BOSTON, Oct. 27, 2016 /PRNewswire/ -- Fourteen companies, out of 361 applicants, have received the 2016 Risk Maturity Model (RMM) Recognition, a distinction that highlights enterprise risk management leaders and successful ERM programs. Presented by the authors of the RMM, LogicManager and RIMS, the risk management society™, the recipients were announced at the RIMS ERM Conference in Atlanta on October 25, 2016.
"A successful ERM program must be repeatable and measurable. The RMM enables organizations to evaluate the effectiveness of their risk management programs to avoid surprises and achieve their goals with confidence," said Steven Minsky, Chief Executive Officer of LogicManager. "The individuals at these 14 organizations are evidence that strong ERM programs are achievable, and an inspiration for others that moves the discipline of ERM forward. We're proud to shine a well-deserved spotlight on these often unsung heroes."
Recipients of the 2016 Risk Maturity Model Recognition:
- Asia Cell
- Argo Group *
- Centene Corporation *
- Greater Toronto Airports Authority *
- International Air Transport Association *
- LEGO Systems A/S *
- Lockheed Martin *
- Michigan Professional Insurance Exchange
- Ooredoo Oman *
- Peoples Bancorp Inc. *
- Radian Group Inc. *
- Wataniya Mobile Palestine *
*Recipient of the 2015 RMM Recognition
"The organizations that receive the RMM Recognition are models of value-adding and repeatable enterprise risk management competencies," said Carol Fox, Vice President of Strategic Initiatives at RIMS. "Their risk management and leadership teams show a commitment to continuous improvement that is commendable. We at RIMS are pleased to highlight their achievements in this way."
The RMM Recognition is given to organizations achieving high levels of ERM maturity, as defined by the RIMS Risk Maturity Model. Over the past 10 years, thousands of organizations have used the model as a tool to assess and improve their risk management programs, ultimately driving results for their businesses. In fact, a study published in the Journal of Risk and Insurance found that organizations achieving higher levels of maturity, as defined by the RMM, can experience a cumulative 25 percent firm valuation premium. "Enhancing risk management to be proactive risk taking and cover strategy is still new, and there is no textbook approach for all to use," said 2015 and 2016 RMM Recognition recipient Hans Læssøe, Senior Director, Strategic Risk Management at LEGO Systems A/S. "In the development [of a program], the RMM maturity model is a strong guide as to where to focus your efforts for optimal impact and value."
"Argo Group is delighted to be recognized for the second year within the RIMS Risk Maturity Model scheme," said Alex Hindson, Chief Risk Officer at Argo Group. "Within Argo, the Risk Maturity Model is a key tool that we have used to articulate our risk strategy to the Board of Directors and external stakeholders such as credit rating agencies and regulators. It has allowed us to monitor and track progress over time and make adjustments to our enterprise risk management program as the need arises. It is a powerful communication tool and we are thankful for [the] continued support and recognition."
To learn more about the recognition and how to take the RMM, please visit http://riskmaturitymodel.org/annual-rmm-recognition-program/.
LogicManager is the leading provider of enterprise risk management solutions, and has enabled thousands of organizations to Manage Tomorrow's Surprises Today® by maximizing the value of their ERM programs. With robust software, a flexible SaaS platform, and top-rated customer support, LogicManager builds engagement and connects traditional governance, risk, and compliance activities to identify root-cause risks across the enterprise. For more information about LogicManager, visit http://www.logicmanager.com.
As the preeminent organization dedicated to educating, engaging and advocating for the global risk community, RIMS, the risk management society™, is a not-for-profit organization representing more than 3,500 corporate, industrial, service, nonprofit, charitable and government entities throughout the world. RIMS has a membership of approximately 11,000 risk practitioners who are located in more than 60 countries. For more information about the Society's world-leading risk management content, networking, professional development and certification opportunities, visit www.RIMS.org
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