturity of an ERM program was one of the key discussions during the Conference and this is a great time to remind you about RIMS Risk Maturity Model (RMM) – a free online program that helps risk professionals do just that. To fully understand the advantage of using this assessment tool, RMM’s co-developer Steven Minsky, the CEO of LogicManager, Inc., has written a series of blog posts for RISK MANAGEMENT MONITOR that are now featured in the Popular Content section on the front of the RIMS website. RIMS Board of Directors also met in Miami to review and approve the Society’s 2015 operating budget and to continue to set plans for 2015. Next year’s board size will reflect the bylaw amendment approved by the HOD and will be smaller than in prior years. Final approval of the slate is due by December 20 so if you are a delegate and have not voted please send in your chapter’s vote. On December 10th, be on the lookout for results from the inaugural J.D. Power 2014 Large Business Commercial Insurance Satisfaction Study.SM This study will give both buyers and sellers of insurance a new perspective on this competitive market and meets one of the Society’s goal of delivering knowledge and resources to our members.Recently, RIMS hosted a roundtable discussion, sponsored by Zurich, titled “Using Big Data to Improve Risk Management.” Our Risk Management magazine reported on the discussion that addressed “how companies can use big data to help gain a comprehensive, 360-degree view of total cost of risk and…optimize the return on their mitigation investment.” Finally, I spent this Thanksgiving Holiday in Brazil as a speaker at XI Congress of the Fundacion Latinoamericana de Adminstration de Riesgos ALARYS. There, Mary Roth and I delivered two presentations: one on linking ERM to strategy and the other focusing on industry trends. And, almost immediately following that conference, I will fly to Singapore to speak at The Asian Risk Management Conference.With each of these trips and with each of the reports, RIMS continues to strengthen its global network, enhancing its resources for our members and demonstrating our value to potential members. We look forward to providing you with more in the months ahead but, in the meantime, I wish you all the best during this holiday season.Sincerely,Carolyn Snow
More Resources, More Value
Wed, Oct 22, 2014 -
to over 1,100 of you who responded to the annual Membership Survey, as your
voice is important to the development of educational programming, conferences
and executive reports and other risk management tools that RIMS delivers. The survey is our best tool in getting
feedback from over 11,000 members.
October we released two new Executive Reports: “Claims
Reporting & Management Practices” and “Managing
Reputational Risk to Drive Strategic Performance.”
Claims Reporting & Management Practices” report was authored by members of
Standards and Practices Council and explores the characteristics of a
successful claims reporting and management program. I think members will really
benefit from its step-by-step guide to implementing a claims program, as well
as its tips for integrating claims management into an ERM program.
Committee Member Andrew Bent, author of the “Managing Reputational Risk” report,
drives home the idea that organizations that develop a framework for managing
reputational risks are not only better positioned to anticipate and defend
against threats, but can also gain a significant competitive advantage and
unlock new and valuable opportunities. This report walks risk professionals
through a reputational risk situation, providing instruction on how to apply
the components of the strategic risk management framework.
reports and other relevant risk management articles and surveys can be found in
the RIMS Risk
Knowledge library. If you haven’t yet, I encourage you to check it out.
2020 Task Force met in early October and has focused its attention on our
Bylaws. A subcommittee was struck with representatives from House of
Delegates (HOD), Nominating
Committee, Former Presidents and current Board members. The task force, led by RIMS General Counsel
Mark Prysock, will present its recommendations to the Board of Directors.
And, upon their approval, they will be presented to the HOD. More
information about this process to follow.
Board of Directors will meet in Miami for its final board meeting of the year
to review and approve the Society’s operating budget for 2015. The best
part of the Board Meeting is that it was strategically coordinated with RIMS ERM
Conference 2014 which I will have an opportunity to attend.
it is never too early to start talking about RIMS 2015 Annual Conference
& Exhibition in New Orleans. Already, a save-the-date
email went out to remind risk professionals that registration opens December 4th.
Remember, you can’t book your hotels without registering and the closer hotel
rooms are reserved for members and full-conference registrants. Be sure
to mark your calendars and I look forward to seeing a record number of you
Carolyn M. Snow
A Global Education
Fri, Sep 19, 2014 -
The second RIMS Risk Forum in Sydney was a real success. It
is great to see so many passionate risk professionals in attendance and, even
greater to see their continued support for RIMS. The program featured a
lineup of local risk managers, many of whom already practice enterprise risk management
and freely shared their expertise. Carol Fox, RIMS Director of Strategic
& Enterprise Risk practice, participated in two presentations and I
presented on Reputation Risk Management. The two-day event was topped off with
an exceptional keynote by Captain David Evans, a Qantas pilot who successfully
helped land an Airbus after its loss of three engines with no loss of life and
no lawsuits against the airline.
I am writing this
from Winnipeg at RIMS Canada Conference which is also full of good presentations by
Canadian risk managers and speakers. This year Canada’s risk
management community will celebrate the conference’s 40th
anniversary and I’m pleased to be a part of the festivities.
RIMS is in the
process of revamping its professional development offerings…making sure that they remain relevant and
address our members’ needs. Immediately following the RIMS Canada
Conference, we held a Cyber Risk & Data Security Management
Workshop – a topic that
always ranks high on risk professionals’ top concerns. And, just last
week, RIMS held its “D&O Insurance Around the World: Understanding
International Implications” webcast. And, although you might have missed
it live, the webcast is archived and can be viewed and listened to here.
This past April we
announced a project with JD Power & Associates to measure large business
commercial insurer and broker satisfaction. This project
is important for our members because it provides our global network
of risk professionals with the knowledge to make smart decisions for their
organizations. Secondly, the study will help insurers and brokers
understand their own strengths and weaknesses—and those of their
competitors—and build customer loyalty and increase competitiveness. We see
this as a positive for both our professional and associate members and look
forward the release of these initial findings toward the end of 2014.
RIMS 2020 Task Force
continues to make strides in developing a long range plan for the
Society. The Task Force is now focusing on emerging risks. While
we’re busy tending to the risks that impact our Society now, there is always
that fear concern we are not doing enough to prepare for those issues that have
yet to manifest themselves. Are the tools and resources we’re using now
sufficient? Will they help us predict and test for potential risks?
This full review will undoubtedly provide direction for the future of the
Society and ensure that the risk management community continues to find
valuable resources, ideas and opportunities with RIMS.
A reminder the RIMS ERM Conference in Miami is scheduled for October 26th
through the 28th. Hopefully I will see many of you there.
All the best,
Carolyn M. Snow
More Than A Wish…
Tue, Aug 05, 2014 -
There is a famous quote that says, “a goal without a plan is
just a wish.” At RIMS, we take great
pride in the planning process. We know
from years of experience that our planning meetings are crucial to providing
our members with the best resources, conferences and member value to help them
achieve their professional goals.
In late July, the RIMS Board of Directors and Senior Staff met
in New York for our annual planning session. The Futures Company led an interactive
workshop on anticipating and planning for the “certainties and uncertainties”
that lay ahead. Ideas to enhance the
platforms we use to engage members, our conferences, as well as the value of
industry certifications were among some of the topics discussed.
The Nominating Committee (NC), chaired by Deb Samuels, also
met to conduct board interviews and to begin to develop their recommended slate
for 2015. Part of their process includes
having one of NC members sit in on part of the board meeting so that the Board
can share with them the goals and plans we are developing.
It’s never too early to start planning for RIMS ’15 in New
Orleans. RIMS Annual Conference
Programming Committee (ACPC) is also scheduled to meet in August. The deadline for submitting session ideas for
the conference has passed. The ACPC will
spend two days together to review more than 600 submissions. Their goal is to narrow those submissions to
less than 200 sessions in order to ensure RIMS ‘15 educational component
continues to shine and is filled with thought-leading and highly-relevant
Planning our organizations’ risk financing programs could
become a little bit more transparent in months ahead as RIMS welcomed theintroduction and approval of a TRIA bill from the Senate. Now, with both the House and Senate in
agreement that a reauthorized TRIA bill is needed, we’re hoping that the two
groups can come to a consensus on a final bill soon.
I just returned from attending the 39th Annual Florida EducationalConference in beautiful Naples, Florida.
Mary Roth provided an update about the Society and I had an opportunity
to speak and to meet with many of the Florida members. The
conference is not only educational, but family oriented and fun. At the end of August, along with a team of
RIMS staff members, I will attend the second annual Forum in Australia. I’m looking forward to meeting our members in
the region will be speaking on reputational risk.
The 2020 Task Force also met in
late-July. The group has developed and
submitted a detailed project plan that focuses on areas such as the future
structure of the Society, membership categories, mission and purpose, “Rising
Risk Professionals” involvement and governance. For the remainder of 2014, the
Task Force will focus on governance and will then prioritize and address each
of the future projects included on the plan.
In the following months, you will hear more about RIMS 2020 and other
RIMS initiatives. Enjoy the rest of your